Bob’s Repair dubs itself as the maiden brick-and-mortar service to ICO. The Las Vegas-based startup has won the support of John McAfee, who founded McAfee antivirus software, for its plan to decentralize the home-repair industry. Delaware-based Bob’s Repair uses the STEEM blockchain to design smart contracts to be used in transactions between home owners and contractors on its platform. The startup will begin selling ERC20 BOB tokens on Jan. 4 in its upcoming ICO at a rate of 1 ETH = 6,000 BOB tokens.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
In his tweet, McAfee said: “One of the most interesting brick and mortar ICOs I’ve seen. Shout out to @bobsrepair. Note: These folks are friends of mine.”
Bob’s Repair is building its decentralized platform in Q2 2018 with a planned launch date in Q4 2018. They are looking to the blockchain to erase “fraud and ambiguity in the skilled trade industry” as well as a lack of transparency for pricing. Bob’s technology will connect contractors and home owners directly. They chose STEEM over Ethereum for its speed and lack of transaction costs.
Bob’s is a spinoff from a predecessor company dubbed STWP, which already has a user base and revenues. The company boasts a management team of Harvard and Microsoft alum, not to mention having McAfee as a partner and adviser to the project.
Twitter Account Hacked
Incidentally, McAfee himself has been making headlines after his Twitter account was hacked by an individual or group that fraudulently revived a former habit of the tech guru by touting a coin of the day. McAfee blamed Twitter’s security, saying he has no control over that despite his own tech expertise and adding that he is a “target for hackers who lost money and blame” him.”
Meanwhile, McAfee did agree to begin recommending an upcoming ICO of the week, advice he will begin doling out on Jan. 1. He said: “Many of my followers … have asked for an ICO of the week. This is an excellent suggestion since ICOs, if chosen carefully, bring the greatest returns, and they encourage long term investment. My first will be tweeted on Monday.”