Blockchain startup ICOx Improvements introduced the coin immediately as a “new regulatory compliant company foreign money.” In line with the agency’s press launch, the token might be used to make purchases on GunBroker.com — reportedly the world’s largest web site for searching and sport taking pictures firearms. The positioning has reportedly 4.7 million prospects and sees $600 million in transactions yearly.
FreedomCoin is a stablecoin pegged to the U.S. greenback, which will be saved in an evidently bespoke digital wallet, the press launch stories.
“Anybody who has bought a firearm is aware of how painstakingly brutal it may be to take care of conventional bank card corporations and different monetary establishments,” GunBroker.com’s CEO and CTO, Steven F. Urvan, stated in a press release quoted within the press launch, including:
“now we are able to nearly eradicate that downside and expose a complete new phase of gun and out of doors fans to the world of digital funds.”
ICOx Improvements burdened within the press launch that the corporate will make sure the coin is compliant with native Know Your Buyer and Anti-Cash Laundering legal guidelines, in addition to cash transmitter laws.
As Cointelegraph beforehand reported, ICOx Improvements co-developed the KodakONE Platform — the developer of a blockchain-based picture rights platform licensed by photographic trade big Kodak — and its KodakCoin token. Media not too long ago reported that the platform generated over $1 million in licensing claims for picture rights throughout a restricted beta take a look at.