If you're around in crypto for more than a year, then you may remember a project called IPFS (Interplanetary File System Protocol). It was meant as a distributed data storage solution on top of blockchain and, at that time it was considered revolutionary. On top of that storage solutions there was also a token, called Filecoin. The development of the protocol went ahead quite well and IPFS is now used in a variety of products (among others, AKASHA).
But the Filecoin white paper and distribution was lagging behind.
Well, not anymore.
According to the newly updated site at filecoin.io the token sale will kick off on August 7th. But what sets apart this ICO from others is the requirements for investments. In order to participate, you have to be accredited as an investor, a process which is managed by angel.co (yes, that angel list). In other words, you can't invest if you're not verified as an investor before that, which basically means you have to prove you have at least $1,200,000 in assets, or more than that in revenue.
I don't know if this move is made as a compliance effort for recent SEC's regulations, or it's just their way of selecting their investors, but I like it. Yes, it raises the bar a lot and not everybody would be able to invest, but at least they'll know that whoever dares to join, is both loaded and experienced, as an investor.
For more details, please visit Filecoin.io.
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