As investors look to know more about the features of the new digital currencies going live in a convoluted market, most of them study their viability by taking a deep look into the problems they are looking to solve. Some of them are coming up with practical solutions to everyday issues while others are looking to change the way things are done in an established playground. Helbiz is working both of these angles by offering the means to work with Sharing Economy principles into every aspect of our lives. While their immediate plan is to offer their services to obtain a rental on motorized vehicles with smart properties, their long-term plans is to make every possible service available under their ecosystem.
What it is and how it works
To make their plan work, Helbiz is looking to fund their operation with a token utility named the Helbiz Coin (HBZ). The financial tool not only is being used as a mean to raise funding for further development of the Helbiz platform, it’s also the currency that will be used inside the Helbiz ecosystem for the catalog of services that will be offered on it. The company has developed 1 billion units of HBZ, and 520 million of them will be offered in the Pre-ICO sell that started on January of 2018 and that it will continue until February 15th of the same year. The token utility can only be paid using Ethereum and initial investors will get an incentive rate of 8,000 HBZ for 1 ETH invested. The official ICO sell will run from February 16th until April 4th of 2018 and the general rate for the investor will be of 6,000 HBZ for 1 ETH.
HBZ token allocation
Hellbiz has a token allocation plan that allows them a wide reach for success. The company needs to achieve a hard cap of 62,500 ETH to be considered successful and begin their operations. 48% of the HBZ tokens are being sold to the public in the crowdsale. 25% are being held by the company in a reserve fund for the future as users grown within the ecosystem and the company needs to expand their operations. 10% of the tokens will go to advisors and early backers, 10% will be distributed among the development team. 4% will be offered on the pre-sale and 3% will be allocated for the bounty program.
HBZ financing plan
If the hard cap goals are reached to the company has a detailed outline of their expenses plan for the gathered funds. The path is very cut and clear: 40% of the collected money will go to the technical development of the Helbiz Platform. 35% will be used to develop the business model with vehicle owners within the Helbiz ecosystem, all the actors involved in the platform since the beginning will receive proper instructions and education on how to use it for their advantage. A support team will be created to follow them each step of the way. A share of this funding will also go to insurance companies that are currently developing new products to work with Helbiz. The remaining 25% will be used for marketing purposes and legal expenses.
For a deeper look into the long-term strategy of Helbiz and their plan for Sharing Economy you can check the followings:
Helbiz Website
Helbiz Whitepaper
Stay tuned for more about Helbiz,
Jack Andrew