Today, San Francisco startup BitBounce launched its initial coin offering for its new token, Credo. Credo is a brand new cryptocurrency that will solve the problem of email spam, which costs the global economy an estimated $20 billion per year. Credo’s integration with BitBounce allows users to charge a fee for emails to be delivered to their inboxes from senders they don’t know. In effect, Credo creates a perfectly curated inbox that consists only of emails from personal contacts and emails a users has been paid to receive.
Techvicity reported last week that Venture Capitalist and Billionaire investor Tim Draper pre-purchased 10% of the total Credo tokens.
“1 Ether will purchase 3,752.03350 Credos, making the sale price of Credos 0.00026652214059389394 Ether per Credo.”
BitBounce Founder, Stewart Dennis, and his Credo team are seeking to raise a maximum of $20 million in their token sale. More details on their spam solution and how they are going to use the funding is fully laid out in the Credo white paper.
Starting around 1PM PST today you will be able to send ethereum to the contract address listed on the Credo website: https://bitbounce.io/credo