Will Ireland Become The Home Of Crypto As Government Backed Company launches Its First ICO

Ireland has its first ICO as Mingocoin goes into PreSale on Monday25th.

Ireland is emerging as the hub of a booming center for fintech and blockchain companies. With the well-established International Financial Services Centre (IFSC) and the Silicon Docks with its coterie of world leading firms like Google and Facebook having their EU headquarters.

Is it Small Countries Leading The Blockchain Revolution?

The small emerald Isle has created the ideal breeding ground for the new sector, which is challenging the world’s traditional financial services with the latest disruptive of blockchain and crypto technologies.

In the wake of brexit many fintech companies are moving to Ireland to still be apart of the EU trading bloc while also taking advantage of Ireland’s tax benefits.

Despite China’s recent ban, people are still eager to participate. Many countries are welcoming blockchain technologies with the likes of Isle of Man, a neighbour to Ireland and Estonia leading the charge.

Estonia seems to be at the forefront of the blockchain revolution in europe, offering an e-residency program and now considering a way of offering currency to e-residents.

Where does Ireland fit in in all this craze?

Enterprise Ireland which promotes jobs and innovation has supported Mingo in the years leading to its pre sale ICO. Mingo, which is set for its Pre-Sale launch this September the 25th.

According to Mark Atterbury of Regional Development of Enterprise Ireland stated

“We see Mingo will fulfill a market need that is currently being underserved and undervalued. Our expectations with fund winners such as [Mingo] are demanding; to see the company grow rapidly through export revenue and job creation is the ultimate goal, 15 of 20 and this feasibility fund helps support the business achieve an investment-ready offering. We look forward to supporting [Mingo] on their journey to success.”

MingoCoin which already has a working product, a multi platform messaging app with a user base of 50,000 users.

That is set to rise to 1.2million within the  first year and will add a cryptocurrency to its service which is a standard ERC-20 token powered by the ethereum network. MingoWallet will facilitate cryptocurrency and fiat currency transactions across multiple platforms by using the Interledger protocol. Transactions will be near instant utilizing the Lightning and Plasma networks.

As more ICOs are launch it will force more and more countries to show their hand with their stand on Blockchain technologies.

Source Links
CoinTelegraph
IrishTimes
Medium
MingoCoin
SiliconRepublic

 

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  • Jonathan

    It makes perfect sense that Ireland would do this as its always being ahead of the tech curve! It would be interesting to see how this ICO pans out with whats going on in the market right now!

    • Jonathan

      This whole cryto-coin thing is just another big bubble waiting to happen. I would give it another few years until it pops.

  • David

    Ireland seems to be doing its best to get a lot of the Fintech companies over from London since brexit.. this is another addition to them.

  • This is just another sign of the race – that has already begun – to be the future home of ICOs. Countries across the world will be competing for the talent behind these companies, and ensuring they have favourable regulatory environments to welcome them.

    • And take note – ICOs will be equity issuances on the blockchain within 1 -2 years. ICOs will be the default way to raise money.

      • Dimitris

        This is BS! Its just another dot-com bubble sucking in people before it implodes

        • David

          Regardless of what you or anyone else thinks it is..its the start of a movement. Like the dot-com bubble.. that was the start of a movement.

  • Max

    very interesting. Smart move for Ireland to position itself like Switzerland. This will without a doubt attract a lot of talent from the blockchain space.

  • CryptoKane

    Another example of where blockchain is winning….. more countries need to be open to this like Ireland….

  • Pingback: Ireland's First ICO, Mingo, Raises €650,000 in Pre-sale | BTCMANAGER()