the ecosystem. Over the past two years Civic has assembled over 90 partnerships, one of which is CardConnect, which partnered with Civic to deliver a mobile-first payment solution. The product offers an innovative security solution to keep your data safe via tokenization, point-to-point encryption, as well additional security features, such as PCI scope reduction. Additionally, in February 2020, Civic launched their wallet to their private list of over 100,000 people worldwide; it also offers insurance for cryptocurrency holdings worth up to $1,000,000. Name: ENJIN ICO: 2017 Token: ENJ Summary: Enjin’s mission is to radically transform gaming by bringing real-life economies to virtual worlds. Enjin offers an ecosystem of integrated blockchain products. This ecosystem is fueled by Enjin Coin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of blockchain assets created with the Enjin blockchain game development platform. Comprising the ENJIN Platform, Explorer & Marketplace, Wallet, Beam (QR asset distribution service), and other tools and services, the Enjin ecosystem provides users and developers with everything they need to easily mint, manage, explore, distribute, and integrate blockchain assets. Over 20,000 individuals are registered as users on the Enjin Platform (Ethereum Mainnet + Kovan Testnet versions) and 3,000projects have been created with the Enjin Platform (Ethereum Mainnet + Kovan Testnet combined) ERC-1155 blockchain assets: · 51,985,678 have been created with the Enjin Platform · 12,550,951 ENJ (1.25% of total supply) has been locked in blockchain assets In late 2019, the Enjin Marketplace, a digital trading hub integrated with EnjinX and the Enjin Wallet, was launched. This allows users to easily buy and sell blockchain assets from their phone. In February 2020, they released the Enjin Platform publicly on Ethereum Mainnet. Developers can now use the blockchain game development platform to create blockchain-based assets backed with ENJ and integrate them with their games, apps, and websites. This launch also included the Mainnet release of the Blockchain SDK for Unity. Upcoming milestones for Q2 2020 include the launch of a Blockchain SDK for Godot Engine, Java SDK, and a blockchain plugin for Minecraft server owners. Name: Golem ICO: 2016 Token: GNT Summary: Golem is a cryptocurrency and P2P application platform that enables users to rent resources in the form of computational power and time. Users are compensated for their resources via their token GNT. Golem’s most illustrative use case is CGI rendering; its software scales with tasks, which is all made possible with Ethereum blockchain. Their next milestone, announced in April 2020, is a completely new architecture known as New Golem. The new architecture will allow for new use-cases to be built on top of it, will see a new ERC-20 Golem token, and will possess greater transaction speeds and avoid network clogging. Name: Gnosis ICO: 2017 Token: GNO Summary: Gnosis originally started as a prediction market that allows for people to create arbitrary events to make predictions on a variety of events. Since its inception it has progressed to a three-product strategy of create, trade, hold and progressed to a dual token model using GNO and OWL, with the former being an ERC-20 token that was sold during their ICO. April 2020 saw the Gnosis team launch Corona Information Markets, a new prediction market for events related to the coronavirus pandemic. Name: Livepeer ICO: 2019* Token: LPT Summary: Livepeer provides scalable, secure video transcoding at a fraction of the cost of typical public cloud infrastructure solutions. The solution is highly reliable and delivers perfect quality with massive scalability while being both environmentally friendly and unmatched in affordability. There is a team of 15 people working at Livepeer and currently there are 44 infrastructure providers, 2569 delegators and approximately 65% of LPT is staked on a node in the network. Livepeer are reportedly close to several major milestones, including: 1. Launching an API service focused on the video community that abstracts the complexity of interacting with the tokens. This is to enable people who want cost effective, reliable, and secure transcoding to easily use Livepeer. The API is in beta now and there are a number of people currently trialing. 2. Launching a website focused on the video community to allow them to sign up for the API service mentioned above. 3. Moving their service out of beta and announcing our first commercial users of the service. The LPT token works via Ethereum and is the exclusive payment method supported by Livepeer. The token can be exchanged into other coins or fiat-based currencies via supporting exchanges. Name: MakerDAO ICO: - Token: MKR & DAI Summary: MakerDAO is an open-source project on the Ethereum blockchain and a Decentralized Autonomous Organization was created in 2014. Its tokens (MKR) holders manage the Maker Protocol, which enables users to create currency. Current elements of the Maker Protocol include the Dai stablecoin, Maker Collateral Vaults, Oracles, and Voting. Through the volatility of 2020 the total value locked in Maker in has increased 14 percent YTD. MakerDAO is the largest DeFi protocol to date and one of the founding blocks of the alternative decentralized finance system. Name: Numerai ICO: 2019 Token: NMR Summary: Numerai was launched in 2015 and is an AI-run and crowd-sourced hedge fund. The core idea of Numerai is to give away all their information for free and let anyone train machine learning algorithms on it, and then to submit financial markets predictions. In 2017, Numerai built their own cryptocurrency Numeraire (NMR). NMR is mined by data mining Numerai’s data, and submitting predictions is the proof of work. The submission point of this data is Numerai’s data science tournament. Following the submission of this data, data scientists are rewarded in NMR based on the accuracy of their data. If the predictions are poor, rather than being rewarded, their NMR is permanently destroyed. Following its release, Numerai has paid out millions of dollars and is one of the best paying data science tournaments in the world. Name: OmiseGO ICO: 2017 Token: OMG Summary: Founded in 2017, OmiseGO is a team of 50+ professionals working across 3 continents. They envision a future where anyone worldwide can transfer, operate, or build on a financial infrastructure that is safe, transparent, and affordable. OmiseGO achieves this mission via the OMG Network: the value transfer network for ETH and ERC-20 tokens. It uses one-of-a-kind, More Viable Plasma technology that individuals and businesses can use to transact and build on an infrastructure that offers comparable speeds, costs, and security to the Ethereum Network — all while retaining full autonomy over their funds and keys. In addition to the OMG Network, OmiseGO offers several products such as the OMG Block Explorer, as well as various libraries and SDKs that reduce the time to integrate with their services. Additionally, individuals can use Web Wallet to test network features. Name: Power Ledger ICO: 2017 Token: POWR Summary: Power Ledger’s technology provides the operating system for new energy markets. The company has developed a world-first blockchain-enabled energy trading platform to make energy markets more efficient. Power Ledger platform helps people transact energy and trade environmental commodities. Their token, POWR, is the bond needed to use the platform. The company is rapidly scaling its business around the world, with partnerships with energy companies to develop distributed, democratized electricity markets. Currently, Power Ledger has more than twenty projects across nine countries and partnerships with large entities such as KEPCO in Japan, the Malaysian Government and NASDAQ-listed Clearway Energy. Power Ledger uses blockchain to provide an immutable audit trail of where and when energy was generated and consumed to ensure that energy sources can be validated efficiently and that electricity, energy services and energy certificates can be traded and settled in a low-cost and transparent way. The company is also using blockchain to enable new commercial and business models in the electricity sector such as cross-retailer and cross-battery trading via its virtual power plant feature, where households and businesses with batteries can derive passive income from stabilizing the energy grid with their batteries. In April 2020 Power Ledger announced the world’s largest ‘choose your own energy source’ project in France with its Vision platform feature connecting to up to 220,000 electricity meters. Name: Steem ICO: 2016 Token: STEEM Summary: Steem is a blockchain-based social media platform where anyone can earn rewards by posting relevant content and curating content by upvoting and holding Steem-based currencies. Steem supports community building and social interaction with cryptocurrency rewards. The STEEM token is a reward tool earned by posting well-liked and valuable content. In March 2020 Steem announced its intention to create a new platform called HIVE, and users will receive their balances in a 1:1 ratio via airdrop. Name: Synthetix ICO: Token: SNX Summary: Synthetix is a blockchain-based payment network powered by a stablecoin aiming to combine all the benefits of a decentralized approach with the stability of traditional finance assets. Synthetix implements a dual token solution that consists of a stabilized Ethereum-based utility token (SNX) and a reserve token (Nomin) to back it. Nomin is pegged to the value of 1 USD and is used to make transactions on the platform. Additionally, Synthetix launched GrantsDAO to fund community projects. Synthetix is the second most utilized DeFi protocol to date. Name: Tether ICO: None Token: USDT Summary: Tether, a stablecoin, was launched in 2014 and is the fifth largest cryptocurrency by market capital. Tether offers a method for maintaining a one-to-one reserve ratio between a cryptocurrency token, called tethers, and its associated real-world asset, fiat currency. In 2019 Tether introduced loans to affiliate companies and in 2020 released Tether Gold, which offers a digital token backed by physical gold. Additionally, through April 2020, there was an additional $1 billion that flooded into USDT. USDT is the most popular stablecoin and is often used by cryptocurrency investors and traders. Crosser, N. Initial Coin Offerings as Investments Contracts: Are Blockchain Utility Tokens Securities? (2018). Lyandres, E, Palazzo, D, Rabetti, D. Are Token Securities? An Anatomy of Initial Coin Offerings. (2019). Liebau, D. Cryptocurrencies & Initial Coin Offerings: Are They Scams? — An Empirical Study. (2019). Tiwari, M, Gepp, A, Kumar, K. The Future of Raising Finance — A New Opportunity to Commit Fraud: a Review of Initial Coin Offering (ICOs) Scams. (2019) Liebau, D. 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GBBC requests proper credit and acknowledgement of references if used by its readers for future research and educational purposes. Written by