Icon ($ICX) is an exciting blockchain company based out of South Korea. Often referred to as the “Korean Ethereum,” this company and their product are much more than that. Icon seeks to “Hyperconnect the world,” and with their Loopchain technology and resources other coin companies could only dream about, Icon not only created this innovative vision, but has already begun implementing it with businesses. If there was ever a coin that had everything it needed for success, Icon is it.
One essential thing that many people might not know about Icon is that they are a blockchain company under the parent umbrella of Dayli Financial Group. Dayli is one of the largest Fintech companies in the world (600+ employees), with 25 companies under their umbrella, including two blockchain companies, Coineone and Icon. Icon’s “The Loop” was researched and developed for the past two years between Icon and three of Korea’s top Universities. This project was actually funded by the Korean government through a grant, which should help people understand how serious the Korean government is about growing blockchain technology.
Icon boasts a team of over 100 people. Headed by founder Min Kim, Dayli’s Chief Strategy Officer, Icon has one of the most impressive teams of developers and advisers of any coin I have ever seen. You can tell how serious Icon is about not only creating this technology but making sure they have the people in place to help integrate it into businesses. This is the type of development and business team you would expect to see at places like Google or Amazon. This blog could be entirely dedicated to the size and accolades of the Icon team, so I absolutely recommend checking out their team page: Icon Team
What Icon did with their development is what really sets them apart. Instead of creating a token platform where businesses can just run their blockchains off of the ICX mainnet like any other platform coin does, Icon created the Loopchain project, a decentralized blockchain that allows all of the tokens to work and communicate together through a single system. Doing this allows a decentralized blockchain to come together as a centralized system.
I’ll quickly break down how this works. Let’s say Blockchain A is a hospital, Blockchain B is an insurance company, and Blockchain C is an employer. When blockchain is eventually mass-adopted worldwide, instead of having each one of these run on a blockchain that is independent of each other, Icon would have each community run their own tokens on the Icon platform. These tokens would be individualized for each business, but would be able to work together through Icon’s Nexus, so that a hospital could verify insurance information through your employer. All on a blockchain, but all able to interact with each other. This type of innovation by Icon, bringing businesses together on a faster (9,000tps) and more reliable network, sets itself apart from a lot of blockchains that just look to host tokens without any real solutions to everyday problems in the business world.
As of this blog, Icon ($ICX) is currently ranked #21 on the Coin Market Cap with a price of $4.79, per coin which I feel is still incredibly undervalued. The total supply is 800,460,000 with a circulating supply of 385,942,514. Looking at ICX’s price before the market drop, and adding the mainnet launch and current business integration of their coin, ICX is one of my top investments, with it currently holding 24% of my portfolio. With a relatively low supply, incredible product and team, and partnerships already using the product, I plan on Dollar Cost Averaging this coin for as long as I can, as I feel the future potential earnings are going to be absolutely phenomenal.
Everything about Icon tells me it will be a success story. Min Kim is approaching blockchain technology in a totally different way. Instead of creating a product and making clients adapt to it, Icon is going into businesses and finding out the needs of the customer, and then creating a product that will work on the Loop based on their needs. This is an entirely radical approach that I have not yet seen. And unlike many coin companies out there with a product and no customers, Icon has already integrated this into security firms, hospitals, banks, and universities in Korea. And while I feel they will have the entire Korean market locked up (which by the way is a good enough reason to invest, as Korea is one of the top tech countries in the world), Kim does not want to be limited to Korea, and has plans of growing Icon all over the world. What impressed me most with Kim and Icon’s business model is that they understand that this is a long-term technology. He believes in being able to deliver real results based on the current technology. He believes that some blockchain companies are too ambitious regarding what the tech can actually deliver and wants to make sure that Icon delivers what it can now and grow long-term with the technology in the future. Between this realistic vision and approach, along with a strong team and technology, current business integration, and dominance in the Korean market, my confidence as an investor could not be any higher.
For a more in-depth analysis, please check out this video by @Pieceofthepy
Icon ICX Resources Below: