Ajax Software LLC from Hungary plans to create Citizenship coin cryptocurrency. The new coin will be used to pay for services in the framework of CBI programs (obtaining citizenship based on investing in the economy of the country) and RBI (obtaining residency through investment). These programs currently operate in several European countries.
The planned issue amount is 105 million CTZ coins. It will be implemented in several stages – 50 million tokens will be issued within 4 years after the ICO. Quotations of the coin may vary depending on the situation of the market.
“This will be an experimental cryptocurrency, built on blockchain technology. With its help, we want to change the situation in the sphere of migration, providing the possibility of instant payments to everyone,” said Ajax representative.
At the stage of the Pre-ICO, it is planned to sell 1 million coins, and to use the raised funds for the development of the project.
Finam analyst, Leonid Delitsyn, noted that such a coin can be in demand among wealthy willing to have the opportunity to live in the EU. Many Chinese crypto-investors will gladly exchange the coins for citizenship of Monaco or another European state.
“Usually in order to get legal status in a country one should invest capital into creating jobs or purchase property,” Delitsyn says. “Blockchain offers another opportunity to such potential investors.”
Specialized cryptocurrencies used for such purposes could serve as an additional payment tool, says Bogdan Zvarich, an analyst at Freedom Finance.
Citizenship coin is a free software and its source code is also available as free open source to the CBI/RBI industry.
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