Balehu Bucks is an ICO for a new cryptocurrency designed to power a blockchain-based online sales and marketing platform, created to benefit local small businesses and their customers. The ICO, which is being used to crowdfund development of the platform, will also be used as an in-platform digital currency and as part of the platform’s loyalty rewards system.
What Is Balehu Bucks?
BalehuBucks is part and parcel of Balehu, the nascent local, small business-centric e-commerce platform. Balehu was founded in 2015 by Mike Berson, a veteran entrepreneur from the greater Denver area of Colorado.
Berson, according to his LinkedIn profile, was educated at UMass Amherst, Pace University, and the University of Wollongong, specializing in business administration and management. He has worked as managing partner and sales manager for other companies in the past, and in addition to being the founder and CEO of Balehu he also founded Up On Adventure, an interactive online travel hub.
Balehu Bucks Product
While the Balehu platform, once completed, will have a myriad of functionalities, the only current product offering that the company has is the BalehuBucks ICO crowdfunding project. Based on the Ethereum ERC-20 Standard, the BalehuBucks digital asset (BUX) will be used to purchase goods and services from within the Balehu ecosystem once the platform goes live.
The Pre-ICO phase of the BalehuBucks token sale began on December 1, 2017. This Pre-ICO sale is slated to last 8 weeks or until the number of BUX slated for the pre-sale are exhausted. After this period, the full ICO phase begins on February 1, 2018, lasting until March 29, 2018.
Investors are limited to purchasing BUX with Ethereum. Price per token is 2500 BUX per one Ethereum, with one ETH roughly equivalent to $450 at the time of this writing. Purchases are capped at 750 ETH worth of BalehuBucks.
Balehu claims that it will have its cryptocurrency available for trading within 2 weeks of the cessation of its ICO.
Balehu Bucks Opportunity
As BalehuBucks are designed to be used as currency within the Balehu local merchant ecosystem once it goes live, those holding the cryptocurrency have the opportunity to enjoy speculative investment growth. This is, of course, in addition to any investors who wish to utilize the platform itself for its intended use – a local e-commerce marketplace for small businesses and their customers.
The extent of this opportunity is totally dependent on whether the Balehu platform is successful, how popular the BalehuBucks token becomes, how many BUX tokens are sold during the ICO, and general market demand for the token once it begins trading on outside exchanges.
Balehu Bucks Verdict
Balehu and the BalehuBucks ICO seems, from all accounts, to be a new cryptocurrency project that has laudable goals. The concept behind the project – to create local communities of small businesses and their customers – has the potential to benefit those businesses and those that want to support these local communities. Additionally, using blockchain technology to do so provides transparency, security, and a universal payment method that eliminates complicating issues like credit card fees.
That being said, there’s truly no way to predict whether Balehu will be able to deliver on its promises of creating a viable platform. The company will need to attract a requisite number of businesses and customers to create a stable ecosystem, and if it can’t accomplish that goal there’s not much room for speculative growth when it comes to the valuation of the BalehuBucks token.
This is, of course, the core risk behind nearly every ICO. Investors are taking a major gamble whenever they purchase a new cryptocurrency, as there are never any guarantees the entire project might not turn out to be a total flop. Balehu does seem to be much more well put together than your average ICO, however, which is most definitely a mark in its favor.
Is that enough to lead you to take a gamble on BalehuBucks? The choice is yours; invest accordingly.