Israel-Based VeganNation To Launch Its ICO

Aug 14, 2018 at 11:00 Update Date :Aug 14, 2018 at 11:00 UTC

VeganNation, a food sharing website startup based out of Israel is planning to launch its Initial Coin Offering on the 2nd of September in an attempt to offer a decentralised community and marketplace to millions of vegans all around the world.

Isaac Thomas, one of the four founders of VeganNation claims that it is the first ecosystem for people who prefer “cruelty- free” eating, and offers them a platform for communication between buyers and sellers who deal in vegetarian food products. The community members; the sellers and customers alike can carry out these transactions with the help of the new VeganCoin (VCN) cryptocurrency.

The main focus is on the college-going students who will be at more ease using the blockchain tech. However, according to Thomas one does not have to understand how exactly cryptocurrencies and blockchain technology work in order to be a part of this online community.

The participants of the VeganNation community wanting to purchase food products and services will use their JAXX crypto wallet loaded with prepaid VCN crypto tokens instead of traditional bank credit cards. Thomas, in reference to the difficulty in using this online platform, said, “If you understand how to use mobile payment apps, our system works the same way.”

VeganNation was started by four friends and has now, in just two years, grown into a team of 25 people and the number is still growing. The firm has a technical development office in Jerusalem and a business development centre in Tel Aviv. The startup has also set up a satellite office in “crypto valley”, which is regulated by Switzerland.

Technically, the startup launched their ICO way back in February this year with their private presale where they offered VCN tokens at a discounted price to the early investors. The main ICO will take place over a period of six months and is expected to raise a fund of $60 million.

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