ZrCoin ICO Raises $3.7m to Build a ‘Green’ Zirconium Plant in Russia

ZrCoin, a project for producing ‘Green Zirconium' from waste materials, has completed the collection of $3.7 million in an ICO (Initial Coin Offering) over the course of two weeks, from 11-25 May. The funds will be used to start production of synthetic zirconium in the Urals, with an initial capacity of 400 tons/month in 2018.

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"We want to thank investors for their support during the ICO, and we can now confirm that the plant for the production of raw materials in high demand by the industry will be launched. Thanks to Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology, it was possible to attract financing in an extremely short period of time. The bold decision to offer a new investment vehicle backed by the commodity that we plan to produce was met with interest," comments ZrCoin co-founder, Andrey Nikonorov.

"We now expect that we will be able to raise enough funds for the construction of a second facility. More and more start-ups are choosing ICOs as a way to gain funds for development, and our team is proud to be among the first projects in the cryptocurrency sector with real-world application."

Zirconium is a critical commodity for the production of ceramics used in space vehicles and nuclear facilities, due to its stability under extreme temperature and pressure. At present, zirconium is mined from the earth, with harmful effects to the environment.

After the Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term campaign ends and the ZrCoin token is created and distributed using the Waves blockchain, it can be transferred to exchanges for trading.