The Qtum Foundation, developer of the recently revealed Qtum smart contracts blockchain, today announced plans to hold its upcoming QTUM token crowdsale to raise over 13,000 BTC (over $15 million) on six exchanges at once. The 30-day token crowdsale will begin March 16, offering 51 million QTUM for either Bitcoin or Ethereum.
QTUM are the cryptographic software tokens used to engage with distributed applications and smart contracts on the Qtum platform, and will serve as the staking currency of the Qtum blockchain, as well as fuel for computational operations performed by the Qtum network.
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“This crowdsale will accelerate the development of the Qtum Project and assure that we will have a stable blockchain platform for industry and consumer smart contracts. Given the commercial interest for making IoT, financial, and supply chain applications on blockchain, we imagine Qtum can be the robust infrastructure these applications are built on,” said Patrick Dai, co-founder of the Qtum Project
The crowdsale will be at these mostly Chinese cryptocurrency exchanges and crowdfunding portals: Bizhongchou, Yunbi, ICOAGE, Allcoin, ICO365, and BTC9.
Qtum recently announced a partnership with PwC China, which will support Qtum’s efforts to help fuel blockchain adoption across global business sectors. Qtum has raised $1 million from investors including Chen Weixing (Kuaidi), Star Xu (OkCoin), Anthony Di Iorio (Ethereum, Jaxx Blockchain Interface), Jeremy Gardner (Augur), Fenbushi Capital’s Managing Partner Bo Shen, and angel investor Xiaolai Li.