Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.
Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.

TideBit Expected to Complete a $30 Million Sales for its Exchange Token TBT

May 7, 2019

HONG KONG / ACCESSWIRE / May 7, 2019 / The largest digital assets exchange in Hong Kong, TideBit has closed the cornerstone sales of its exchange token TBT end of last month, together with upcoming public sales, TideBit is expected to raise a total of USD 30 million. TideBit aims to become the world’s first “Consumer-Investor Token” trading platform and it is expected to launch before July.

According to TideBit, TideBit Token (TBT) recorded a 14% cornerstone lottery winning rate with over 10,000 individual users and several internationally renowned digital asset investment institutions subscribed to the lottery.

The most important purpose of this fund raise is to build the “Consumer-Investor Token” trading platform. The theoretical basis of “Consumer-Investor Token” suggested by Mr. Chen Ping, a Chinese economic reformer, entrepreneur, founder of TideBit and TideiSUN Group proposed the new economic principles: Demand Creates Value. This new economic principle is backed by a series of institutional and operation system. Though the use of blockchain technology and characteristic of tokenized economy. TideBit will be the first exchange to put this concept into practice. “Consumer-Investor Token” will empower the consumers to obtain the benefit and profit from commodity token though consumption. The value of consumption can be reflected and quantified in the process of enterprise development, consumers will have the right to speak and enjoy the benefits from economic growth. In the end, social differentiation will be reduced, interest and organizational relations will be reconstructed, solving the problem of capitalist oligopoly and overproduction; driving capitalism into a state of sustainable development.

So far there are 20 companies in nine different segments from China, Japan and Taiwan are willing to issue their consumer-investor token.