Popular Employment Profile Platform LinkedIn’s first Chief Technology Officer and co-founder Eric Ly is apparently raising funds for the upcoming token named Hub Token, designed specifically to function at the platform coined ICOHub, recent reports said.
Launched in April, ICOHub was introduced with the intent of birthing a platform which would cater to sales of more reputable tokens — a much-needed action to prevent any more occurrence of ICO fraud in the crypto market nowadays.
As of the time of posting, Hub Token’s Simple Agreement for Future Sales (SAFT) has already reached $13,588,722, more than halfway through the $20-million goal. The amount was accumulated from twenty investors alone.
Essentially, Eric Ly’s Hub Token is engineered to act as an incentive for establishing and solidifying trust among the network’s participants. Back in April, Ly informed that the platform is aimed at constructing a more verifiable data source on the token’s team as well as specifications of their brain-child.
“The reputation of an entity might come from individuals but also past businesses dealings the entity has had, such as past financings, partnerships, and customers, that would increase their trust score,” Eric Ly explained. “ICOHub will rely on a ‘web of trust’ from multiple data sources to determine trust scores.