Without a doubt, the biggest and most common critique levied against cryptocurrencies is that the currencies hold no value in the traditional sense. This sense, of course, refers to the concept that all fiat money had to, at some point, have value rooted in an objectively valuable material item.
For the United States, for example, the country’s economy used to operate on the “gold standard.” This meant that all currency in circulation was backed by a corresponding amount of gold, which had innate value.
Though the merits of this argument are obviously disputable—most fiat economies no longer operate this way—the critique still stands in the way of mass cryptocurrency adoption for many. They have a point, too. Some economic scholars postulate that the value of a currency like Bitcoin comes entirely from what people are willing to pay for it, and that the long-term sustainability of this system is questionable at best.
Eventually, some argue, the bubble might burst and the values attributed to all of these decentralized coins will crash to the ground. Though many in the cryptocurrency community view this as an obvious exaggeration, it does bring up an interesting point: where does the value come from?
Some new coins are looking to change this system and provide a substantive answer to this burning question of attributed value. This new generation of startups attempt to link their currency to a real-world commodity, thus giving it value that is, in a sense, unalterable and entirely objective. While this is likely to provide the feeling of stability to the market, the success of many of these new coins has been negligible at bet.
GrephenTech hopes to make a run at this elusive goal. This company and its ICO looks to create the cryptocurrency 77G, a currency with value linked to the value and sale of graphene, a chemical derived from graphite. This review will detail the core components of the company and its Initial Coin Offering.
What Is GraphenTech?
Graphene is an allotrope chemical of carbon. It serves as the chemical basis of Graphite, as well as diamond, charcoal, and carbon nanotubes. Despite the prominence in the chemical makeup of these popular items, the chemical has been, in a sense, overlooked as an element of value.
GraphenTech argues that this overlooking was a mistake. In particular, their site outlines that it is the “strongest material ever tested,” and that it conducts heat very efficiently, and is functionally transparent.
How GraphenTech Graphene Cryptocurrency Works
The applications of grapheme are likely the most essential components of its potential for monetization. It can be used for the creation of antimicrobial medicinal substances, for water purification, for entertainment screens, for the development of car batteries, for the creation of strong building materials, and for the creation of important superconductors.
Right now, the material is not applied in all of these industries. As GraphenTech works on applications and inventions to change this, their currency offers consumers a chance to profit off of the potential increases to the value of the substance they work with.
GraphenTech 77G Token ICO Details
- The pre-ICO has not yet started
- Will begin on July 17th until August 7th
- The soft cap for the market will be $37 million USD
- Hard cap of $190 million
- There will be 19 billion tokens created