IMMO reserve cryptocurrency has been gaining a lot of traction in the past few months. The popularity this project is gaining is because of involvement of famous personalities such as Vitalik Buterin, Lon Wong, Jimmy Song, Tim Draper, Simon Cocking and other experts. There are reports that some of the employees of G20 financial ministries are also monitoring the development of IMMO.
Until recently, IMMO’s purpose had been mysterious but thanks to a newly leaked internal document, we have the opportunity to learn some details about the mysterious project.
The IMMO project is a reserve cryptocurrency, which is basically secured by valuable resources. However, there are many projects currently who hope to do the same thing as IMMO. To set themselves apart from these competitors, IMMO has a wild card.
Management and development of IMMO will gather High1000 – a decentralized cryptocurrency community consisting of experts and evangelists.
The IMMO will be controlled by a sort of a council called the High1000. These will be thousands of people among the most respected experts and most important members of the community. The members of this community will have the right to vote on the most important decisions that will be taken by the foundation and will jointly decide its future and its development.
The community members will receive bonuses depending on their level of involvement and awareness of the project. But it is not so easy to get into High1000, as only existing members can process and approve incoming applications and this is possible only if certain criteria are met.
Can Anyone Be A Member Of High1000?
Theoretically, yes. Anyone can apply on their website, fill up a form and be eligible for selection. But chances of a Tom, Dick or Harry to get selected is lesser than the chance of you winning a lottery.
To give a perspective on how tough the selection criteria for a common-man can be, here are a few questions asked in the application form.
- Question 6: “Please specify what crypto conferences have you already spoken at. At what conferences will you been speaking this year?”
- Question 7: ” Are you on the list of top experts on any crypto ratings (ICOBench, ICODrops etc.)?”
- Question 8: “Have you ever been an advisor?”
- Question 9: “Do you have a large community of followers across social networks or other media sources?”
Chances are most of us don’t have a convincing a for even one of these question, much less all these questions. Apart from these questions, the form concludes with the question. “Do you have recommendations from existing members of High1000?” It is rather unlikely that we will be able to get this recommendation, considering there are very few members enrolled already.
Conspiracy theories and criticisms have sprouted up all over the internet. Critics are saying that IMMO is just a way for crypto-elites to influence the crypto-market. People have gone as far as saying this is a Rothschild's attempt to impact and control the crypto ecosystem. However, most of it is speculation.