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Sunday, October 17, 2021
Home News Russian Wood for Cryptocurrency - Timber!

Russian Wood for Cryptocurrency – Timber!

The latest in the ICO offerings,  Lescoin –  a woodcoin – is backed by a group of Russian timber companies. They want to expand the production into an area at the border with China, the main importers of Russian wood along with Japan. For developing at least one production enterprise  it is necessary to raise at least $7 mln.

And they want to tokenize their business to raise liquidity.

“Our offer is mainly for investors who would like to diversify their portfolio, said  the project founder Ivan Gridin. “We are planning to make the very first ICO on the government-backed platform. Despite the the negotiations are on the way, our investors can be sure that tokens they buying  are secure and backed with real commodity, not only pixels”.

The Pre-ICO will close on November, 10. The main ICO will take place in November-December 2017. After the crowdsale, the Lescoin owners can either get the wood or receive the dividends from selling lumber to China. 1 Lescoin is equivalent 1 cubic meter of wood. Processed into lumber it costs up to $200 in the Chinese market.

The company offers generous bonuses to early investors: 50% during pre-ICO

Seeing the production is in the Far East which will become Russia’s free investment zone where crypto-trading will be legalized, there would be no need to release the token on the “official” exchange in order to pass under the free investment regulation, according to the team. 

Investment opportunities in the Russian timber industry

Russia’s timber industry is on the rise as the global demand for wood is growing. In 2016, China alone increased the wood import from Russia by 36%. The Russian government facilitated the trade development by reducing export duties. However, the industry suffers the capital deficit and wear of the industrial base. Russian companies strive to modernize the production.

Russia’s rich forest resources are concentrated in West Siberia and the Far East, known for their vast undeveloped territory. The lack of transport and wood-processing infrastructure there hinders the development of the industry. Suffering the economic sanctions, the Russian business has no easy access to foreign capital. The crypto-market becomes a new promising option.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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