This week, various media published part of a document that contains some details about the mysterious IMMO project, which Vitalik Buterin, Lon Wong, Simon Cocking, Tim Draper and other cryptocurrency experts have spoken out at different times. And although IMMO has not made yet any official statements, information obtained from this document confirms some of the early assumptions that were made by the cryptocurrency community. Now it is clear that the IMMO may have intrinsic value and contains the value of limited resources, that may be precious metals or real estate.
According to the received document, IMMO positions itself as the world’s reserve crypto currency, which is based on resources with a fundamental and universally recognized value.
Until now, it was not known what resources are included in the price of the token, but nevertheless, information has appeared on the legal structure of the project that manages them.
The management of resources occurs within a legal structure in the form of a trust. It is not known whether IMMO completely took over the traditional structure of a trust and how viable is this model in the realities of the blockchain. But according to an anonymous source, the legal model of IMMO has been confirmed by one of the consulting companies of the Big Four.
According to reports, IMMO has developed a stable model of a bundle of crypto assets with real assets. The IMMO cryptocurrency will not only contain an intrinsic value, but will also determine the right to control the trust. In addition, the functioning of IMMO will not depend on technology and time, and the interests of investors will be fully met through a ramified monitoring and counterbalancing system.
According to the leaked document, the IMMO governance model is based on a community of cryptocurrency experts and evangelists. High1000 will unite the "thousands of people, a community of the most respected representatives of the crypto industry worldwide." High1000 members will act as guarantors of the rights of all IMMO tokens, as well as the main governing body. As it has been noted earlier, this management model is similar to the DAO.
The creation of High1000 is determined by a significant part of IMMO resources. For the community members, bonuses are provided for active participation in the development of the project, but it will be possible to get into the IMMO High1000 only after passing the approval of its current participants.
Although no official information from IMMO has yet appeared, at the request of IMMO.FOUNDATION, some employees can already be found on LinkedIn (NYSE:LNKD). However, the main beneficiaries of the project are still in the shadows.
The media has spread rumors about the involvement of the Rothschilds in the creation of IMMO. However, these rumors may be groundless, because until now none of the parties has made an official statement. Probably, the discussion of the relationship between IMMO and the oldest dynasty of bankers is connected with the fact that such a project requires large resources for its implementation.
This article appeared first on Cryptovest