Tacoma cybersecurity firm Topia Technology is debuting a new digital currency — the TopiaCoin — which it is establishing to fund development of a new security platform.
The company announced an initial coin offering of 300 million TopiaCoins, with a presale period to begin tomorrow. During the presale process, the tokens will be available at varying prices; public sale will begin on Nov. 6 at $1 per TopiaCoin. Unlike various other cryptocurrencies, anyone participating in the ICO is required to be an accredited investor.
Funds raised through TopiaCoin will be used to combine Topia’s established encryption technology with blockchain, a “distributed ledger technology” that keeps many digital currencies (most notably BitCoin) secure.
“The TopiaCoin ICO is the first step towards a truly game-changing moment in data security to address the crisis large companies, governments, and individuals face today,” explained Janine Terrano, founder and CEO, Topia Technology. “We recognized that significant enhancements could be made to how our technologies serve our clients through blockchain and TopiaCoin, and look forward to delivering even more value to enterprises and individuals alike following our TGE.”