SA’s Ekasi Bucks ICO falls short of R50m target, nets just R500 000

South African blockchain consultancy Ekasi Bucks has fallen far short of an ambitious target to raise R50-million in an initial coin offering (ICO) to fund a Blockchain-based rewards programme for township residents that buy from certain affiliated township businesses.
Ekasi Bucks’ ICO, which kicked off on 25 September, came to an end yesterday. The platform raised just R500 000, the site’s co-founder Lucky Kgwadi said today.
He however said most of the R500 000 — which had come from US — was returned to investors. The platform has retained only about R100 000, netted from non-US citizens — including investors from India. The R100 000 has none the less allowed the startup […]