Welcome to a world of magical money.

Currently we are looking to raise our 17 million dollars.

Our maximum amount that we'll be raising is $25 million.

We raised over $5.5 million last summer.

These people are all part of an investment craze that has swept the world. It involves creating a form of currency out of thin air and selling it to people willing to buy it for dollars and pounds.

It's called an initial coin offering or I. C. O. O. C. O. O. C. O. and it's been the focus of events around the world

including one in January in the city of London.

We're at London blockchain week, an event which has brought together people convinced of two things, that blockchain technology is going to transform just about every industry on earth and that there's an

awful lot of money to be made from that, via something called an I.C.O.

There's a craze going on, it might be a hype cycle, but it also could be the beginning of a new,

you know, industrial revolution.

That's Louis Karanza, organizer of London Block Chain Week.

But hold on a minute, what exactly is an I.C.O is an initial coin offering.

Basically a way to raise money for a brand new company by creating a new token like Bitcoin or Ethereum.

It's a new cryptocurrency that you're creating to fund a new startup or project.

And those new projects involve putting a business on something called a blockchain.

What's that?

blockchain stands for distributed ledger technology with blockchain.

You can share data securely with multiple parties in a way that we haven't been able to do in the

past so hospitals can share data, governments can be transparent and you can't erase

everything is immutable and it's there forever from the beginning.

If you want to create something new you add on top, you don't take away.

...