Hicky, a Tinder-like mobile app launched on top of the Ethereum blockchain, has been conducting an initial coin offering (ICO) to distribute its token HKY, which is compatible with the Ethereum network’s native cryptocurrency Ether.
More than 24.1 million HKYs have been raised, surpassing its soft cap. Given that 1 Ether is equivalent to 7,500 HKYs, the blockchain project has already secured over $2 million in funding. The project has also secured some of the world’s most prestigious educational institutions in Harvard University and Stanford as official partners.
Essentially, Hicky is similar to a decentralized and tokenized version of Tinder, wherein sensitive personal and financial information of users on the app are not shared or monetized, which many applications do. Recently, it was discovered that PayPal shares information with 600 entities on a daily basis, as noted by blogger and podcast host Owen Williams.
Hicky eliminates the possibility for any administrator or operator of the network to share the information of users, because like how non-custodial wallets do not keep private keys of users, Hicky does not have control of user information. Through the utilization of Ethereum smart contracts, users can be reassured their information remains private and inaccessible by third party service providers.