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The HireBits token will be issued by us, after the completion of the token sale. We aim to enable the use of the token in the HireBits platform. Some of the tokens will be spent to enable users, institutions, and partners for their transactions on the platform. As backers for HireBits, token owners can either hold them for future use or trade them on exchanges. Due to a lack of regulatory consensus, the tokens will not provide dividends or entitle owners to share profits from the business. However, we believe the fundamental business behind HireBits will have some impact on the value of the HireBits tokens over time. We believe the HireBits business holds sufficient diversity to be attractive and profitable for traders and investors with different objectives. The HireBits token will be implemented as an ERC20 token over the Ethereum blockchain. ERC20 allows us to leverage existing resources built for the Ethereum ecosystem, including tools, exchanges, wallets, etc. People can buy, sell, send, or receive HireBits in the platform or convert it to fiat and withdraw.
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