A general overview of Icon (ICON), its idea and features.
ICON is a digital token of the ICON platform which wants to become the platform for combining all blockchains in one place. To explain it with simple words, blockchain of ICON will interact with projects which took as a base blockchains of other projects — Ethereum, Bitcoin.
To explain work of this project, let's present a simple situation. There is a man who got sick and it is necessary for him to go to a hospital to get a proper treatment. In hospital it will be necessary to show some ID according to which hospital will be able to make request in insurance company to find out whether the patient has an insurance. This project will be so automated that in case of treatment all insurance payments to the patient will be paid into his account. That’s how different structures will interact among each other without boring paperwork.
According ICON's official site, this fund is supported by large investment funds: Pantera Capital, Kenetic Capital and CM Crypto Capital. It is supported by the Korean government, as well. Also they already have arrangements with brokers, some hospitals, universities and with several banks. This partnership means that all these organizations will have own blockchain which will be able to interact among themselves, creating the small blockchain world.