The Helbiz team had ICO in 2018.
Helbiz coin holders lost their money.
Now Helbiz is going to IPO.
Helbiz coin holders filed a class-action case against Helbiz Inc., Salvatore Palella and others.
Case filed in New York Southern District Court on June 19, 2020

Helbiz Blockchain

04.04.19

Helbiz Blockchain

Actually, Helbiz works on the blockchain and Ethereum smart contracts.

The lead blockchain developer of Helbiz is Carlos Beltran. He described, how Helbiz blockchain is working, and what is the technical perspective. It's a big article with some technical moments.

Also, I recall you about part of "HBZ payments are alive!"
It's important to note that we're not processing payments for EACH scooter rental on Ethereum, only the initial deposit of tokens. We are managing tokens this way because they are acting as in-app credits for this use case. More importantly, we avoid paying gas fees.

Eventually, we'll process token payments on a private blockchain.Anybody can be specific and obvious. That's always been the easy way. It's not that it's so difficult to be unspecific and less obvious; it's just that there's nothing, absolutely nothing, to be specific and obvious about.
Helbiz Official
Also, it's a part of some chat between Helbiz's investor and Helbiz's developer: