3 things we need to see in future ICOs.
1.- A higher (much higher) degree of transparency and accountability. Blockchain is already a great step forward in terms of decentralization, efficient crowdfunding and attractive investment opportunities for the 99% at very early stages of high risk / high yield projects, but there is still room for development in terms of transparency and accountability. We have watched some shady ICOs turn into open fraud. Some people have lost their investment after buying a cryptocurrency that never had a sound business model backing it. We demand, as a community, to see much more value-adding projects, solid business cases and long-term self-imposed transparency mechanisms.
2.- A more ambitious approach towards global challenges. Future ICOs could bring much more value to the world economy if they go beyond disruptive business models and propose moonshots aimed at contributing to solve aspects of the greatest global challenges, such as hunger, extreme poverty, climate change and biodiversity loss. The opportunities are there. Why can’t the next ICO address climate change and carbon footprints? Why can´t the next ICO propose a solution (and a sound business case) to protecting ecosystems while empowering communities with sustainable agriculture models? Why can’t the next ICO blow our minds with a plan to improve the existent medical research networks and get us closer to curing diseases like cancer and diabetes? Commitment to causes (deep-rooted, ambitious philanthropic and environmental causes) other than the mere economic benefit, will surely be rewarded by the crypto community.
3.- Proof of concept. We (the community) need to see that the people launching an ICO have invested themselves enough effort and resources as to have already some value backing their project. Those who have been creative during the scarcity of resources at the early stages of their projects are the ones worth investing in because they will also be creative during the abundance once we have invested in their projects and they have raised millions of dollars. Let them prove the value of their project and their own investment before we all invest.
Let us support those projects that have gone the extra mile in generating value before the ICO, shown commitment to environmental and philanthropic causes and created strong transparency mechanisms.
Great post! Thank you! Very informative!
This post is amazing, however, we have to be creative and smart
Super app...! Looking at the past track record it's hard to argue with the results. I'm impressed, keep up the good work donation coming your way if this keeps up
https://play.google.com/store/apps/details?id=com.cryptosignals
Thank you very much!! This community is fantastic to inspire people to learn more about the potential of the cryptos and blockchain. I am following you too!
thank you for your hart work, appresiating
Thank you ! Cheers! =)
So far all my ico investments have served me well... thnx for this post. upvoted and followed.
What are some indicators of ICO ponzi schemes? I am eager to get into ICOs but need to do a lot of research :)
It depends what do you mean by ponzi scheme, there are a lot of businesses outside crypto that start & fail... same here... look up my posts about the latest craze ICO .. dont be too late though..
How do you see Electroneum ICO?
There are 1146 coins and tokens in the market.
Wow! That is a big number! I did not know that! Thanks for the info! =)
You are welcome.
Hello, @taspingo ! I had in mind what you mentioned (the number of coins and tokens) this morning as I wrote my new post. Maybe you will find it interesting! Let's keep in touch! Cheers!
https://steemit.com/ico/@cryptotequila/towards-transparent-and-responsible-icos
Welcome with you as a friend any time.
@cryptotequila i think despite all of the points especially proof of concept is a really good one. because most of ICOs that we are seeing right now are based on ethereum network...
Thus majority of ICOs won't be able to deliver results as they are depending upon Ether Network and it's not yet have the respective features that most ICOs are claiming to provide...
So Beware Friends
Nice Job mate, Upvoted and Following you...
Thank you very much for your comment! It is an important point, what you explain. I am following you already too! Cheers!
great articles..
Thank you very much for your comment! I am following you already.
soo. like EOS?
Great article, couldnt agree more.
As we come by more accountability the market will self regulate increasing the power of the decentralized hipotesis that makes the blockchain so powerfull
Following the decision of this summer, according to which the project "TheDAO" of the Etherium was in fact subject to SEC control, it is not surprising that this service carries out a rather active approach with regard to ICO monitoring.
The boom of the ICO was unprecedented, in 2017 the total investment was more than $ 1.5 billion. Many of these ICOs were fraudulent, or the result of some vague ideas in the heads of several potential entrepreneurs.
Since, many ICO offer "tokens" are similar to "shares", it becomes clear why the SEC is interested in regulating this area.
Yeah, there's a lot of fake coins out there who just want to do a quick grab of money form people.
With the crypto craze accelerating since the start of this year every man and his dog are trying to get on the horse.
But there are also many exciting new (and old) coins out there for example Ripple, Neo, Bitshares, and also check out Power Ledger from Australia.
Thank you very much for your comment! It is true. And we should demand to see these characteristics in future ICOs. In the long term it is better for the companies as well, since the global challenges are every man's challenges, even when he does not see them. I am following you already! Cheers!
"3.- Proof of concept. We (the community) need to see that the people launching an ICO have invested themselves enough effort and resources as to have already some value backing their project."
This is, for me, the most important thing to consider.
Any person/people wanting to launch something new can show "A higher (much higher) degree of transparency and accountability" and "A more ambitious approach towards global challenges" for a certain period of time.
But having the perseverance to continue on, to believe on something they've created, having the commitment to their project is the biggest, at least for me, factor to consider before investing to these ICOs.
If we can see that they are really value their project, we already have the assurance that this ICO is worth it.
Thank you very much for your comment! I agree with you. We do need to see that. That factor alone can tell us most of the story.
I am following you already. Cheers!