Initial Coin Offering is a new trend in the blockchain community. It is an alternative to crowdfunding and can change the way companies capitalize themselves.
According to a statistical report, the total amount raised in ICO in 2017 is $2,345,301,347 compared to last year’s $96389, 917, which is twenty-five times more than this year’s first nine months accumulation. The number of ICOs is growing at a rapid rate directly proportional to arising number problems.
How to Choose a Suitable ICO
Always Look At An Excellent Team
The more experienced they are, the less the chances of failure. For instance, Genesis Vision founders have an enormous experience in development of financial software and foundational systems mixed with in-depth blockchain knowledge. Dmitry and Ruslan are reputed winners of the block chain contest with a commercial platform at HackRussia.
Fintech Company is known for the production of tools for brokers, and its CEO is Aleksey Kutsenko. The firm provides software to over three hundred and fifty companies and brokers all over the world.
Consider the History
You have to consider the history of the company consistently. For instance, what did the firm do before the ICO? Genesis vision project already has a significant potential client base. The existence of contacts and clients allows linking as many brokers and transactions due to the availability of Tool Brokers.
Always Consider Opinions From Experts
Experts will provide you with a clear understanding of the existing market. For example, Genesis Vision has professional advisers from the financial industry. These experts cover most tough obstacles and minor issues due to their prolonged experience in the field.
Legal Issues
Legal issues are very crucial and a company like Genesis Vision incorporates in Ireland is legally patriotic to ICOs. Various licensing institutions certificate the company’s code. It typically means that the company‘s team is effectively counter-checked and interviewed. Fintech experts reviewed all the legal, business and technical issues.
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Demand during Pre-ICO
Did you know Genesis Vision took two weeks to achieve a target amount of $2.3 million orders? This amount is for an ICO option campaign. The pre-order was due for a schedule on 15th October. However, the demand was immense that the company’s team had to decide to terminate the campaign much earlier.
But there is a lot more you can do , the following elements can also be crucial for an ideal ICO:
• Efficient technology check
• The ability to protect scams
• The proof of its ability to execute
• Proper utilization of funds and business-based inception for minimum and maximum raise
• A permeable ICO process
• A designated legal framework
The Crucial Role of” ICONOMI”
“ICONOMI” was able to raise a whopping amount of $10 million US dollars for their fund management platform. They still face a critical challenge: it has reserved a large part of the investment for the ICONOMI fund that will apparently invest in initial coin offering.
In evaluating possible finances, the organization realized that it could agree with ICO critics. Its commitment to creating a fund that will invest in ICOS and still provide protection to its investors is crucial. ICONOMI believes that there should be a divisive way to enable entrepreneurs to target on business and development.
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It is so while providing a stable level of interpretation and investor protection. The ICO investor fraternity should explain basic standards and build best practices. It will help more projects to succeed, investors to gain more profit and the improvement of the whole ecosystem.
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