Topic: Do you think that ICO can completely replace traditional financing from banks? - page 2. (Read 1855 times)

You are right it cant really replace the tradition bank loans when we are talking about ICO it might be possible on online world or making crowdfunding but it wont work anytime as we pleased and does depend on peoples interest if they would decide to put up money or not.If they saw that you do have a good project then you might possible get funds but if not, you would still end up on making loan or requesting on banks once again.

ico and bitcoin never replace position bank function
but if business need investor and big money if fast and solution use ico selling
because never use guaranteed same loan in bank

Slowly but surely, the value of the entire cryptocurrency ecosystem is growing in an ever expanding bubble. While on the other hand, consumer trust in banks continue to decline, and the banking cartel is slowly losing its grip on the society.

I think it's a little drastic to say "replace", but yeah sure, it'll either take a looooong time if things don't change, or some drastic change must come soon to turn the tides around. But eventually, the power will return to the people, and yes, banks as we know today will not exist in the distant future.

Do you think that ICO can completely replace traditional loans scheme from banks?

There is quite a lot of successful ICOs now. Cryptocurrencies and ICOs exploit a very simple phenomenum - currency have some value because people add to them this value.
So, while mined currencies have obviously some invested values, in case of ICOs the value is often is a result of the estimation of the value.
So, let s say that some organization produces ICO coins like 3000 ICOCs and each of them costs 1 bitcoin.
They raise 3000 bitcoins and sell 3000 ICOCs. If people believe in the project, then they would avoid spending ICOCs and would rather spend their offline currencies, like usd, euro, roubles etc. therefore reducing offline currencies value and increasing crypto currencies values. So, let s say there was 1000 usd or 1 btc before ICO and after ICO it has converted into 1000 usd or 1 btc for the market added value. Why 1000 usd? Because we had 3000 btc and 0 ICOCs and after ICO we have 3000 BTC and 3000 ICOCs, each having value of 1 BTC and making total value in the market doubled and equal to 6000 BTC. Why 6000 and how it happens? Because currency value is based on the market belief that project is worth 3000 BTC and project therefore raises market value overall by bringing workpower of its team into the market and converting it into project value estimation.
Where this value is coming from? Simple. As I ve said, people prefer to convert BTC to ICOCs, rather than convert them to USD, EUR and roubles.

So, the value of ICOCs is coming by taking value from traditional currencies. Isn t it what we all are looking for? Taking money from traditional, inefficient markets and investing them into perspective markets, teams and technologies?

Therefore, cryptocurrencies, in principle, using ICO methods and making appropriate high quality projects can suck into themselves the global economics by providing funding to the commercially prospective projects, taking liquidity from offline markets.

 
Actually, I would say that this can create an entrepreneurship and venture funds, which will be specializing on ICOs and bringing investments to good teams.

Are you interested to become a part of such a project?

So, let s say we consider startups, which needs from 500 to 5000 BTC investments.
What can be universal algorithm and what team is required for making serial multidisciplinary non-scam ICOs?

1. Headhunting team - for each specific case, for brilliant ideas and strategies, headhunting team evaluates
2. Project scouting team - experts in different high technologies teams together with HR experts can scan startups (actually as well as more traditional businesses, but with exceptional teams) and find prospective, underevaluated teams/startups
3. Marketing/PR team, which would work on promotion of the project and ICO campaign.
4. Smart contract developer for pre-sale, ICO and bounty campaigns smart contracts
5. ICO preparation team – editing white paper, making web site design, making logo design, making pre-ico/ICO page etc.
5. The team and the advisors for the project itself

What do you think about such a serial entrepreneurship scheme?


So, whom do we need now?

•   Universal marketing/PR specialist, who can get in touch with other marketing people, distribute tasks to them and involve separate marketing manager for each case
•   Universal HR manager, who will be looking for professionals into startup teams.
•   White paper manager - person, who has good experience with white papers and can help in editing/shaping white paper
•   Designer for logo design, white paper design, web site design
•   Professional seed investments/startup investments experts/scouting, looking for startups on regular basis

So, if managed properly, ICO then can replace traditional funding sources.