ICOs: What You Need to Know About Them - Interview with Anar Babaev,

Alt.Estate

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Quote from: victory1 on September 24, 2017, 12:59:40 PM

But investors should beware. The one thing that has not changed over the centuries is the feverish activity of fraudsters and thieves to take advantage of peoples’ naiveté and enthusiasm.

Makes sense for any sphere of our lives. You cannot help but do your best to be very careful everywhere. Good projects are still good. The trick is to find and recognize them as such, in good time.

victory1

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ICOs represent a modern version of crowdsourcing for companies, and its use of tokens and sophisticated approaches to leveraging, sharing, and building is completely redesigning the investment landscape.

But investors should beware. The one thing that has not changed over the centuries is the feverish activity of fraudsters and thieves to take advantage of peoples’ naiveté and enthusiasm.

leea-1334

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That is the only differentiation with the majority of ICOs, that you need their tokens to buy/trade for their services. But this is really not much different from some MLMs, where you need certain points or levels to buy some of their products, forcing you to collect or refer people. This is one reason why the authorities are concerned and see ICOs as pyramids or MLMs.

Worse, some ICOs issue tokens that you can do nothing with!

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Najnowsze Wiadomości ze Świata Bitcoin

Token holders’ reward is the opportunity to use the product or service which would not be available to them without a token. Think about it as an exclusive private club in which only the members get access to certain discounts, economic benefits or offers – says Anar Babaev, co-founder and CMO of ICOBox in Bithub.pl’s #SundayInterview.

ICO is essentially a form of crowdselling. However, there are quite a few crowdselling platforms in the internet, many of them addressing specific types of projects. Why would ICO be better than, say, Kickstarter?

Anar Babaev: Indeed, as a crowdsale technology ICO is similar to Kickstarter, with one major difference: since it is implemented on blockchain, it is much more secure and transparent. It is a tool for conducting sales of tokens backed by specific readily available products and services – not just a bright idea or a pie in the sky. Kickstarter targets general audience, and although until recently ICOs tended to focus exclusively on high-tech blockchain projects, ICOBox intends to shift the situation by bringing into the fold non-blockchain startups that are seeking new markets for their products and services.

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