Halloween is just around the corner and the world is gearing up to celebrate with jack-o’-lanterns carved into pumpkins, costume parties, bonfires, haunted house trips, and of course, the crowd favorite trick-or-treating. People masquerading as ghosts and ghouls and kids dressed up as witches and warlocks going from door to door gathering candy or getting tricked is a regular sight and all in good fun. Change the scenario to the real world, with scammers on the prowl, disguised as well-intentioned people out to fleece unsuspecting investors and things certainly aren’t fun anymore. Yet, almost every other day there’s news about another scam unearthed around the world.
This scenario is most prevalent in the highly lucrative and extremely ICO world, with estimates by Satis Group suggesting that a whopping 81% of all ICOs eventually become scams. The very nature of ICOs is such that there’s no system to hold the company running the proposed project, accountable for keeping up to its promises. All the science and calculations aside, investors mainly rely on their gut instinct and a prayer on their lips when putting in their hard earned money into projects, with even projects by big companies going kaput. Having absolutely no control of your investments and seeing it vanish before your very eyes surely is far worse than any spooky sights during Halloween! So, is there no light at the end of this dark tunnel?
Well, a highly ambitious project called SmartContractChain by Halisto GmbH — a Switzerland-based company focused on Distributed Ledger Technologies and Fintech — dreams to slay the dragon of deceit and treachery that has besieged the ICO kingdom. SmartContractChain or SCC is a proposed crowdfunding platform that aims to bring sanity back to the way people invest in projects, ensuring that companies developing the projects are held accountable for their progress with the project.
SCC leverages the power of Blockchain to usher in a revolution in the space by allowing investors and genuine project stakeholders to connect with each other without any geographical restriction, thanks to the use of cryptocurrency. As for the security of investments, SCC allows for deployment of smartcontracts that ensure release of funds in parts, as and when the project achieves predefined milestones mutually agreed upon by both parties. And to really bring in the cheer, SCC also allows companies to launch Initial Loan Procurement (ILP), wherein the company enters into a loan agreement with the investor, and the investor stands to earn interest on the profit made by the company on the project. To make the deal even sweeter, being a loan agreement, such investments are not taxable in most countries. Now that is reason for a celebration all year long! Happy days are here again.
https://smartcontractchain.io
Topic: Investment in SmartContractChain During Halloween ;) (Read 81 times)
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