The market is full of ICOs and because of that it makes it very difficult to discern and find which are good ones.
But what do we mean with “good” ones?
It’s not a simple question if they are scams or not!
Some may start with good intentions to deliver a product, but delivering a product is one thing, being useful is another thing. Also do they utilise their token, and if so how and to what extent?
So how I define a good ICO? By simply answering the following questions which i consider very important ones as crypto project is a form of business.
Doing my research I found a project called
DIW Token that answers in reasonable extent my questions and I find out that can also help the whole community. Please check the results of my research and feel free to express your thoughts if you agree or disagree with me.
1. Q: How it utilizes blockchain technology?
A: DIW utilizes blockchain technology by using ready made technologies on blockchain, this saves a ton of developers time and money, also its entangles the ICO community together as one. It develops new security protocols that can be utilized and trusted only by the blockchain network and not centralised servers.
2. Q: What problem/s does it solve?
A: How many times do people get scammed in digital world and real life?
i.e.
An individual or a company is pretending that is selling some quality tyres, you choose what you want, you pay and you end up receiving nothing.
How many times has someone pretended to be someone and is someone else?
How safe is it to save on a centralised server or on your computer sensitive data such as: Passwords, Login Credentials ,Visa Card Numbers, Cryptocurrency Wallet Seeds?
All those are serious problems that people are facing on a daily basis.
DIW solves such issues with the following:
* Identity verification, which offer scammer protection
* No double/fake accounts
* The Seller identity is real (verified KYS)
* The Buyer is real (verified with KYC).
*Payment is secured for buyers and sellers from DIW Escrow service.
*Sellers have personal ratings in DIWs Global hub that ensures the quality of their services.
*Ensures ultimate security for very important and sensitive data storage, transfer and sharing.
3. Q: Is it a realistic project with a realistic approach?
A: DIW utilizes blockchain technology to the max by utilizing ready made technologies on blockchain, this save a ton of developers time research and money, also it entangles the ICO community together as one.
DIW offers an infrastructure of a complete A to Z platform that utilizes already developed real products on blockchain, and reinforces them by new secure protocols that ensure the maximum possible security.
4. Q: Is the project made for the masses or just for the few?
A: The problems that DIW is solving are problems that most people around the world are facing everyday and are struggling for solutions. That gives the project the chance to become something big.
5. Q: How does the project utilize its token in its ecosystem?
A: DIW utilizes in a big extent its token.
Data Storage, Data Secure transfer, Escrow Service, Assessment, Product purchases through DIW payment gateway, Global Directory Rank Push (if a member want to appear in the top of the list).
6. Q: Is the amount asked for funding reasonable?
A: Yes as DIW is building the infrastructure for a platform that will utilize seemingless blockchain technologies and new blockchain protocols that will ensure the ultimate security.
In order for projects to be developed and marketed correctly they need a serious amount of funds as we talk about new technologies and new products. Also, companies need to hire employees in a niche market, buildings, advertisement, improvements in technology, market research etc...
7. Q: Can the team deliver such a product?
A: From my research the project has a highly motivated and transparent team with a very strong background and a solid rock idea that has utilized in such beautiful way the blockchain technology.
Conclusion:So what was so interesting in that project that was worth my time and research?
First I will explain in very simple words how do I envision their payment procedure that they offer.
It’s like I’m buying tyres in a nearby shop in my city. It’s like a face to face transaction. You know that the shop and the owner exist for real because they are verified in the DIW platform.
You know that they selling tyres (KYS). The supplier knows that you want to buy for real, this is why you visited his shop (KYC).
You heard from other people in your neighborhood that this shop has good quality tyres this is why you went to that shop in the first place (DIW Global Rating System) .
You pay and you receive the product (DIW Escrow Service).
Are the same procedures with real life interaction but now in a digital more secure and luxury form..
Also in terms of security for sensitive data they offer a double layer of security which include software and hardware protection.
All real life interactions utilized in a secure digital form using blockchain technology.