It gets much clearer if you rethink ICO in traditional business terms (debt, security, bonds, etc.). It is not only very refreshing but this is how regulators everywhere in the World see this. And tomorrow or next day they will come and ask questions.
Exactly so it is better we learn from past experiences and stop funding these ICO's.
This is a good analysis. I am sharing your views. I think we need to learn the hard and bitter way for us to finally realize that we really need to do something in order for ICO to survive. There are good projects and ICOs out there that will most probably succeed in their niche but the sad thing is that ICOs are now regarded generally as more of a scam. This is because of the so many scams using the ICO as a way to earn easy money. The people are gullible that's why there must be a standard so that there will be no more victims.
I think the best projects out right now, are the ones that dont have tokens. Lots of scams in the market right now, and with more standards we can start to ween them out although we cant get rid of them completely.
I think those conducting ICO's have a social responsibility to lift the standards of ICO and be more accountable to their actions. If the industry wants to succeed it should be on the front foot with regulating itself and holding itself to a higher standard. Greater transparency and standards within the industry is definitely needed.
Unfortunately it will probably take a whole lot of people getting their fingers burnt with their investments to really have the incentive required for these changes to occur.
Unfortunately it will probably take a whole lot of people getting their fingers burnt with their investments to really have the incentive required for these changes to occur.
Exactly, I am hoping more people see the need for change. It will all fix itself eventually because like you said, people will get burned. Then hopefully they will realize there is a need for change.
