All the hype in the tech world is now totally about Blockchain Technology. Almost all the new startups are incorporating blockchain technology to route their businesses, ensuring impartiality and security. Now what about the businesses that are already developed? How do they mark their territories in the world of Blockchain? How can a well-built business make use of Blockchain technology?
Reverse ICO (Initial Coin Offering) answers it all. It is the idea of revolutionizing the established businesses. When successful businesses want to replace their payment systems and infrastructure with blockchain technology. Reverse ICOs are instigated .These existing businesses accumulate funds through Reverse ICOs, directing their businesses towards revolutionizing technology, into the world of blockchain. Through Reverse ICOs, companies launch a public offering of crypto coins directive to generate funds through crowdsourcing, as well as leverage blockchain based trusted environment for transactions. These funds are raised by business to either expand or to pay off its debts. Such an ICO incorporates token sale to interested investors ensuring decentralization. Reverse ICOs have greater transparency and security as compared to an IPO (Initial Public Offering). In order to be a part of an ICO there are no particular regulatory requirements and this makes Reverse ICOs more effectual and it also provide an opportunity for the users of business to be part of investment. ICO also provide opportunity to traditional business expand their business globally.
The most evident differences between an ICO and Reverse ICO are:
· ICOs are done by startups that have no market history .However; Reverse ICOs are done by well-established organizations that have an enduring history on the market.
· ICOs have no user or customer base; Reverse ICOs have solid user and customer base, which further can increase by reverse ICO.
· ICOs are done by the companies that lack existing products or services. Reverse ICOs are done by companies that have a number of existing products and services in the market.
· ICOs have no recognized team of professionals while Reverse ICOs have established teams of professionals.
· ICOs have the risks of project failure or being scam, but Reverse ICOs are deemed to be secure and failures are close to non-existent.
Reverse ICOs may be launched by the established businesses to set up their own economies within their products and services. For an example, Facebook can induce their cryptocurrency for its in-app purchases. A real life example of this is Kik app. These ICOs enable business to enhance their distribution processes and to better decentralize their ownership and operations. Although ICO markets are risky yet companies that use Reverse ICOs to induce their own cryptocurrencies become more self-governing and robust. It assures the flow of productivity to be smoother and speedier.
World Miss University (WMU) is a non-profit institute that organizes beauty contest every year for peace and provides scholarships to the selected candidates. This organization dates back to 1986 and has a vast on ground history as well as a strong presence.
WMU has started a Reverse ICO with the name of WMU Blockchain tech to make a user base and to make transparent voting system for its WMU Coin project. It aims to create a Peace Public Chain incorporating blockchain technology using RDDPOS consensus algorithm.
Similarly, MOA platform which is best example of O2O platform moving to blockchain. They aim to build a decentralized business ecosystem using blockchain technology where all contributors to the platform share real profits and benefits. MOA wants to enable its users, whether customers or franchisees, to settle all payments within the platform by using the MOA coins through P2P transactions which obviates the need for transaction brokers. It has also initiated its Reverse ICO for fund raising. MOA platform team is working on on casper protocol and sharding.
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Topic: Looking for a platform to market your ICO and Reverse ICO? (Read 122 times)
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