Misunderstanding in ICO smart contracts

[artras]

Hello fellow guys!

In the process of developing a smart contract for ICO, I analyzed more than 100 different ICO contracts and came to this conclusion - the idea of ICO smart contracts in time had been disrupted!

Smart contract is a version of the contract between the parties on the blockchain, that describes the obligations and rights of the parties. If this is so, why are ICO contracts tailored to the needs of one party - the project (creator of contract) and do not protect the investor?

How did I understand this? - In most cases, contracts are written the way, that contract holder can manage investments before the minimum investment amount is reached. Many do not even have a minimum amount of investment .... If the project does not collect the minimum amount, then the return of investments to investors is not provided at all or is done manually.

Thus, a smart contract is bluntly used to generate tokens, although it can and should do more!
As a result, investors and their investments are not protected and the investor has a big risk of becoming a victim.

What do you think about it?

[artras]

Still waiting for your comments 

[ulhaq]

Everyone already knows this. Did you only just now realize how it has worked?

[berrygood]

Because no one cares about your investment, they only care about the money you invested in. Even there is no regulation till today.