Using blockchain with no visible reasons

[gervais_zion]

Hi everyone!

I'm new here, but had some previous experience in crypto, ico and even mining)

Few days ago was checking icorating.com and found one strange project - VuePay. I've read their WP and realized that it's actually nothing more than an advertising agency using blockchain just for fundrising through ICO scheme.

Basically it will be something like youtube, vimeo, etc, but with one detail: small part of the revenue, recieved from the advertisers, will be paid to the customers and payments will be in their own token VUP.

Let's assume that most of crypto community is pretty smart, so why should I buy their VUP tokens on the ICO for real money (my own money), if I could wait untill the platform's launch and recieve the same tokens for whatching ads there???

I've tried to find any reasons for this in WP (maybe extra bonuses, or else) but there is nothing about! ICO tokens are quite similar to reward's tokens....


Another stupid thing in this project is blockchain. For what exactly, service like this, will use blockchain? To store LogIn information or what? WTF??

For now website is online, but information on it is still the same as on date when I first came there. And one small detail which confused me - there is no SSL-certificate. As for me it's such a shame to ask for people's money and not care about basic security.

Maybe someone know more details about this project, will be very glad to hear!

[trickyriky]

VuePay has just started it's work, so it is not easy judging about it's efficiency or perspectives. However, it uses Ethereum platform, which is reliable.
It is supposed that users get benefits from ads paid by advertisers. Something like this.

[dpositMaster]

This is the question to be asked for the majority of ICOs, why do they need blockchain, especially when many of them would be run better off-chain. For many projects ICO and tokens are there only for the funding reason, however it can be argued if it good or bad. 

[chocopapaya]

I don't understand people defending ICOs that clearly have no legitimate reason to incorporate blockchain technology.  I guess it's because they invested in one of many terrible business ideas?

Well, actually, the visible reason is right in front of us: they want your money.

And as long as there are people pumping money into ICOs left and right there will be projects with very little value popping up to take your money and leave you with a bag full of nothing coins.

[gervais_zion]

VuePay has just started it's work, so it is not easy judging about it's efficiency or perspectives. However, it uses Ethereum platform, which is reliable.
It is supposed that users get benefits from ads paid by advertisers. Something like this.

I agree about Ethereum's reliability but still can't understand why do I need to purchase this tokens now if they will pay my rewards in them (like for free)

And yes, it's just marketing agency and nothing else.




Generally, ICO(s) is really cool opportunity to raise funds for a small or even family enterprise. I do a lot of research in ICO(s), whitepaper(s) and so on every day and about 50, maybe even 60 % of projects are doing nothing and idea is @Phhhh@...

[BitcoinLoan]

Ethereum platforms are reliable, reliable and cost effective. VuePay is new and it's hard to judge its effectiveness.

[gervais_zion]

Ethereum platforms are reliable, reliable and cost effective. VuePay is new and it's hard to judge its effectiveness.

So let's see what will happen to this project later.

[Willful_Grok]

Many of these companies have projects where blockchain is not essential.  They assume that just by having 'blockchain' in their description means that customers will flock to them.  Care more about the business plan and how they will generate value if you choose to invest.

[max6575]

to work as displacing unit of assessment as user might gains with the chance as being within the parts of customs of manage with the entrance on field of the crypto currency schemes of the finance.