This is true, in contrast to S&C or ICOrating this guy asked zero questions to our team and his article is very well written, but is full of false assumptions or statements, which have very little connection to reality Here are just a few examples:
The only company currently ready to participate in the issuance of tokens is Edway Group Ltd, a partner-investor project. Obviously, the partner company (parent company) is ready to help, but it is not enough, if such companies have no motivation other than a conditional loan with low interest. This creates a risk that Chronobank won’t find a new partner in next few years, but to stabilize the price of tokens it is very important to have a large number of partner companies, distributed geographically and economically (see the price volatility below).
This is not connected to reality, Chronobank has many partner companies even BEFORE the launch of LH tokens. A full list is available in our FAQ.
An important section of the business development that was left unexplained - there is no description of a mechanism for legal cooperation between Chronobank and the Labour-offering company. If the company doesn’t fulfill their obligations on working hours, how would this issue be solved? The lack of legislative regulation of the Blockchain industry does not establish clear accountability mechanisms between companies and Chronobank.
There are clear accountability mechanisms actually, and the process is described in our documents and is almost implemented already in ChronoMint. For every tranche of LH tokens, a legal document will be published on IPFS with the hash stored in the smart contract.
Unfortunately, I have no reasons to believe that the project team will cope with this task - it is incredibly big and serious, but the background of the team does not include projects with a commensurate scale, or even information about participation in such projects.
I see a false assumption here that other blockchain project founders participated in big and serious projects before their blockchain debut.
http://coinmarketcap.com/all/views/all/Let's ask a question about founders of top 50 crypto projects:
How many of them had created big and serious projects before their blockchain debut?
In comparison to most of other projects, we have more business experience than they had on start.
We know how to assemble highly effective teams and get shit done.
Therefore our chances for success are higher than the industry average.
