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Author Topic: Regulating ICOs the crypto way?  (Read 34 times)
MoonIsBlue
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November 23, 2017, 10:09:00 PM
 #1

A big part of crypto is its community, with the recent Confido scam and the many scams before this one and the incapability of regulators to find a way to .. regulate we might want to take some action ourselves before ICOs get banned all together.

I'm thinking about starting a community initiative where we, trough some sort of medium such as a website demand that ICO founders create an introduction video of themselves so we can see who we are dealing with and if it is the actuall person he/she says he/she is. As investors we do deserve this right in this wild west envoirment.
If they refuse or otherwise ignore this we can make a note of it and alert the community that there's a high chance of getting robbed/scammed. The resulting effect will likely be that projects comply in order to be able to raise their funds. Something like a 2-3 minute video, just so we can see that potential social media accounts or posts of team members on websites add up. Possibly there are a lot of other extra factors we could include to verify the legitemacy of a project.

I personally think there's a real demand for this and a necessity. I personally would like to see that such a medium would become a must for ICOs to go trough demanded by this crypto community untill a better alternative is found. We must also consider the huge negative image people get on crypto when hearing about these scams, people still haven't shaken the silk road imagery that the media portrayed of cryptocurrencies.

I thought of this a bit out of the blue and decided to create this thread to get some idea's on how to make this happen? Maybe you're interested in helping out to make this a reality?
 
Let me know what you think below!

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