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Author Topic: Any knowledgable thoughts on how to create a healthy environment for ICOs?  (Read 428 times)
amancoin
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May 03, 2018, 04:27:35 PM
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 #1

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?
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May 03, 2018, 10:17:47 PM
Merited by suchmoon (2)
 #2

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.

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May 04, 2018, 10:23:26 AM
 #3

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.


I see, that's a good step towards due diligence. Only IcoBench is doing this? how about others?
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May 04, 2018, 11:55:16 PM
 #4

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.


I see, that's a good step towards due diligence. Only IcoBench is doing this? how about others?

Only this one that I know. Some investment syndicates are also guaranteeing their investor that the due diligence are properly done as an Incentive.
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May 05, 2018, 04:15:27 AM
 #5

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.



I really like the idea of inverted KYC, for me it really helps us to avoid scams here. And also one thing to consider is the bounty manager, the one who manage bounty campaign of the ICO.
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May 05, 2018, 10:25:36 AM
 #6

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.


I see, that's a good step towards due diligence. Only IcoBench is doing this? how about others?

Only this one that I know. Some investment syndicates are also guaranteeing their investor that the due diligence are properly done as an Incentive.
what kind of investment syndicates? please share.
amancoin
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May 05, 2018, 10:26:57 AM
 #7

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.



I really like the idea of inverted KYC, for me it really helps us to avoid scams here. And also one thing to consider is the bounty manager, the one who manage bounty campaign of the ICO.
what do you mean by that? please explain further.
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May 05, 2018, 02:39:20 PM
 #8

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.



This is the perfect example. Another one is creating ICO with real-world benefits, it's not uncommon seeing RL companies offering their shares/services for cryptocurrencies. If you can afford, this is a really good way of business.
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May 05, 2018, 02:48:13 PM
 #9

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.



This is the perfect example. Another one is creating ICO with real-world benefits, it's not uncommon seeing RL companies offering their shares/services for cryptocurrencies. If you can afford, this is a really good way of business.
Real world benefits? You mean benefits to those who join either on the issuer side or investor side, right?
What do think about Accrediting the ICOs? What i mean is due diligence, reserach & accreditation done by well-known trusted entities like a well-known & trusted:

  • Audit house
  • Underwriting house
  • Financial house
  • Government
  • etc

what do you think about that?
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May 05, 2018, 03:03:56 PM
 #10

These ICOs don't need millions of dollars to start, it is ridiculous.  You can be a successful project without having an ICO like raiblocks.
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May 05, 2018, 03:15:02 PM
 #11

These ICOs don't need millions of dollars to start, it is ridiculous.  You can be a successful project without having an ICO like raiblocks.
I agree you don't need millions of dollars to start. and there's a way, do you wanna know how?

yes, you can be a successful project without having an ICO but in the case of raiblocks you need ample funding & resources, rite?
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May 06, 2018, 10:37:36 AM
 #12

What do you guys think about this article?

Saving ICOs from Themselves

ICOs have transformed the startup fundraising ecosystem. A tech startup today can raise funds more quickly and easily through a token sale than traditional venture capital funding. In 2017, ICOs raised over $5.6 billion, accounting for 30% of all seed funding.

But while this quick and relatively easy fundraising method has allowed many promising projects like Ethereum to raise the funds to allow them to prosper, it’s also lets scams flourish.

Scams & Fraud

ICO investors today are at high risk. Many scammers and fraudsters today create an ICO website and setup a token sale with no intention of creating a working product. Instead they intend to run away with the funds as soon the funds are raised. Statis Group has estimated over 80% of ICOs today are scams.

Recognizing the danger to their users, Facebook, Google and Twitter have all announced bans on ICO advertising, to protect users from scams and phishing attacks. The SEC has shut down several ICOs, forcing them to return funds to investors.

Regulatory Risk

Governments have recognized the risk of securities fraud with ICO projects, and there have been crackdowns on ICOs around the world. In America, the SEC has classified most ICOs as securities, barring ordinary investors from participating. In China, ICOs have been outright banned.

For legitimate startups trying to raise funds for development, the current environment of regulatory risk and uncertainty makes it hard to raise funds through a public token offering.

Opaqueness

The projects which are still going forward with token sales are moving much of their fundraising to private presales which have less regulatory risk for the company. But these private presales are opaque and often creates more risk for crowdsale participants.

Creating a Healthier Token Sale Ecosystem

The market needs better due diligence and oversight, as well as better investor protection. To create this kind of environment, we’re introducing the Accredited Coin Offering(ACO) Platform — a way for the market to self-regulate token offerings.

We’re working with institutional partners including banks, accountants, and insurance companies to provide due diligence, credit ratings, and insurance for token offerings.

This keeps the token sale market healthy, eliminates scamming, fraud and unethical deals, and allows true entrepreneurship to flourish and drive success for the new token economy.

To find out about the ACO Platform and our vision for Accredited Coin Offerings, visit www.acoplatform.com
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May 06, 2018, 12:26:01 PM
 #13

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

you can't. do you homework... and if the guys don't answer all questions of all analyst remember it's a big RED FLAG !!!!
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May 06, 2018, 08:52:00 PM
 #14

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

you can't. do you homework... and if the guys don't answer all questions of all analyst remember it's a big RED FLAG !!!!
i came across this https://www.acoplatform.com
could you please take a look & tell me your thoughts?
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May 17, 2018, 05:14:39 AM
 #15

hi how's everyone is doing? do you agree that we need to get the ICO/startups to be accredited in order to create a safe & healthy environment for the ICO/startup industry?

What say you?
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May 17, 2018, 05:33:29 AM
Merited by paxmao (2)
 #16

Simple, abandon the concept the ICO and replace with :
1. Venture Capital if the developer aim to make centralized service
2. Forcing the developer to make/develop few percentage of the project and can be shown/accessed before do ICO/VC.
3. Use community funding system such as what Monero use (https://forum.getmonero.org/8/funding-required)
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May 17, 2018, 06:00:49 AM
 #17

Simple, abandon the concept the ICO and replace with :
1. Venture Capital if the developer aim to make centralized service
2. Forcing the developer to make the few percentage project and can be shown/accessed before do ICO/VC.
3. Use community funding system such as what Monero use (https://forum.getmonero.org/8/funding-required)
great idea. what do you think about this platform i found: https://www.acoplatform.com ? any thoughts?
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May 17, 2018, 03:30:09 PM
 #18

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

One initiative I am very happy with is the "Inverted KYC". IcoBench asks members of the ICOs team´s to prove identity and possibly a bit of the background and makes an special mention of those who pass this requisite.


I see, that's a good step towards due diligence. Only IcoBench is doing this? how about others?

Only this one that I know. Some investment syndicates are also guaranteeing their investor that the due diligence are properly done as an Incentive.
what kind of investment syndicates? please share.

Typically discount buy groups such as Bank to the Future (which I don't like) and some investment funds that sometimes disclose their research to members, such as Astronaut (formerly Picolo Research). I am sure there are others that have the time and resources to do a true Due Diligence.
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May 17, 2018, 03:33:11 PM
 #19

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

you can't. do you homework... and if the guys don't answer all questions of all analyst remember it's a big RED FLAG !!!!
i came across this https://www.acoplatform.com
could you please take a look & tell me your thoughts?

I don't know this one and it would take a while to do a proper research. Sorry.
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May 17, 2018, 05:15:40 PM
 #20

Throughout my experience, i came across a lot of ICO scams. Wouldn't it be great if we can find a way to fix this? Apart from doing due diligence & research on your own, is there any other way to invent some kind of safety features for the ICO dilemma? Let's share our thoughts & idea here...something that's realistic perhaps?

you can't. do you homework... and if the guys don't answer all questions of all analyst remember it's a big RED FLAG !!!!
i came across this https://www.acoplatform.com
could you please take a look & tell me your thoughts?

I don't know this one and it would take a while to do a proper research. Sorry.
please take a look & tell us what are your thoughts Smiley
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