My two cents on ICO’s per say and why I like the Change ICO
ICO is the new buzzword that has taken over the world as never before. And the never before can be emphaised from the fact that almost 2 Billion Dollar has so far moved in the ICO world.
Remember when crowdfunding was launched and it was only over a period of time that we got to know about it. But ICO’s are a different ball game altogether. It seems as if the world is on fire with ICO’s.
I have personally followed almost all the ICO’s till date and looked at the PRO’s and CON’s as well as tried to understand the industry as well as the need that they cater too. Look at it this way, two large scale disruptions back to back: BlockChain brought around a disruption with the decentralised networks and the by product of Block Chain system - crypto currency is the next big disruption that was the next wave as people realised that currencies in the BlockChain era could be decentralised and control taken away from central banks where the trust is gradually dwindling with every small or large failure. These two disruptions meant and also created a need for a new ecosystem to be created which could support the next step of increased usage and that was a Start Up ecosystem with increased use of the first two disruptions. The new start up ecosystem needed funds to survive & grow, which led to this huge phenomena of ICO’s that the regulators are still coming to terms with.
ICO’s aren’t or were never supposed to be bad, they are just a mean to get the ecosystem of the Bockchain disruption off the ground to compete with the rooted channels of existing centralised system. Why is suddenly everyone worried with just around 2 Billion Dollars of a funds raise in disruption while most didn’t even bat an eyelid while the Tech Unicorn’s raised billions of dollars with the key selling points being: need in the market(Problem), future growth prospect(Scope), Technology (Intellectual Property) and consumer size(Revenue scope). I have been invested in technology and with exposure to multiple start ups as Founder, Co-Founder, Business Leader and Consultant too, with my own share of failures and successes know for sure that customer acquisition is the largest cost borne by the start ups today and technology is the next big cost. That is exactly what legit block chain based start ups are trying to achieve and in complete absence or lack of regulations ICO is was the nearest way to do it. A healthy sign for an industry that is yet nascent. It is self-evolving.
And again as with any other industry we have a few bad apples in this community too, which is a reason for worry but will gradually be weeded out with people getting more educated on the nuances of evaluating ICO’s like any other start up seed investment. I have my own checklist and Change ICO is an ideal fit. I list my checklist here and how Change makes sense:
- Is the team profile public? True — Public & Verifiable.
- Is there experience relevant? True-Relevant from a perspective that the key leaders are not first time Entrepreneurs, are related to the finance industry which is the target domain for the ICO.
- Is the need relevant? True — With increasing accpetance and real world use for crypto currencies there is a true need for a marketplace that can cater to the needs of the consumers as a single point of service and solution. That is what they intend to be.
- Can they connect to the real world? Partially True-Healthy and legit conversations with current real world players like visa and relevant background in the founding leadership.
- Are their endorsements genuine? True-So far all endorsements are verifiable and from reputable sources and not just paid celebrity endorsements.
- Is there a pyramid scheme in on-boarding crypto? No-Sure shot way of calling the bluff. Any one in the pyramid offers wants to raise quick bucks with no real implementation plans and should be banned.
- How good are they when marketing organically? Clear and Crisp-No bombarding but natural marketing plot.
- Are they amongst the first movers? Yes- No other marketplace offering yet.
- Are they on an established platform or a completely new structure being offered? Based on Ethereum.
With these and more factors that I personally believe in and in no order per say, I really believe Change is here to succeed and is going to play a long lasting role in how things behave in the Crypto Currency world. Personally, I had recommend Change strongly over any other ICO right now.
Rest as they say, you can only deny disruption till the time it is un-denaible. This tsunami of BlockChain, Crypto-Currency & ICO’s will change a lot of how we see the entrepreneurship ecosystem.