ICO to the ‘gentiles’!

Why would ICOs be limited to blockchain tech startups? It is like supposing that bank loans are for financial institutes only because the bank loan is a financial instrument hence it can only be used by the financial industry! Ridiculous!

My ICO vision is that one day any businesses (even regular, brick and mortar businesses) will launch ICOs at will if they need to raise funds for any sort of business purposes.

Today an ICO (Initial Coin Offering) is expected to be run by a startup with nothing more but a white paper about a strictly blockchain related tech project.

So currently an ICO is expected to be the riskiest project possible

The majority of current ICOs are run without

  1. having either financial track records,
  2. or business case track records,
  3. and expected to be developed and operated in the youngest possible technological framework (aka blockchain).

How would a safe ICO look like?

What if a small business decides to raise funds for its business development by tokenisation?

What if instead of begging a bank for a loan the business would offer tokens related to its service or product to raise the necessary funds? (with specific loyalty point-like, bond-like or share-like conditions)

And what if the business would offer this token to its already existent organic community: its customers, suppliers and its business network?

This way the token holders would invest into a token

  1. knowing the historical track record of the business,
  2. being aware of the quality of service or product
  3. and having personal experience about the skillset of the management.

Feasibility

The free technology for such an ICO project is all available: easy ways to create tokens, available mobile wallets to pay or collect payments, community communication management tools etc.

The only thing that is missing so far is the awareness of ‘coffee shop owners’ who already have their own communities but don’t know how to turn them into a crowdfunding ICO community.

…read full article here.

mikloskadar.com

The only thing that is missing so far is the awareness of ‘coffee shop owners’ who already have their own communities but don’t know how to turn them into a crowdfunding ICO community.