The Startup
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Blockchain Companies: Where is the value?

Blockchain technology is considered to be the fourth industrial revolution and the next big disruptor, which genuinely can create a significant positive impact on millions of lives. While still in its infancy, this technology can reduce paperwork, streamline the process and improve the quality of life. Irrespective of all these goodness and positivity, here is a dark side to crypto as well which fewer people are aware of.

Being in crypto space, you would have heard about projects like Ripple, Machine Xchange Coin (MXC), ICON, Aelf etc. If you take a deeper look, projects like Ripple, MXC etc are adding a lot of positive value to the society, helping people to have a better and meaning full life.

On the other hand, we have projects like Centra, Pincoin and Arisebank which had scammed thousands of investors with 100’s of million USD breaking trust as well as creating a negative viewpoint of crypto as a whole.

As per a study, during the ICO boom market, Its been reported that 80 Percent of ICO’s Conducted were Scams. For eg, Pincoin scammed its customers in tune of 660 Million USD, whereas Arisebank ran away with 600 Million USD. These are the big fish. There are 100’s of smaller ICO’s or Projects that duped the customers from their hard-earned money.

Coming to 2018, as per data from DeadCoins and Coinopsy, approximately 1000+ cryptocurrency-related projects failed in 2018 and are now dead. It’s to be noted that most of these dead project was once considered to be the next big thing which was delivering good gains as well as was shilled by so-called crypto influencers.

All these dead coins followed a similar pattern before it vanished or died off. Majority of these had a successful ICO but have failed to deliver a product or any project development updates regarding their ongoing progress. Most of these Coin price was heavily manipulated via a pump-and-dump scheme. A lot of gullible investors rushed to these pumps thinking to make easy money and after a point, the price crashed, leaving them penniless.

There were other clear Red Flags of all these above dead projects which included Over-ambitious roadmap, promising Unrealistic returns, Anonymous team etc.

These are the stories of dead or scam project. But some existing projects try to artificially inflate the price of the token to give a false sense of hope to the traders who just asses the token from a trading viewpoint only. Some of the tricks include

  • Wash Trading — buying and selling with one’s funds to show there is more market demand
  • Pump and Dumps — artificially purchasing an excessive amount of a coin in a small exchange which pushes the price and later dumps to unsuspecting traders
  • Shilling — Artificially generating false hype and excitement for a coin, generally for personal gain for a payment
  • Coin burn: reducing the circulation to inflate the price.

Reading all the above, one may think and get confused about how to select a good project that can help to create a positive impact in society as well as to help to create value for your investments. Let me elaborate you with an example.

MXC

Machine Xchange Coin (MXC) is driven by MXProtocol, which is designed to enable payments between various devices. MXC automates machine to machine (M2M) transactions, decentralising big data and enabling a device data economy. The main purpose of MXC is to drive mass adoption among data owners, data receivers and data network hosts which will drive towards the coin being used in day-to-day transactions.

When I select a project to invest, I base it on three parameters

Adaptation

The quality of a project can be defined by seeing the entities it gets tied up with. MXC was all over the news for the partnership with WithSystem, one of South Korea’s most respected energy facilitators, to reduce electricity consumption throughout South Korea by building a first-time electricity monitoring and consumer alert platform incorporating LPWAN, the Machine Xchange Coin (MXC) and the MXProtocol. MXC has also been in the news for the tie-up with governments in the United States to South Korea and China. This speaks volumes of the trust various government has with MXC.

The Investors

The quality of a project can be defined by the people working with it as well as the individuals/entities supporting it. Let’s look into some of the major supporters of the project. MXC is backed by likes of Vchan foundation, Fenbushi Capital, Node Capital, BlockAsset Venture, Longhash, QuarkChain etc.

The Team.

MXC has got one of the best talents in the industry to work with.MXC is lead by Aaron Wagener and Xin Sheen Hu, MXC boasts one of the best and well-balanced team in the industry. Also, MXC telegram group is considered to be one of the least toxic in the cryosphere.

Conclusion

With any cryptocurrency investment, it’s your money and it's your responsibility. Just remember to stay smart and try to invest in projects like MXC which are impacting positively to millions of life which are also winning the trust of various government agencies as well.

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