Initial Coin Offerings (ICO) Reviews and Analysis

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Sunday, 9 September 2018

Icovo, a DAICO-implementing ICO Platform

If there is no ICO, there will be no blockchain-related startups. While ICO is very crucial to the development of blockchain-related startups, ICO has many problems that prevent them from growing properly. These problems happen to project founders and investors. There is an urgent need for a secure platform that provides healthy environments for ICO to grow, something that Icovo is attempting to do.

What Is Icovo?

The lack of platforms that provide healthy environments for ICOs cause various problems for investors and project founders. Icovo is a platform that aims to create healthy environments in which project founders can get their funding to launch their projects and investors can invest in the ICOs they want and potentially gain benefits from them.

ICO Transparency and Risk

One of the aims of Icovo is to increase the transparency of ICO and protect investors. To this aim, the platform uses decentralized token management, decentralized versioning of whitepaper, providing KYC/AML of project founders, and visualize activity situation. By doing these, the transparency of ICOs can be increased and investors can be protected from unnecessary risks.  

ICO Participation Barrier

Although ICOs are crucial to the development of blockchain-based startups and they can provide potential benefits for investors, the participation of ICO is still low as, unfortunately, not everyone can participate in ICO. To reduce barriers that cause such low participation, the platform will implement local wallet, unify formats, and reduce labor for KYC.

Projects Durability

Some projects have short durability, which results in investors losing their money. While ICOs do have risks just like any other investments, the durability of projects can be increased and unnecessary risks can be reduced. The platform solves this by implementing DAICOVO, which allows funds to be withdrawn according to a pre-loaded schedule, thus motivating the team to finish the project.

Problems of ICO from Investors’ Perspective

As a platform that aims to create healthy environments for ICOs, Icovo realizes that there are many problems of ICO from investors’ perspective. There are several problems and the platform has the answer for each. By addressing these problems, ICO will be able to give assurance to potential investors who want to participate in ICOs.

The first and foremost problem is the problem of refund. There are many ICO projects that are frozen or canceled. When investors invest their money in these projects, there is no refund. Due to this, investing in ICO is seen as something that is very risky for investors. Since the platform will utilize DAICOVO, a refund is possible and investors may claim their money back in case the project is canceled or frozen.

The second problem is scam ICO projects. There are lots of ICO projects. However, not all is real. Some of them are scam ICO projects. If an investor doesn’t know whether an ICO project is a scam or not, they are at risk of losing their money. To solve this, the platform includes not only KYC/AML but also the progress of the project. With these disclosures, investors will have a guide to help them judge ICOs.

The third problem is whitepapers tampering. Whitepapers are used by investors to see if an ICO project is worth investing in as whitepapers contain crucial information regarding the project. The problem is that they can be tampered with. To prevent whitepapers tampering, the platform utilizes IPFS and blockchain and thus rendering tampering impossible.

Problems of ICO from Project Founders’ Perspective

There are also problems of ICO for project founders. Just as the problems for investors, the platform will solve them. The most important problem that needs to be solved is the trust issue. There is no ICO that can be successful if investors don’t trust it. To solve this problem, the platform implements KYC/AML, DAICOVO, and the progress of the project. These show that the project is sincere and above board.

The second problem is funding. There are cases where project planners don’t have the fund to launch ICO. To address this, Icovo has an initial charge of USD 10,000. Whether or not there will be additional fee depends on the success or failure of the ICO. If the ICO succeeds, there will be a success fee. If the ICO fails, there will be no additional fees other than the initial charge.

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ETH : 0x73dDCA9F4d7829994Ef2014F3A8CddCa60783Be9

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