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Bitcoins, Blockchain, Cryptocurrencies!
Feeling nervous? Well if you listen to the majority of the people on the internet then you ought to be. Remember what majority of the people said about the internet? Yes. THE Internet. They were afraid that ‘these things’ would result in the breaches of many regulations and people would lose countless jobs due to it. Guess how you are reading this! Although we do admit that some regulations are redefined for the internet. Anything new that is not understood easily does seem scary in the beginning. But running away from it isn’t the right direction. One needs to understand it in order to remove the fear. So let’s find out more about ICO.
What is ICO?
ICO is Initial Coin Offering. In simpler words, suppose you had an idea to streamline the payment in your company which provides fruits to people in order to make it digital and encrypted. Now, you need people to give you money so you can make currency out of it-let’s call it Fruit Coins. You could go to the bank or the investors but what if you did it without giving any of your ownership of your company? That’s where ICO comes in. ICOs are just a natural extension of the models of cryptocurrencies and crowdfunding. Through ICOs, blockchain startups share a piece of their new cryptocurrencies or crypto-tokens (in this case Fruit Coins) to new concept supporters in change for their investment. These stocks accumulated through the ICO act like crowd-funded seed capital for the start-ups to develop, market and promote their proof-of-concept (POC) and/or product.
Codezeros has been studying the technology of blockchain for a while and have the following insights about ICOs. ICOs are relatively quick and are able to cater to everyone from all around the world. The only limit here would be the strength of your market. ICOs generally do not require you to give up any equity and apart from funding but instead the people who buy your token automatically become the customer of your services or products. The trick is to break down the jargon so people understand what you stand for. Actively answering questions about your idea will let people know that you are serious and you really care about the investors.
When something unique is created or introduced, it has its own difficulties and shortcomings. This is natural for any new business that ultimately undergoes many repetitions for its improvement. To maximise the chance of a successful launch, here is a tip from business leader whose company is at the cutting edge of cryptocurrency innovation. Arshad Hisham, CEO of Magnus says, “Think through your play from the beginning to the end before you send the first tweet or blog post out. There are enough completed ICOs now that you can use as case studies so you’ll be able to factor every contingency into your plan.”
In the end, we would like to conclude that ICOs are an excellent way of generating initial seed capital for a startup or a business anywhere in the world. There are no two opinions about the fact that ICOs will become more mature and secure with the implementations of proper regulations and the underlying technology behind ICO, the blockchain technology, is here to stay.
We hope you found this article interesting and informative. If you still have any queries, you can contact us or directly send a mail to hello@codezeros.com for further inquiries regarding ICO development and share your ideas with us. Let’s get together and create a better future together.
