Hello Steemians!!
The continuous announcement of Initial Coin Offerings, there is the need for people to understand what each project in order to make a sound investment decision. If we like it or not, ICO's are here to stay and will move from the launch pad for cryptocurrency projects to startup initial equity distribution campaigns etc making it a very crucial part of the entire spectrum of the global economy. Hence knowledge in various ICO opportunities and openings is essential for cryptocurrency enthusiasts and investors alike.
ICO Board is a full Steemit Blog which will provide it's readers with various engaging content in regards to ICOs. In our introduction we will introduce our readers to what ICO's are and what to expect on our blog.
.png)
What is an ICO?
Initial Coin Offering (ICO) is a fundraising method adopted by new cryptocurrency ventures to raise required funds for further development. It is also a convenient method that enables startups bypass the rigorous and highly regulated venture capitalists and banks.
The processes of an ICO
During an ICO, a whitepaper of the given project is usually presented to the public. This whitepaper will contain details of the project, the solution it intends to offer and a plan of the developmental process either in full or for at least its beginning stages. The amount to be raised during the given ICO and duration of the exercise is also made public, what type of money is accepted, how much of the tokens will be made available and how much will be kept by the original owners of the venture, e.t.c. Peradventure after the given timeframe of a given ICO, the funds raised falls below the intended target, such funds are returned to their original owners.
The tokens offered during an ICO are similar to the shares of a company in an Initial Public Offering (IPO). The difference between ICO and IPO is that in an ICO, the backers of the project only own tokens which will retain value based on the viability of the project and the demand of such tokens, while individuals who buy into an IPO of a given company actually become part owners of such companies and are therefore referred to as shareholders.
Making an investment decision
During an ICO, investors are expected to study the whitepaper of a given venture to determine whether the aims of such project suits their beliefs and expectations.
According to the “4ps” framework developed by Bessant and Tidd, any given innovation will fall into one of the following:
Product Innovation
This type of innovation involves changes, updates and improvements to products that are already offered to the consumer. This type remains the most commonly perceived type of innovation. For example, disintermediated transactions at a distance (service).
Process Innovation
Process innovation involves changing the way that the product or services are built or delivered to the customer. Basically, this scenario refers to new ways of accomplishing things. This can be seen in the distributed consensus ledger updated globally - decentralized clearing.
Position Innovation
Here, changes in the way and environment in which products and services are offered or communicated is the major concern. This type refers to new markets and opportunities. An example is the internet as a means of disintermediated financial communication between parties.
Paradigm Innovation
This refers to the business model employed and/or competitive advantages and the values/needs on top of which they are based. These ones differentiate a solution from the competition. For example, the creation of currency with no central issuer, decentralized and transparent operation.
Having considered the details of a given project, the onus will eventually lie in the hands of investors who decide whether the objectives of the project meets up to their expected standard. Also, a projection of the demand for such products or services in the future is usually considered, this becomes the primary determinant of the value of such tokens and the profitability of the investment.
What will ICO Board Offer its readers?
- Weekly ICO List Recap
- Review newly announced ICO's
- How to invest guides
- Guest articles by various Cryptocurrency writers on various ICO's and ICO's in general
*And more to come
Remember to follow us to get our latest articles. We are excited to join the Steemit ecosystem. What would you love to see us do? We will love to hear from you!!!
Welcome to Steemit of you! Glad to have you on Steemit. Continue doing good post.
I wish you the best! and hope to see you soon.
Hello @hien-tran, thanks for the warm welcome. We hope you enjoy our content :)
Welcome to Steem @ico-board I have upvoted and sent you a tip
Thank you
Welcome to Steemit, your What is ICO article is really awesome
welcome Ico-board ! Glad to see you, hope you enjoy here as much as i do ! Nice post, i will follow your account, please follow me at @mekong
Glad to meet you too :)
Hey @ico-board, thanks for the article and congratulations on your work! I've also been writing a bit about ICOs in my own blog. If you'd care to take a look, I've been trying to develop an ICO Valuation methodology. I've been through how not to get scammed and how to properly evaluate an ICO team. Also, I put some alerts out for a possible ICO Bubble, as have the CFA Institute.
To facilitate the way people keep up with ICOs I came up with the Ultimate ICO List and an ICO resources list.
Hopefully you'll find some of that useful.
Looking forward to your reading new posts of yours and hearing your thoughts on mine ! Cheers
Great to meet you @pedrombraz. Your resources on ICO's are great. Will love to collaborate with you in the future to produce some content.
I'll take you up on that all right ? looking forward to it. Cheers !
Welcome to Steemit!!
Welcome and Thank You for being with us!! Following your Blog now
I have my own website where I post all the latest ICO news also,
Come and see! http://www.cryptocoinstockexchange.com/
I will also be joining your board once it is up and running!
Welcome @ico-board to Steemit. Looking forward to more posts from you. Please follow me @hongphuong
Welcome to the community. your introduction was very nice. Followed. Follow me back 😘