ICO (initial coin offering), is the heart of a blockchain related startup, which is the key for creating the innovative startup. Unfortunately, not all whitepaper put the complete financial information like the balance sheets. Whitepaper outlined the vision and analyze the code uploaded on Gifthub and judge if the project will able to have big impact on society or not.
Global standard for ICO platform
There are several parameter as the standard for ICO platforms. First is propel ICOs, which will protect the ICO investors and reinvigorate ICOs themselves by increasing the transparency of the management of fund raised through ICOs, project founders and the project itself. However, some countries have prohibited the ICOs in order to protect investors. Hence with the appropriate regulations, investors can be safeguarded.
Second is reducing the barriers for ICO participation and have the accessibility by making the investment process and the format of information disclosure uniform across the board, the ICO market is expected to be led by twenty or thirty something literate in blockchain technology. Thus, there is a need to expand the range of investors (the middle aged or older investors with the basic knowledge of blockchain technology.
Third is improve the project durability, by allowing project founders to withdraw procured funds only within their capital raising timeline. An ICO project which is fail to release the product or slow on marketing and development might be caught the problem like the technology barriers, holes in organizational management and or incompetence of the organization or lack of experts invariably.
Current problems to solve
There are several problems, based from the ICO investors perspective. First is when the ICO project is canceled or frozen, the funds are not returned. Second is the difficulty to identify the scam on ICO projects. Third, there is the falsified on the passport photographed on KYC.
Fourth, there are different whitepaper formats which make it difficult on comparing the ICO projects. Fifth, the whitepapers can be tampered with. Sixth, the ICO investment has high barrier to enter. Last, it is dificult to draft and vote for DAICO refund.
ICOVO is the next generation on global standard for ICO platforms, which is aluable for both innovative blockchain related startup and ICO investors. ICOVO framework will central governments around the world currently seeking yo develop healthy ICO environments through centralized methods.
DAICO is a model which use the decentralized methods to prevent planners from dishonestly using funds raised through an ICO. In an ICO which use tokens that conform the ERC20 standard, smart contracts are used to limit the amount of funds raised that the project founders are able to withdraw per unit of time. When the project is canceled, the remaining funds can be returned to the ICO investors, if a consensus is reached.
ICOVO app is a wallet optimized for ICOs app which is available for both iOS and android based smartphone. It is included the world’s first local wallet that can easily manage the ICO list information and all ERC20/ERC223 compliant tokens. The ICOVO app is compatible with DAICOVO and comes with functions to easily draft and conduct voting on fund management.
The ICO investors who use the OVO to purchase tokens for projects will get 25% discount compared to using ETH, since OVO is an exchange listed token and it’s price is fluctuated against ETH. In addition, the amount will be raised to 30% when the planners is paid in OVO, while the remaining 70% is paid in ETH.
In the first quarter of 201, the ICOVO project was started and design the platform to implement DAICO. Also, there was DAICOVO, which is easy to cutomized the smart contract. In this period also prepare the ICO. On the second quarter 2018, the white list registration, KYC/AML and crowd sale was started along with the release of ICOVO app version 1.0.0 on 22 June 2018.
On the third quarter of 2018, the crowd sale is started and OVO token will be listed on exchange. The ICOVO news media will be opened and there will be release of DAICO version 1.1.0 with the implementation of whitepaper. The ICOVO web also launched on this period. On the fourth quarter of 2018, the ICOVO web, ICOVO app and DAICO will be developed with more feature and implementations.
BTT Username: Ferde
BTT Profil Link: https://bitcointalk.org/index.php?action=profile;u=2330407