An entrepreneur with a determination lacks two things in a competitive economy. First, An idea and second funds to kick-start that idea. Assuming you have an idea for a product or service but still, you will lack funds.
At that time, an entrepreneur opts for private equity, venture capitals or any other form of funds, where your ownership and decision making is at risk on your own idea. Again assuming what if you don’t have an idea nor funds, just left with pure determination.
Looking for the idea has always been easy since revolution known as the internet has come to life. One of that advanced version of technology or say “The new internet” is Blockchain technology. Blockchain development has risen to popularity since its invention in 2008.
And earnings from this development is named Bitcoin which is the gold of cryptocurrencies. In a few years only, the value of Bitcoin has skyrocketed and due to the low level of supply and high demand, its price is increasing to this moment.
But many other cryptocurrencies have been generated after its popularity, like Ethereum, litecoin and many. And these currencies are being used to raise fund by technopreneurs. This development is known as ICO (Initial Coin Offering) development.
The ICO development is being used to raise funds by many start-ups. An ICO token can be easily traded in all types of cryptocurrencies provided the current demand. An ICO development’s biggest advantage that an entrepreneur does not have to give up their ownership to fund it.
ICO DEVELOPMENT FOR ENTREPRENEURS
An ICO development is a technopreneur offering some of its self-generated new type of cryptocurrencies as a crypto – token to an investor in exchange for popular cryptocurrencies such as bitcoin or ethereum.
The only requirement for an ICO development to be successful is the offered cryptocurrency should have demand in the market. Enabling it to trade easily by the purchaser and increasing the value of that same cryptocurrency.
The ownership on the generation of that new cryptocurrency still will be with the owner of that idea only. Hence, raising more profit from the generation of the same new type of cryptocurrencies will be of the owner too.
Here, due to future profits through ICO token, is likely to replace the existing securities and shares of the financial world and changing the entire scenario of the economy.
Many are considering ICO development a failure for the future without realizing the proposed requirements for this technology to be successful. Some of the requirements are making of white papers, a website which represents your future cryptocurrencies & start-up which attracts investors, community building, ICO marketing, and smart contracts.
Smart contract developers are a rare breed as most work on their own ICO development. Of course, you can hire or consult with one when in need. Another benefit of ICO development is decentralization.
Some of the authorities are trying to regulate the ICO development like other securities and shares but it will take time as its extremely easy and is paperless, making it hard to keep track.
HISTORY THROUGH ETHEREUM
One of the most successful ICO development was of Ethereum. The prominent execution of ETH cryptocurrencies held at 0.0005 Bitcoin per ETH. Raising $20 million through crowdfunding which is highest till date.
The rising trend of crowdfunding through ICO development indicates that it is likely to stay in the financial market. Various companies in different sectors such as financial, healthcare and many others are raising funds through ICO development.
Future potential is great but it also comes with its shortcomings in time of execution of an ICO. This newly introduced financial asset being unregulated comes with the risk of being hacked if security measures are not taken which happened in the case of DAO.
Also, like shares, if the performance of cryptocurrency is lessened due to inactivity, the ICO token results in a huge amount of loss. But with the right consultants for ICO development, that loss can turn into the huge amount of profits as well. Another point to keep in consideration is being aware of scammers with promising websites and all but fails to deliver any type of outcomes. Always trust a consultant or ICO developer with experience in, blockchain consultancy.
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