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What are your thoughts about ICO setup companies?

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lostman

Active Member
I was wondering what your thoughts are about ICO setup Companies, means, Companies / Agency services that help people to establish a ICO to get investors?

I have found the below list and consider it to be nonsense and even a scam?

ICOBOX - Launch your ICO in 2 weeks
WORLD'S LEADING COMMUNITY MANAGEMENT AND ENGAGEMENT FIRM
Blockchain Marketing Agency | ICO Launch Marketing | Digital Agency
ICO marketing Crynet
ICO Marketing
Home - 7MARKETZ Digital Marketing Agency
MLG Blockchain - Expert Blockchain and ICO Consulting and Development | Home
Home
Zerion
https://www.moderntoken.com/

For people new to all of this or people interesting in getting extra Capital for their business it may be a complicated and expensive process to start their own ICO - the above Companies seems to be a sort of short cut to get it all setup. However, I wonder if that really is the case.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Look at their past successes to see if its worth using them.

You can also speak to You are being redirected...
I can imagine in Switzerland there is a lot of dirty money...sorry I mean large investors willing to invest in your ICO ;-)

Their past successes are clear:

Melonport – $3 million
Matchpool – $5.7 million
TokenCard – $13 million
aeternity – $70 million
Mysterium – $14.3 million
Bancor – $153 million
Status – $100 million
OmiseGO – $25 million
Tezos – $206 million
Decentraland – $25 million
Moeda – $20 million
Streamr – $30.21 million
SingularityNET – $36 million
Zilliqa – $22 million
Jibrel Network – $30 million
AidCoin – $15 million
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
99.9% of ICO's are scams.....you didn't know? Even EOS is a scam.

Anyone with a website, registered company, some nice faces on a web page and whitepaper can raise millions via an ICO...and have done. These are all companies with an idea and nothing behind them. Why else would someone do an ICO?
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Nothing honest in crypto world other than the blockchain technology itself :-(
 

espresso

New member
Nothing honest in crypto world other than the blockchain technology itself :-(
replying to an old thread, but anyway

generally I would agree with this, but in my honest opinion, if anyone manages to create a one truly untrackable private coin with an unbreakable algorithm, then this would make sense for me

also, regarding the "crypto world" part, company formation based on the blockchain system sounds cool, if the transactions and fees for management are cheap enough and it´s done in a safe jurisdiction
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
also, regarding the "crypto world" part, company formation based on the blockchain system sounds cool, if the transactions and fees for management are cheap enough and it´s done in a safe jurisdiction

How would this help over existing formation methods?
 

jakonda

Active Member
I would love to launch an ICO project but I am afraid investors would try to find me and my "team"...
Avoid The Office GIF
 

espresso

New member
How would this help over existing formation methods?

for example, documents are being signed and verified faster since no paper is involved, which could save quite some costs in the end

I guess you cannot escape governmental fees if they are too high, but you can avoid agents who waste your time even though you just need one document generated and signed etc.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
for example, documents are being signed and verified faster since no paper is involved, which could save quite some costs in the end

Sorry how does blockchain play a part in that process making it faster over existing formation methods? I am just curious as maybe you are on to something.
 
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espresso

New member
Sorry how does blockchain play a part in that process making it faster over existing formation methods? I am just curious as maybe you are on to something.

disclaimer first, I´m not an expert on this

but from what I understood is that when the government implements the blockchain, then you and the government can use something like pre-defined document templates, according to which you can generate documents that the Govt system initially recognizes - and if you sign it, and the Govt side recognizes the template + your signature, then it can be verified virtually immediatelly instead of waiting for your agent for 2 weeks to solve simple paperwork

but what I´m talking about here is more like company governance after it´s being formed, but the formation process requires some paperwork as well so it would apply to that part too
 
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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
but from what I understood is that when the government implements the blockchain, then you and the government can use something like pre-defined document templates, according to which you can generate documents that the Govt system initially recognizes - and if you sign it, and the Govt side recognizes the template + your signature, then it can be verified virtually immediatelly instead of waiting for your agent for 2 weeks to solve simple paperwork

Ok but you not explained how blockchain technology provides a benefit.

but what I´m talking about here is more like company governance after it´s being formed, but the formation process requires some paperwork as well so it would apply to that part too

One can just implement a more efficient digital company register like how Estonia has done so with digital signing of docs. Check out how they have done it.
 

maxmmm

Entrepreneur
disclaimer first, I´m not an expert on this

but from what I understood is that when the government implements the blockchain, then you and the government can use something like pre-defined document templates, according to which you can generate documents that the Govt system initially recognizes - and if you sign it, and the Govt side recognizes the template + your signature, then it can be verified virtually immediatelly instead of waiting for your agent for 2 weeks to solve simple paperwork

but what I´m talking about here is more like company governance after it´s being formed, but the formation process requires some paperwork as well so it would apply to that part too
Blockchain is a solution looking for a problem.

None of this stuff requires blockchain and none of this stuff should be PUBLIC which most blockchains are. I don't want anybody looking into my bank account, seeing who I pay or seeing what documents I digitally sign. Nor what "art" I buy.
99% of these applications are just pretending to need blockchain, in order to pump a useless coin and steal money from newbies.
 
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