Navigating the minefield of Token Offerings — Part 1
19 Apr 2019
.
tech
.
Comments
#security
#privacy
#blocktopus
Token offerings have enabled companies to crowdfund their operations by issuing freshly minted tokens to users that are willing to trade them for profit or to get a cheap early access ticket to the upcoming services of the token issuer. This process despite its benefits, has also suffered from a series of incidents that have damaged the trust between the token issuers and the potential buyers.
According to a 2018 study from Satis Group, approximately a 81% of the Token Offerings had been identified as Scams. ~6% of them Failed, ~5% had Gone Dead and ~8% of them ended up being traded on a exchange. Adding up the numbers, in 92% of the cases the users lost their funds, since they didn’t manage to trade the tokens on a exchange or to get the token issuer’s service in a discount.
Continue reading here
A creative thinker who is not afraid to challenge the norm. His diverse track record includes failed startups, approved patents and scientific publications in top conferences and journals. On a mission to protect what matters most to you.