ICOVO - Platform for ICO Management

bumidinasty (6)in #bitcoin • 6 years ago

The Initial Coin Offering (ICO) is a fund-raising mechanism by startup companies that use blockchain technology. When the ICO, investors buy tokens or crypto coins that can later be used in the startup platform, or traded on the exchange. In 2018 more and more startups are conducting ICOs which are estimated to raise at least $ 6.198 billion according to icowatchlist.com. In response, ICOVO plans to launch a platform to facilitate investors and startups to manage ICOs.

Disclaimer: The author is neither a blockchain programmer nor an investment consultant. The author does not recommend nor is responsible for the profits or losses of investment in this ICO. This article is only limited to information, not financial advice.

Background

The ICO sector is growing very rapidly in 2017-2018. Unfortunately, this development is not supported by regulations or platforms that guarantee the funds collected are used properly. More and more cases of fraud and embezzlement cause anxiety for investors who want to participate. As a result, economic growth using the tokenomics concept is hampered.The author notes that there are various problems that arise as a result of this ICO, namely:

Information validity: Information such as whitepapers and teams are often invalid. There is a lot of plagiarism in whitepaper writing, as well as false identities from the startup company management team.
Information presentation: Presentation of non-standard information. Investors often have difficulty finding important information that is not presented properly.
Fundraising mechanism: Making smart contracts is often not audited, causing a security gap. Investors who do not know how to use ethereum wallets have difficulty investing.
Fund security: Funds are not placed on escrow so it is likely to be taken away by the startup management team.
Fund use mechanism: Funds are not provided in stages in accordance with milestones, as a result often management teams are not efficient in managing funds, which in turn runs out of funds.

What is ICOVO?

ICOVO comes from the words ICO and OVO (egg), which confirms that this platform is an incubator platform for startup companies. ICOVO uses the DAICO (Decentralized Autonomous Initial Coin Offering) concept suggested by Vitalik in January 2018. Further information about DAICO can be found at https://cointelegraph.com/explained/what-is-a-daico-explained. The point is that DAICO makes ICO safer because:

Voting mechanism;
Gradual disbursement of funds; and
Refund facility (project cancellation), also by voting.

The ICOVO platform consists of three main parts:

DAICOVO: smart contract that implements the DAICO model;
ICOVO Web: interface of the ICOVO program on the website;
ICOVO App: ICOVO program interface on Android and IOS applications

The ICOVO interface allows Investors to obtain valid information regarding whitepapers, teams, prospectuses, and make the investment process in ICO easier. The ICOVO platform uses the OVO token, the ethereum ERC20 token used by the ICOVO platform to vote and invest in ICOs.Investors can buy this token for 0.3 USD during the token sale.

Reasons for investing in ICOVO

MVP or Prototype

This project has a product prototype that you can download on Google Play and the App Store. Currently this application only functions as an Ethereum wallet, but various features will be added according to the project timeline.

Serious Team

This is the most important factor in assessing ICOVO as a serious project. The author looks at the members of the ICOVO team using genuine identities. This can be seen from the videos published on Youtube, as well as their social media. Moreover, the team is actively participating in the blockchain conference.

Valid Business Model

Currently the use of digital currency is still limited to speculation and investment tools. Therefore, a platform to facilitate ICO is a simple and very relevant business model. This project has no risk as high as projects that are too futuristic, for example artificial intelligence projects.

The DAICO concept from ICOVO will be able to revolutionize the ICO process

Conclusion

This project has very bright prospects because it can really solve the actual problems. This platform will enable the implementation of a safer, more accountable and decentralized ICO. However, of course everything depends on the timing, adoption and competence of the developer team to build a quality platform.After doing a simple research, this ICO taste writer is NOT a scam, because:

The ICOVO startup has been registered in Switzerland under the name ICOVO AG, Zug, Switzerland
There is a special youtube channel and videos from members of the ICOVO team. The channel is https://www.youtube.com/channel/UCAo9SoUVMIYJNg78pYm3enw .
Social media channels are well managed with the latest updates.
Have a good quality whitepaper.