Platform to Weed Out Scam ICOs and Help Inventors Thrive
A new platform is being launched to connect the dots in cryptocurrency and Blockchain– uniting investors, inventors, consumers and offline businesses in one place.
Despite Blockchain enjoying massive growth in popularity, Vestarin believes a lack of confidence is blighting the industry.
The company launched a demo version in January and wants to establish a community that millions of people will begin to use in the coming years. In its white paper, Vestarin bills itself as “a must-have for everyone who has made at least one step into the world of cryptocurrency and Blockchain technology.”
To support its lofty ambitions, the platform is tackling what it claims is a bias towards the English-speaking world, an issue which makes it difficult for people who speak other languages to make informed decisions about investments and purchases. In what it is also promoted as a boon for travelers, Vestarin is going to be available in 15 languages including Chinese, Hindi, Arabic, French and Spanish as well as English.
Navigating the choppy waters of ICOs
Vestarin argues that investors in initial coin offerings (ICOs) are currently encountering too many scam projects, where seemingly reputable start-ups with edgy websites and compelling white papers lack substance. The company says it fears such abuse of trust “can turn this great instrument into a soap bubble.”
Because of this, the platform wants experts to moderate ICOs and weed out what it describes as “garbage.” Vestarin says this when combined with data and reviews from seasoned analysts – will see risks for investors “significantly decrease.”
In addition to stopping fake ICOs in their tracks, the company believes its community, which already has 5,000 contributors, could help inventors with big and difficult-to-conceptualize ideas bring their vision to market.
Vestarin says many budding entrepreneurs never get their start-ups off the ground because they struggle to attract investment and lack an experienced team to support them. As well as vetting ICOs, the platform plans to offer a search functionality that will connect inventors with the industry specialists they need and provide a secure place for chatting and forming strong teams.
Building new bridges for consumers
Executives at Vestarin also believe there are ways to better serve consumers who use cryptocurrency, as well as the brick-and-mortar shops, hotels, cafes and restaurants who are missing out on their custom because they only have the infrastructure to accept fiat payments.
The company argues it is difficult to easily find businesses that accept cryptocurrency and says this is surprising given the industry has a capitalization of hundreds of billions of dollars. Vestarin’s domestic currency, VST tokens, will become the gateway for purchasing goods and services, with the goal of making it as easy as spending dollars in a wallet. Geosearch functionality will be integrated into Vestarin so users can find local businesses who have also signed up to the platform.
To encourage and speed up adoption, the company is planning to launch a cryptocurrency exchange “where everyone can get or sell their desired currency in a couple of clicks.”
“A must-have for crypto enthusiasts”
Vestarin’s ICO is taking place from March 5 to April 4.
Upon its conclusion, the company is planning a significant marketing drive and it hopes to have more than 500 shops and service providers on its platform come November 2018. Vestarin is forecasting growth at breakneck speed, with predictions of 200,000 users come January 2019, and one mln users by May 2019. It also expects to grow from 2,000 shops and services to 8,000 over the same five-month period.
By June 2019, the company’s goal is simple: to become a “must-have app for all crypto enthusiasts.”