Initial coin offerings (ICO) rapidly gaining momentum in the new digital world of finance. The secret of this hype lies beyond complicated cryptographic solutions that are generally called a blockchain. One of those secrets are about to be solved by TokenDesk.
Make things great again
While it might sound very sophisticated and complex, the current ICO market is somewhat unregulated. It does not make easy for investors to trust given processes and fully grasp the underlying risks. Mainly this is why cryptocurrencies are currently considered as particularly speculative financial product while the market itself might be fuelled by rather short-term interest. Even though, by the end of 2017 all currently known ICOs will raise over $18 billion in total. The amount will exceed all raised capital in 2016 by more than tenfold from 64 major ICOs.
Recently yet another story about a shutdown currency appeared on the news. This time coming from Switzerland, a country considered to be one of the leaders in blockchain technology development. E-coin was made to seem as an ordinary example of a cryptocurrency. However, being a fraud it resulted in over $4.2 million losses.
The new player
To solve this uncertainty market leaders should initiate developing certain practices to ensure that most of the participants gets the most of highlighted benefits of decentralization. Having in mind that current total market capitalisation of all existing cryptocurrencies is over $123 billion, shouldn’t make you wonder whether a Bitcoin it is a real thing or not. It and all other currencies seem to increase in value every day regardless occasional sharp corrections.
One of such initiative is came to our attention from Lithuania. A former member of the Parliament of Lithuania, Gintaras Tamosiunas, a CEO of Token Desk told us about the platform he develops with his team:
The hype of new blockchain based technology gathered many people to step in this ever-changing market. We’ve seen a few success stories, that inspired investors to put large chunks of capital in this risky environment to skim the cream. Unsurprisingly, this resulted in a couple of notable scams which is the greatest malady of current market. What should change? We need to establish unified standards for ICOs, make ways to get background checks on the publishers. All this must be added to one certain standard or a platform where all the necessary requirements of initial coin offering financial security would be met.
Not good enough
Currently there are a couple of coin publishing platforms that attempt to set the golden standard of ICO. One of such is Token Lot which allows to directly buy tokens during the initial coin offering. ICOBazaar is another example which offers somewhat similar functions with a on option of storing all different tokens in one integrated digital wallet. However, the market still awaits the solution which will be the first to offer the most convenient way to publish, buy, hold and sell the tokens. One of the latest success stories – Luno, a Bitcoin wallet raised $9 million this week. Another great example of the high hopes of market participants.
Even though, the blockchain based financial market is on the sharp uptrend, competition here is mostly focused on products rather than the secure long-term infrastructure development. Little by little the situation will be shifting and we will see the new standards developing in a couple of upcoming years. Keeping in mind that the market itself is extremely dynamic, these implementations will most likely to get swift adaptation.
Red hot ICO
TokenDesk has attracted over 6000 investors from 143 countries in its token pre-sale reservation campaign. It is still available although the initial stack of tokens most probably will be sold out before the end of heavy discount period.
The launch of the pre-sale is planned on 4th of October which is great new for everybody who still wants to jump on the fast moving train. TokenDesk platform will certainly set a new benchmark of the ICO market.