Yesterday I was speaking in Geneva, Switzerland on what I believe personally is an important topic of self-regulating the ICO market. I want to share my beliefs with you as many of them are based on what we do at Debitum Network to ensure safe, transparent and successful project.
There is a little a teaser at the end of this post – so make sure you read it!
It hurts to see that there are projects out there that are not honest and trick people into losing money. Hence, I believe projects should self-regulate to ensure better security and transparency. As we do having a smart contract address to send a contribution to & having a video next to it confirming the address. You might have wondered “why the video is needed?” – so that evil people could not hack our site or create a copy with a fake address easily.
While formal regulations might take a while to be developed, Debitum Network strongly encourages a concept of self-regulated ICOs, and we embrace that concept. Remember (if you’re an early supporter) that we decreased our initial hardcap, split the project into several stages and are raising funds for the initial stage to take off. This we believe will improve trust in the project will let you see meaningful results faster, plus it ensures a better future value for “holding” your DEB tokens as you know that you got them during the first stage, while there is more growth to come in the long-run.
I personally believe that our blockchain industry should introduce and sign-off to follow “Manifesto for ICOs”, similar as IT industry did with Agile Manifesto more than 15 years ago. In that way conferences, exhibitions, reviewers, institutional investors, media, and others could be able to filter trustworthy projects from shady ones and only build the community around the first ones. As lack of transparency harms both sides: a) contributors have a risk of losing their funds by choosing a scam project, while b) founders of solid blockchain projects like Debitum Network may struggle to build trust and receive support.
Debitum Network will always maintain high ethical standards and will make decisions considering their consequences for DEB token holders and crypto community. To ensure that each of our supporters can trust in our vision and road to achieve it!
As promised, the teaser! We are working hard on analyzing needed functionality for Debitum Network, and we have UX/UI team working on initial designs. We have a work in progress already that I want to share with you – any feedback appreciated: