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ICO and IBO or how one letter can change the process

17/11/2018 17:25
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ICO and IBO or how one letter can change the process

Collective investment has appeared in late 1997, when fans have organized the collection of funds under the support of Marillion music band. Within next ten years the crowdfunding as a way of fund collection became extremely popular so now everyone can invest money in business, real estate, agriculture, public projects, scientific developments, loan banking systems etc. Generally the crowdfunding company is the option to tell Internet users about your idea, get their feedback, make pre-promotion of further product and try to attract investments.

But despite growing popularity and spreading of crowdfunding internet platforms the traditional crowdfunding has encountered a range of problems such as increased level of legal and legislation risks due to limitations of legal base; sharp competitorship between similar theme projects; low level of trust due to frequent fraud cases. Emerged problems and investment forms evolution became the basis for the formation of more managed technology of crowdfunding titled as ICO.

ICO (Initial Coin Offering) stands for the campaign on the collection of funds for the implementation of some project by means of creation and sales of cryptocurrency. In general ICO offers investors to buy cryptocurrency for the financing of project and getting either speculative profit or some privileges after project launching.

Mastercoin has become first ICO project, which has attracted around 500 thousand dollars at the end. The next stage of ICO further development was the creation of Ethereum platform made by Vitalik Buterin, who has created cryptocurrency White Paper and presented in to public. The final return of Ethereum made 3900% on the ICO completion.

The year 2017 has become the golden age of ICO. This fact is mainly related that ICO had higher percentage of quality projects and small amount of thieves wishing to earn easy money by means of fraud ICO projects. The growth of ICO projects amount has arisen new issues like the absence of laws, regulating ICO activity and allowing tokens safe purchase; the absence of the mechanisms providing projects with the assets and safe conducting conditions; absence of external control mechanisms regulating ICO coming projects stages performance etc. All this has significantly decreased ICO projects popularity by thus creating sharp necessity of this market segment regulation.

At the beginning of this year Bitcoin.com website has conducted ICO market researches and came to the following conclusions that 50% of projects which has been initiated in 2017 had been either failed or are about to fail:

  • 142 projects had been stopped during money collection
  • 276 projects has turned out to be fraudulent ones
  • 113 projects stopped updating information, meaning its further implementation.

Internet is full of the recommendations on how to define fraudulent ICOs. But is reality there is no efficient measures allowing the initial detection of such ICO. The necessity of legislation regulation and the solution of ICO existing problems became the stimulus for the appearance of the projects warranting investor the return getting and protection from fraudulent actions.

Bitbon system and new investment type IBO (initial business offering)

Bitbon system is one of such projects,which stands for the platform for the investment and management of assets with more expanded options providing both data storage security and transparent interaction warranting additional return. All innovational technologies implemented into Bitbon system had been patented in many countries, by thus warranting their uniqueness.

Bitbon — is a new financial instrument used as payment unit in Bitbon system. Bitbon specific trait has all characteristics of digital asset and value confirmed by real assets.

Bitbon system offers new investment type titled as IBO (Initial Business Offering) the aim of which is the implementation of business project, where contractat (initiator), Bitup agency (monitoring, guidance and assistance) and contributor (investor) participate.

The IBO specific trait lies at the fact that each participant has the possibility of monitoring all the stages of project implementation via constantly updated Contractat section. This section has the indicator of project progress in accordance its development stage from the moment its preparation till the moment of project commercial launch.

After launching Business plan, White Paper, Projectbon public contract, Abstract and One Pager (presentational form of project main information provision at mobile devices) to Contactat section, the IBO certificate is generated. This certificate contains full constantly updated information. It is available for all Bitbon system participants and presented in chrono dynamical format of information provision.

All the aforementioned information makes clear that ICO efficiency and reliability verification requires additional instruments and resources but does not exclude risks, while IBO project is launched only after thorough preparation and verification.

Summing up it is worth mentioning that IBO main difference from ICO is at the fact that the process takes place in frames of currently acting legislation by thus providing legal protection and specific warranties. Correctly formulated provisions the options of IBO in Bitbon system are unlimited it makes possible both making investments and rather complex actions related to property rights. Generally the IBO makes only the part of large scale contributing process but exactly IBO prompts the formation for prospect investors of real warranties for project complete implementation and return getting.

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