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What is ICO? How to start New ICO? And how much does it cost?


ICO (Initial Coin Offerings) - Internet analogue of IPO: instead of shares of the company, tokens are issued - digital tokens. The release occurs on a specialized block-platform, for example Waves or Ethereum. Blocking is a chain of transactions built according to certain rules. Information in the chains can be rechecked, but can not be changed. Investors - platform users - buy tokens, paying for them with crypto currency - bitcoins or ethers, for example. Anyone can raise funds using ICO - the main thing is that the concept is liked by users. The value of the tokens is not guaranteed by anyone other than the company that issued them.

How to start ICO?

Step 1. Write White Paper - the main document of the project, which contains a description of the product and the smart contract (this is an algorithm that ensures the automatic execution of transactions), the strategy of costs, risk factors, etc. The cost of creating the document "Kryptonomos" is estimated at 10 bitcoins.

Step 2. Solve legal issues - in particular, think over how the received money will be taken into account in accounting, provide a scheme for exchanging crypto currency for money and choose a bank-intermediary. Legal audit can cost 5 bitcoins.

Step 3. Select the platform and launch the landing page that users come to. Independently or together with representatives of the platform to determine the realistic amount and timing of the campaign. Creating a landing page costs 5 bitcoins, technological audit - 5 more.

Step 4. Attract the target audience - buyers of tokens interested in the project and its products. Integrated marketing campaign will cost 20 bitcoins.

Step 5. Issue tokens and start ICO. In total, preparation for the ICO can do away with 50 bitcoins.

Above the law

The blockade market and crypto currency have their own dark side: the anonymity of transactions and the absence of regulators in the face of government bodies allow the use of crypto-exchanges for money laundering and financing of criminal structures.

So far, governments are only trying to fight it, and the effectiveness of their actions is difficult to assess. On July 25, Greece's special services detained a 38-year-old Russian citizen Alexander Vinnik, who is suspected of laundering $ 4 billion through the exchange of the BTC-E crypto currency. On July 31, representatives of the exchange told that FBI employees seized BTC-E equipment and blocked its domain. At the same time, representatives of BTC-E claimed that Alexander Vinnik had never been an employee of the exchange.

Alexander Ivanov, the founder of Waves, does not hide the fact that the absence of legislative regulation allows now the leaders of any funds raised at the company's ICO to hide, taking the money: "There are no legal risks, there are only reputational ones."

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