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Old 09-04-2018, 11:11 AM
John Tollerman John Tollerman is offline
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Join Date: Sep 2016
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Default Blokbiz ICO: Bringing Reliability and Transparency to the ICO Market

An ICO or Initial Coin Offering is an efficient fundraising mechanism that is used for crowdfunding by new ICO companies in the cryptocurrency industry. These projects raise ether or Bitcoin by selling their crypto tokens and used the raised cryptocurrency to finance their cryptocurrency project. This is equivalent to an IPO that offers investors the opportunity to become shareholders in a company by purchasing the company’s shares.

However, due to the increasing interest in the cryptocurrency industry, many ICOs have been launched in recent years. Some have proved very reliable and lived up to their promises while a couple of these ICOs have failed woefully, costing investors millions of dollars in loss. The truth is that only about 2% of all ICOs have some measure of success since the larger percentage of the ICOs is nothing but a smokescreen behind which cybercriminals hide to defraud unsuspecting victims.

Most of the failed ICOs are actually scam projects that are designed to defraud their investors. On the surface, they have all the signs of credibility written over them to veil their fraudulent activities.

Sadly, the fraudulent ICO companies have been successful and have defrauded thousands of cryptocurrency investors because there is no platform that can access them and overhaul their activities if they are found wanting. This is responsible for the number of investors that have fallen victim to their schemes in recent years. Ironically, these fraudulent ICO companies outnumber and overwhelm legit ICOs, making it extremely difficult for potential investors to identify genuine ICOs to invest in.

This raises the necessity for a platform that can checkmate the excesses of illegal ICO companies and verify the reliability of an ICO before investors part with their hard-earned money. This is where BlokBiz comes in.

BlokBiz is an ICO company within the blockchain community. However, it is not the regular ICO that raises fund for its project by offering tokens alone but is a distinct crowdfunding company with a mandate to regulate the ICO community and bring sanity to the operations of other ICOs within the community.

To achieve its primary goals, BlokBiz is a platform where other listed ICOs can be thoroughly appraised before they are either approved for operation or rejected if they don’t meet up with some basic eligibility requirements. The compliance and AML methods used for the eligibility test are globally approved and ensure that only the best ICOs are approved for operation.

Thus, if you want to take advantage of the ICO community to invest in an ICO, rest assured that BlokBiz will only give you a list of credible ICO companies only. This is an assurance that you will get real value for your money. What does it offer?

Let’s take a look at some of the features of this ICO that make it thick and a reliable source of information about ICOs.

1. Compliance Check

To ensure the credibility of each ICO in the blockchain industry, BlokBiz demands due diligent and official company documents from ICOs that are out for operation. The company also uses AML software, recognized globally for its super standard, to check the ICO companies as well.

The company’s compliance experts review some major things such as Cash Flow Projections, project’s goals, history of all the owners, and some other related information that will give them a complete overview of the ICO company.

Without the compliance check, the cryptocurrency market will be overrun by potential scammers who disguise as legit ICO companies as it is currently the norm.

2. Security of Investors

The security of investors in ICOs is taken seriously by this company. BlokBiz runs potential players in the industry through some compliance checking and ensures that they tick all the boxes before such ICO companies are given the green light for operation. Some of the documents that are demanded from these companies include:

• Organizational chart.
• Certificate of Incorporation.
• Cash Flow Projections.
• Proof of address.
• Names of shareholders.
• A copy of the director’s register.
• A copy of the shareholder’s register and more.

An ICO company that can’t produce the required documents is not fitting to operate as there may be a huge question mark on its credibility.

3. Helpful website

As a part of its efforts to sanitize the industry and make investors have values for their money, the company also uses its official website as another tool to make investment easier and error-free for investors and minimizes their vulnerability to fraud.

Their webpage contains an artificial intelligence that assists investors to realize the tokens or coins they must convert from their personal funds and make conversion into fiat currency possible. BlokBiz offers the best condition for this.

It also offers an algorithm that is saddled with the responsibility of monitoring and analyzing the cryptocurrency market every moment of the day. By studying and analyzing some samples that share similar patterns, the company can thus make some short-term forecasts that can be of great benefit for investors.

4. Anti-Spam Security

ICO companies are expected to deliver a roadmap and a cashflow plan as well. The compliance experts are saddled with the responsibility of reviewing the plan and approving the amount of Ethereum that the project needs. Depending on the project’s progress, BlokBiz will send the Ethereum in installments.

If the company fails to proceed with the project, doesn’t collect the stipulated Ethereum amount within the given deadline, or is suspected of fraud for any reason, the investors won’t be at the losing end. They will be given their Ethereum back without delay. However, if the company has collected the stipulated amount without any progress, that is the amount that it can ever have access to since all subsequent payments will be automatically cancelled. While this doesn’t guarantee the investors of recouping their initial investment, they are protected from making further payments and thus won’t lose all their investments to a scam.

By putting all these fraud-preventing measures in place, BlokBiz makes it nearly impossible for potential fraudulent ICO companies to find their ways into the market and defraud innocent investors of their hard-earned money.
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