How to fit blockchain technology into your own business model?
A great ICO is the result of a decent product, an aggressive marketing campaign, and proper consumer positioning. Mssassi Souhail, CEO of Shellboxes and Founder of CRISIS, recommends carefully considering how foundational components of a newly formed organization will fit together in sync, strengthening and complementing one another when creating a company specialized on blockchain.
The most serious problem with the project’s design is that the ICO is a brand new framework, and developers are seeking an exceptionally large return from their investments. They would preferably want the funds to be compounded by a factor of a hundred, which is incomparable to earnings on conventional markets. Why is this the case? That an ICO is basically a fast-growing enterprise that is being established at a quick rate and scaled to new markets. It should ideally be multinational and have some kind of creativity that distinguishes it. That being said, all economic transactions — or at least some of them — are represented by a finite number of tokens, implying that token issuance is limited. As a result, as the company expands, the amount of goods increases, and as a result, the token’s price rises dramatically, adding benefit to the investor. As a result, the benefit is provided not by the company or the commodity itself, but by the unit of the ICO project known as a “token,” which refers to the business processes.
In ICO project architecture, it is critical to develop business processes and sell the token in such a way that it is appealing for investment and has both the potential for external demand growth and the potential for internal value growth while scaling the project. The project itself should be operational and providing some benefit to the society, primarily by executing the activities for which it was designed. To put it another way, tokens are the first main factor, and the project, with its internal dynamics, is the second. And what we have to do is for these two to cooperate so that they have a solid shared purpose. It’s a big challenge, I must admit! Not all startups are up to the task: more frequently than not, And sometimes a company can operate even more efficiently without the use of a token at all.
How do you think we can say if the developers are operating on a genuine ICO?
It’s difficult to tell, since ICOs are mostly a fund-raising operation, rather than the actual realization of a proposal. It’s a publicity strategy and group management, among other things. Running an ICO is the duty of public relations and communications experts, as well as the CEO who is successfully gaining interest and investors to the project. The project is a commodity that was produced with the funds collected through the ICO. Following the ICO, the job for developers is to begin real product creation. I can discern between the progress of the fund-raising effort and the team’s performance on future project development — these are two distinct matters. That is why, in my opinion, the secret of a good ICO is, first and foremost, a large scale of PR events and group management as well as a massive and aggressive marketing campaign. The second phase is to ensure that the proposal is transparent and of high standard.
which channels are best for issuing tokens?
Token issuance is a technological as well as a political operation, since several sites provide various means of assistance if you want to include them while creating the proposal. Stellar and NEO, for example, are receiving financial assistance from a number of foundations linked to their habitats. What makes them do it? They are, after all, winning more promotion and extension for themselves by doing so. For eg, there is a blockchain-based social network called ‘Golos,’ which has its own fund that finances the ventures that participate in it. As a result, developers should pay close attention to this, as the choice of base platform will significantly influence the project’s market performance.
Ethereum is unquestionably the most common platform for blockchain projects with simple functions. It’s an easy and effective method for the task. Of note, there are more solutions for more complex activities.
You will have a special master lesson on the ICO-economy. Will you kindly expand on the main concepts of developing an ICO-economic model?
Again, the ICO-economy and the token-economy are not the same thing. The aim of the ICO-economy is to prepare tokens for future selling. I’d like to emphasize that an ICO is purely a fund-raising operation, in reality the selling of a potential commodity and the economic resources that come with it. I suppose what I’m trying to suggest is that the token is valuable, but the result, i.e. something produced after the capital is collected, is much more essential. That is why I prefer token economy over ICO-economy, which is very simple: all you need to do is choose an ICO-auction model. Creating an economy-model for a potential commodity and company of token convergence, on the other side, there is a far more complicated story.
When it comes to token economy main values, a token can be organically incorporated into the market without disrupting the business processes and providing value to both founders and customers.
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