Future of Blockchain and ICO
The blockchain is a growing list of records which is difficult to manipulate. Blockchain technology is, of course, is the greatest invention of our time. Still, We are not experiencing mass adoption of Blockchain technology. As usual, the Decision maker is skeptical about this new technology. Hopefully, They will understand the massive impact of blockchain technology in every aspect of our daily life.
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data - Wikipedia
Blockchain technology got massive mainstream media attention due to Bitcoin. As we have experience huge Bitcoin growth last year, common people are now interested in this complicated technology.
Blockchain technology is not only just for the digital transaction, It can use almost every aspect of our daily life. With blockchain technology, we can identify fake goods, keep medical records, Create a decentralized application, and lot more you can think of.
On the other hand, ICO (Initial Coin Offerings) is an innovative idea to raise fund for a particular project. 2017 was a remarkable year in regards to ICO. 3.7 billion dollars has been raised through ICO in 2017. One projects name Filecoin raised $257 million which is the highest ever.
An initial coin offering (ICO) is a means of crowdfunding centered around cryptocurrency, which can be a source of capital for startup companies.
It is rumored that Secret messaging app Telegram is going to raise money through ICO. Some news outlet revealed that Telegram will raise more than $500 million. It is also believed that Silicon Valley's investors are also keen to invest in this humongous ICO.
Absolute Scams
But the danger lies with ICOs is that some of them are a real scam. Organizer used this platform just to steal people's money.
"I think blockchain is a super interesting technology but there are a lot of fads going on right now ... There are a lot of these initial coin offerings which are in my opinion are absolute scams and people should be very wary of things that are going on in that area," -Wikipedia founder
What is your opinion on Blockchain and ICOs in general? Please leave a comment below
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Surely blockchain technology is need of the hour and is most advanced form of technology
and ICO is not more than just a scam to loot money
My opinion,
Blockchain: Really awesome and helpful technology.
ICO: There are both, scams and good proyects with great potencial.
yeah scams are all over, you just need to dig deeper sometimes for your own good and look at past history. regardless blockchain potential is huge beyond that.
Your money your decision. due diligence is very important before investing
Most ICO's are scams for those companies to increase the value of their token with the sole intent of gaining themselves more BTC before their coin flops. Only a small amount are worth investing in, do your research
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Many ICOs' are scam and if you ask me, I will say it's expected in a new technology. Blockchain technology is just evolving and many are keying into it both the good and the bad. I believe with time, a more stringent measures will be put in place to safeguard investors against ICO risk and reduce the number of scammers in the industry. Overall, our dearest Steemit is an offshoot of blockchain technology and I can only hope that it keeps blossoming.
Thank you for your great reply. happy steeming
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I think over the next 2 years, we will see more regulation.. and more businesses adopting blockchain as a means of raising funds or paying dividends to investors.
The coins that will last will be based on businesses, protocols or other useful applications for the blockchain.
The shitcoins will slowly be weeded out during this time.
blockchain will takeover everything.