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RE: ICO Whitepaper and the Reality.
Very good point. And I loved the blockchain horse graphic! Just thinking off the top of my head here, but I wonder if part of the reason has to do with the mentality of the tech world? In Silicon Valley, for example, there seems to be a real push to get a product to market as fast as possible. Products are released in "beta," a little bit half-baked. Companies are encouraged to create a Minimum Viable Product (MVP) rather than a fully-featured, fully-tested product. That might work with an app... but not with a blockchain project!
I think you are on to something. Some blockchain projects have been working to deliver something for years. That would not be tolerated in Silicon Valley.
If it's an infrastructure project it might be different. But with dApps or tokenized ecosystems projects you can release a MVP/POC or a private beta (as a pilot). For example, Dpact is a microfinance project using blockchain, in less than 3 months they released a pilot (MVP) and they are doing tests to see how it will scale.