Initial Coin offerings remain one of the prevalent industry, but there are many concerns about how things are turning out on the same. There has been a drastic increase of scams and fraudulent ICOs, and something should be done soon to revert the situation. On that note, Eric Ly, the co-founder of LinkedIn has the solution to this problem.
Can ICOHub Get Rid Of The Swindlers?
Over the past few months, it has become clear that there are various aggressive scammers in the ICOs circles. There are numerous projects created every week, and it has proven hard for investors to distinguish between legit and scam offerings. It will be a significant challenge to address this problem.
Eric Ly admits that something has to be done immediately. He also notes that it is a challenge to build trust over the internet currently with a rapid exchange of money and companies fundraising millions of dollars without any regulation in place.
Eric has developed the ICOHub platform to provide a solution for this problem. The platform enables investors and those interested parties to ascertain the integrity of these ICO. This service will be significant at this moment, but it always remains the effort of individual investors to do their research before contributing their money to a project.
Over the past few months, many investors are currently attracted to advertising instead of getting to know what the project wants to achieve. No one doubts the potential created by Blockchain technology, but scammers are smart enough to trick investors to believe their projects are legit.
ICOHub aims to reveal the repo of both individuals and entities. Even though there is a link between the reputation of entities and individuals, it is significant to check these reports separately. It is considering that founders and companies could work using fake names.