While the problem is clear, the solution may be less so. Different companies use different IT setups, they have different data usage policies, they use different data formats, and they have to follow different operating procedures. Many use outdated legacy systems, with updates either too time-consuming to consider or too costly to complete. Billions are spent annually on CRM and ERP solutions that may help an organization streamline internal processes, but even these systems run into a brick wall the moment they have to interact with a different system used by an outside party.
This is where the LTO Network promises to revolutionize the way the world does business.
The LTO Network facilitates trustless and automated B2B interaction and collaboration between different parties regardless of the underlying tech infrastructure of the participants. Using decentralized Live Contracts that act as workflows for whatever tasks or processes a business wants to carry out, each party participating in the system can validate actions [not just their own but those of their business counterparts as well], secure their submissions, and interact with other participants in a safe, private, and even GDPR-compliant manner if needed.
The LTO Network does this by running a global public chain that timestamps and anchors data and event. With the global chain acting as an overarching main chain, smaller, customizable ad-hoc sidechains are used exclusively between specific participants or companies to execute Live Contracts, share information, and collaborate on a strictly private and need-to-know basis.
LTO Network has been recognized by many, including Torque Ventures – a high-profile blockchain company – as a groundbreaking innovation in the B2B and blockchain and data space that will accelerate blockchain adoption in the corporate and enterprise fields.
Despite the potential of this blockchain revolution in the business sphere, there are still obstacles to growth and liquidity facing participants in this ecosystem. High exchange listing fees, the ICO boom creating hype for projects that lack real utility, and a lack of transparency all have dealt significant blows to blockchain projects that were actually in advanced stages of development and were ready for public consumption.
To overcome these issues, LTO Network has partnered with BitMax.io [BTMX.com] for its primary listing. Recognized as a leading 3rd-generation digital asset exchange, BitMax.io has grown its user base to over 70,000 since its mid-August launch. With 50 active trading pairs of highly-selective crypto tokens, it provides a broad range of products and services to global retail and institutional clients. This platform not only relentlessly focuses on transparency, reliability, and quality of execution and client services, but also leads the industry offering of innovative trading service. Therefore, it has been steadily moving up the ranks in the competitive exchange space. With BitMax.io commitment to listing only high-quality projects, this strategic partnership is a strong testimony to LTO’s proven track record of development and noticeable potential in the B2B blockchain automation space.
The strategic significance of the partnership between LTO Network and BitMax.io goes beyond simple listing. Both two organizations are considered as pioneers in their respective fields: LTO Network was selected as the winner of the Blockathon held by the Dutch Ministry of Justice and Security, while BitMax.io has established itself as a clear leader in the crypto trading and exchange space. Founded by a group of Wall Street veterans, BitMax.io has built up the team with extensive experience in capital markets, technology, high-performance quant trading and token economics. The depth and breadth of those experiences are the key drivers to its high-performance trading platform as well as its transformational approach to crypto trading. Furthermore, with its industry LOWEST transaction fees at 0.04%, FASTEST transaction rates at 400k TPS, and the very FIRST “transaction-mining & reverse-mining” mechanism, BitMax.io has proved LTO’s selection of BitMax.io as its primary listing partner to be an optimal decision
ICO Tokens Lost Momentum, But GBBC Survey Suggests Institutional Investors Will Get More Involved
The Global Blockchain Business Council (GBBC) recently held a survey to understand the needs and the future actions of institutional investors in the cryptocurrency world. The GBBC learned in this study that 19% of participants see digital assets as being a regular part of investments and trading by 2021.
The survey took from December 2018 to January 2019, using PollRight as their market research company. There were 71 global institutional investors involved, which includes pension funds, hedge funds, and private equity. With the potential growth that the survey indicates, there’s a chance that 16% would be investing in the initial coin offering (ICO) sector of the market in the next three years.
A much larger portion of those surveyed (41%) think that it will take five years for institutional investors to be completely invested in the sector instead, while 23% believe that there will not be any kind of potential for institutional investors and ICOs.
CEO of GBBC, Sandra Ro, spoke on the recent press release, suggesting that a minimum of 10% of the crypto and digital market would be made up by the global GDP. Two other surveys were released by the GBBC that discussed the institutional investors.
In one poll, 63% of the respondents did not even clearly understand the way blockchain technology works or even what it is. The other survey showed that 40% of institutional investors viewed blockchain technology as the most important technological advancement since the internet came to be.
Grayscale Investments, a crypto assets management fund, published their Q4 2018 report, which indicated that the majority of digital assets investments were actually performed by institutional investors. The official data reported that 66% of all investors in these endeavors were institutional investors, as of February 15th.
Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 15th)
South Korean financial watchdog sticks to the decision of banning ICO
South Korean financial regulator sticks to their decision of banning ICOs in the country.
A new update has emerged from the South Korean financial authority, the Financial Services Commission (FSC).
The financial regulatory decided to maintain the ban enforced towards ICOs, based on the findings of the Financial Supervisory Service (FSS).
Started September last year, the FSS conducted a survey to 22 enterprises in the country that had launched ICOs, on which they only received feedbacks from 13 of them.
The FSS found out that in some cases, the startups intentionally presented inaccurate information while conducting their ICOs, which includes “the concealment of basic background information of companies to investors”.
The 3-month survey also revealed a concerning fact that several crypto startups have engaged in fraudulent activities, such as raising money from Korean investors despite the ban and their claim of conducting the ICOs overseas.
Referring to the findings, the FSC decided to maintain the ban that has been enforced since September 2017, as reported by Bitsonline.
The strict regulation on ICOs has caused many Korean startups to migrate to ICO-friendly countries, such as Singapore and Switzerland. But somehow, they still manage to get majority of the funds from Koreans, which the FSC claims to have reached a substantial amount of $509 million combined.
Read more: South Korea’s central bank says there are no plans to launch a CBDC anytime soon
HOW TO STOP LOSING MONEY OVER ICOS
While ICO as a model has been around for a few years now, it’s the last year that saw such campaigns multiply at a rate that could put bacteria in a Petri dish to shame. By the dawn of the next decade, there can be millions of them as long as the world’s regulators don’t ban initial coin offerings altogether.
There are, of course, pretty solid reasons why regulators can be worried. Tokendata stats suggest that 59% of all projects that had held an ICO, failed to some extent, or even proved to be scams. Thousands of articles, blog posts, and statements from officials and crypto industry stakeholders stress that crypto is, at very best, a very young industry and still an experiment, so the risks involved in crypto investment are huge.
Still, the apparent easiness of increasing your investment tenfold overnight attracts lots of people to such projects. The problem is that there are so many of them that even seasoned investors may feel confused. Is there any way to determine if a project can make it? In fact, there is more than just one method.
IS IT A SCAM?
That’s probably the first question potential investors should ask themselves. There is a pretty high probability that at least some ICOs you have heard of today are run by dishonest people who cared only to develop an attractive landing page without even thinking about creating an actual product.
So, how do you tell a real ICO from a scam? There can’t be 100% certainty in anything, and everything can potentially have a different explanation, however, there are certain red flags any potential investor should heed when evaluating an ICO.
- Whitepaper: It’s a very important part of any project. While it usually doesn’t have any legal weight, and, technically speaking, is nothing more than a glorified prospectus, this is the exact place where the project’s team explains what they’re after, and, most importantly, how and when they’re going to accomplish it. If there is no whitepaper, that is a very bad sign. If there is one but it is sloppy, offers unrealistic profits or timelines, and drones on and on about the same thing without actually answering any questions, it’s also a fair reason to doubt the project. Finally, some projects even go as far as to plagiarize someone else’s whitepaper, which basically should dispel all the doubts: if the project steals someone else’s text, it might as well steal something else.
- The team: There can be very good reasons for a team to remain anonymous. However, in most cases it should look a little suspicious when people who ask you to give them money don’t even introduce themselves. However, scammers don’t usually opt for staying incognito. Instead, they find little known pictures of some foreign actors and place them on their landing pages under different names. While a honest team may want to stay beyond the spotlight for some reason, it will not lie to your face about the team’s identities. So, make sure that the people the projects tells you are its team are real, and their credentials check out, which includes their social media accounts.
- The technology: Blockchain is a real buzzword for many industries, so there are lots of companies who claim they apply the tech in their operations. But ask yourself: is it really necessary to add blockchain to this particular use case? Is it possible that it could have worked great without distributed ledgers? At very best, you’re looking at a project that seeks to ride the hype. At worst, it’s yet another scam. The same goes for the project’s source code: if it’s not available, not being developed, or just doesn’t make much sense to anyone who has relevant expertise, the project is probably a scam.
WILL IT WORK?
While those measures are just about basic reason, they cannot insure you against falling for a scam. The bad guys are aware of the red flags as well, so they devise new techniques to fool people.
Still, scams aren’t the only danger when it comes to investing in ICOs. Some projects are honest but fail due to unrealistic expectations, unsound planning, and other issues related to the team’s proficiency. Is it possible to tell such projects from those that can succeed?
The short answer here is no. Any professional investor or venture capitalist will tell you that almost 99 per cent of all projects they have invested in have failed. Keep in mind that those people are really good at telling the wheat from the chaff. When it comes to business in general, there are too many factors that are reasonably beyond anyone’s control, so there can be no certainty.
However, even if the certainty isn’t an option, is there a chance to detect projects that are more likely to make it? The answer is yes, there is. The thing is that if you can’t rely on your own judgement, you’ll have to rely on someone else’s.
See if there’s a prominent and well-respected figure involved in the project. And it can’t be a celebrity that promotes it. It has to be someone who had been involved in the industry for years, someone who has done other good things that you know of. If such a person deems a project worthy of his or her involvement, that means the chances of eventual success go up a little bit.
Another option is quite specific to the crypto industry. Blockchain tech has enabled the creation of provably fair prediction markets, and, as it turns out, the collective wisdom of thousands of people returns pretty good results. There are at least three prominent and well-respected projects of this kind, namely Augur, Gnosis, and Wings, and each of them offers a decent functionality, though the first two focus on any sorts of predictions, while the latter is more about estimating the ongoing fundraising events in the cryptoindustry.
Basically, a prediction market works similar to ask the audience on Who Wants to Be a Millionaire? The difference is that they answer the questions to which nobody at the moment knows the right answers, such as ‘who will play in the next Super Bowl?”, “will it rain this time in three months?”, or “will project X become successful?” The answers coming from thousands of other people eventually draw a probability picture for a certain outcome, and, as it turns out, the most popular answers tend to be the correct ones in most cases.
There is no way to know f0r certain if an ICO eventually gets successful, and the project lives up to its promise. Any investment is a game of chance at its heart, and there can be no safety net except for your own reason. But investment is also a game of skill, the greatest rule of which is to never put in more money than you can afford to lose. No matter how you choose your winners, you should always keep that in mind.