Bitcoin Global News (BGN)
September 17, 2018 -- ADVFN Crypto NewsWire -- In a previous piece,
we spoke to you about Civil’s goal of revolutionizing the way that
news is sourced as well as published. What you may not know is that
their ambitions reach far beyond this already lofty goal, to the
ICO space.
Over the course of 2018, it can be
said that interest in the ICO fundraising model has been falling
considerably, due to the global tightening of regulations around
the space, which are often confusing.
In the face of what some critics
are effectively calling the death of the ICO, Civic is proposing a
bold maneuver. In short, they plan to open up their upcoming ICO to
everyone who wants to participate in it, removing any barriers
related to being an accredited investor.
As a recent article on the subject
by Coindesk mentions, this would seem to almost openly call for
government retaliation. On the other hand, if you take Civil’s
reasoning for taking this action into account, the opposite could
also be true.
Like other projects have done
before them, Civil is reportedly sure that the token framework or
the structure of their ICO is essentially the ideal in terms of
legally conducting what can be called “an open token
sale.”
Just like we have already suggested
above, an open token sale is really nothing more than an ICO in
which essentially everyone can participate. The kicker is: Civil
did not create this framework and it has already been use by a
project called FOAM, which aims to be the first decentralized world
map.
In FOAM’s case, they seem to have
avoided regulatory scrutiny so far, possible due to the fact that
they have restricted any movement of FOAM tokens for the first 45
days after the project launched. In addition to this, users are
prohibited from moving their tokens off of the platform at any
time, until they have noted at least 10 points of interest on the
world map, which would seem to incentivize actual usage of the
platform.
While these do seem to be steps in
the right direction in terms of moving ICOs away from being seen as
simply speculative securities, it can be argued that the major
concerns of regulators have still not been
answered.
In essence, this appears to be a
temporary fix, on the way to one that is more indicative of the
space completely moving away from rampant
speculation.
Time will tell if Civic proves to
be the project that takes all of this a step
further.
By: BGN Editorial Staff
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ICO
Cryptocurrency