ICOs: What You Need to Know About Them - Interview with Anar Babaev


Sep 27, 2017
Token holders’ reward is the opportunity to use the product or service which would not be available to them without a token. Think about it as an exclusive private club in which only the members get access to certain discounts, economic benefits or offers – says Anar Babaev, co-founder and CMO of ICOBox in Bithub.pl’s #SundayInterview.

ICO is essentially a form of crowdselling. However, there are quite a few crowdselling platforms in the internet, many of them addressing specific types of projects. Why would ICO be better than, say, Kickstarter?

Anar Babaev: Indeed, as a crowdsale technology ICO is similar to Kickstarter, with one major difference: since it is implemented on blockchain, it is much more secure and transparent. It is a tool for conducting sales of tokens backed by specific readily available products and services – not just a bright idea or a pie in the sky. Kickstarter targets general audience, and although until recently ICOs tended to focus exclusively on high-tech blockchain projects, ICOBox intends to shift the situation by bringing into the fold non-blockchain startups that are seeking new markets for their products and services.

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