New blockchain platform seeks to protect investors from unreliable ICOs
Astronaut is offering a streamlined investment platform for the burgeoning ICO Token market.
A new blockchain platform has launched to offer investors a streamlined way to invest in the rapidly expanding Initial Coin Offering (ICO) Token market. Singapore-based Astronaut has launched its own ICO, opening up an “investment-style syndicate service” that aims to protect investors from “unreliable” ICOs within the blockchain ecosystem.
ICO campaigns include a whitepaper through which investors can better understand the fundamentals of the project. However, Astronaut’s release states that “most whitepapers are as good as promotional documents designed to entice investors into the projects.”
Working with Piccolo Research, Astronaut will look “beyond” the whitepapers of ICO campaigns to find the value of the projects and determine how realistic the project aims are.
“Our view is that organisations such as Piccolo Research and Astronaut need to be established to critique the merits of upcoming ICOs to ensure that the blockchain ecosystem is not tainted by those who are taking advantage of it for personal financial gain,” said Matthew Dibb, CEO of Astronaut.
The difficulty with ICOs lies in transparency, which can arise when companies adopt “unconventional methods” to meet targets.
“It is common to find situations where tokens are almost sold out internally or reserved before the actual public exposure.”
Currently, there are over 60 new coin offerings per month, but this is expected to expand as blockchain and altcoins become more widely used.
“As a matter of consequence, the level of difficulty for individual investors in analysing the market is bound to increase,” Astronaut’s release said.
While bitcoin’s value continues to surge and investors look to cash in on the next opportunity, any platform or service to bring transparency and legitimacy to the market is likely to be welcomed.