Re: IBOs instead of ICOs?

I read a recent article about something innovative that UCash has been implementing: IBO instead of ICO. You will ask, what is an IBO? Basically, IBO participants invest their skills and time to earn rewards in the new cryptocurrency. Contributors to the IBO are given specific tasks that are associated with corresponding amounts of crypto tokens as rewards.

Here is the link to the article that explains it more into details:
https://www.financemagnates.com/cryptocurrency/innovation/forget-icos-initial-bounty-offerings-exchange-skills-crypto-tokens/
https://cointelegraph.com/explained/how-initial-bounty-offering-can-help-the-unbanked-explained

The concept itself is quite original and innovative, or is it a way to escape from regulations?

ICOs already have IBOs very often to promote themselves. It's happening right here on Bitcointalk too, having ICOs throw around with millions of dollars for their IBOs. These IBOs often includes Signature campaigns, article writing, translations, social media promotions, etc!

However, an initial bounty offering using purely bounties and no sale is interesting, though I'm kinda sceptical about how they'd make their money... Projects still need money, even when a lot of human work is provided to them...

These articles lack readily available information about that.

When you can essentially crowd source time, what do you need money for? I don't think this would be in lieu of other fundraising methods. If you have a supplier who will only accept cash, someone could provide cash for "equity". No?

For an ICO project to succeed and call in millions of dollars, paying for PR campaigns is a great thing for the project to reach more investors. Most successful ICO projects that I know have a very aggressive campaign to attract potential investors to know and invest in the project. It is absolutely necessary to spend a small amount of money to get the results you expect.

That's true. I referred to that. These "suppliers" of marketing might only take cash. However, you would be able to pay a marketer in "equity" and you could still have a "bounty" be providing the company with cash, or am I missing something?

Anyway, this is just like how a lot of start-ups operate now. They pay their employees with equity and minimal cash, except this is more like paying your 1099's in equity too with the idea they can cash out much sooner because there is no need to IPO. Creating liquidity for your token is paramount, this facilitates that.