Re: Is It Possible For Fighting SCAM Project Through A System Or Mechanism?
its not really a billion these scamer then are trying usually to invest their money into other ico, so this number might have been acumulated,
i doubt you can fight scam because its also difficult to define where scam begins.
and icos where created because venture capital simply started to suck and became impossible to use.
for bigger projects. what you are suggestion is basically regulating and controlling more, but why do we do icos in the first place then?
because we have already venture capital for those hardcore analys projects. icos on the other hand give the developers freedom and security,
because if they cant get the funds they simplly create more of their token, so they have freedom to achieve their projects and develop it
some icos simple weren't able to deliver a useful product, or werent able to get the supply they needed be it professionals labour, materials, equipment etc.
regards
i doubt you can fight scam because its also difficult to define where scam begins.
and icos where created because venture capital simply started to suck and became impossible to use.
for bigger projects. what you are suggestion is basically regulating and controlling more, but why do we do icos in the first place then?
because we have already venture capital for those hardcore analys projects. icos on the other hand give the developers freedom and security,
because if they cant get the funds they simplly create more of their token, so they have freedom to achieve their projects and develop it
some icos simple weren't able to deliver a useful product, or werent able to get the supply they needed be it professionals labour, materials, equipment etc.
regards
Yes it is accumulated, while in other amount the total of fund raised until Q1 is around 6 billion USD. The percentage is too big I think to be tolerated, this can effect a lot to ICO as the key of our project to be run is on ICO.
There must be a centralized organization that must fund the community policing of this. So you get donations from the community to fund a global centralized initiative to monitor and report on scam sites. You can use these funds to pay for the hosting of a website that lists the bad apples and also the legitimate sites.
You can also reward people that are willing to spend time and resources to investigate these sites and then to bring proof, if these sites turns out to be scams. A lot of sites might look legitimate at the start and then they turn scam at a later stage.
You can also reward people that are willing to spend time and resources to investigate these sites and then to bring proof, if these sites turns out to be scams. A lot of sites might look legitimate at the start and then they turn scam at a later stage.
Your idea is excellent mate, I agree with you. To monitor the activities of scam project should be carried out by a global centralized, and the funding system can be by donation. This centralized should be global as the start up are scattered around the world, even first action to verify the site through document but it is necessary to visit official office of such start up for further collecting necessary information or do investigation if found suspicious things or receipt a report from community.
Due diligence and reputation management system and protocol can help for sure 
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. Yes it can be applied on such system for a site which launching ICO, but later should also need to monitor the project for Post ICO perhaps in certain year (?).
You've raised a very important issue.
Now the market and the ICO mechanisms as a whole aren't settled - and that gives space for cheating and scam.
I also think that some fair rating system, due diligence will help to ease the problem in some way.
I general, I think in some time we'll come to set rules and terms of conducting crowdsales and etc.
Also, DAICO is very promising version of ICO with more transparency and reliability. If it spreads, it can be good for the market
Now the market and the ICO mechanisms as a whole aren't settled - and that gives space for cheating and scam.
I also think that some fair rating system, due diligence will help to ease the problem in some way.
I general, I think in some time we'll come to set rules and terms of conducting crowdsales and etc.
Also, DAICO is very promising version of ICO with more transparency and reliability. If it spreads, it can be good for the market
I see a glance of DAICO, seems it is better rather than ICO but needs further exploration of this new scheme even claimed to present more fair for every parties involved.