Recently, I've seen a lot of positive press regarding IEOs. After all, Binance is already successfully running them, giving ICO projects a chance to shine and many other exchanges are following suit.
My personal opinion is that IEOs should be discouraged. Firstly, it gives more and more power to these centralised exchanges, who are able to charge higher, more ridiculous listing fees for coins as well as extremely large payments to hold IEOs. Their vested interests in this way mean they are less likely to care about vetting projects that may be untrustworthy, leading to even more irresponsible behaviour.
People trust IEO now days because they tired of losing their money on investing ICO project. Anyone can create a fake project in ICO and they can loot people money easily. But It's tough to do that in IEO. It's true centralized exchanges are take their advantage for that. But in my personal opinion i want to invest on a good project and wanna profit from it. I don't wanna invest on a shit project which available in ICO. (Not all but most of them)
We don't want to end up in a situation where to trade any meaningful amount of crypto you have to send your name, address, ID, and bank account details to some exchange which can do whatever it likes with your data.
I can agree with that. KYC or AML is the worst thing in whole crypto industry. Even if someone want to participant a bounty project they also want KYC. Of course they want because of reduce scam participant but doesn't matter what is that given a personal information is not suitable in crypto industry.