Aimwise

Aimwise is a decentralized ICO “servicing platform” made by a China-based team of developers. Find out everything you need to know about Aimwise today in our review.

What Is Aimwise?

Aimwise, found online at Aimwise.org, is a blockchain technology built on the Ethereum blockchain. The platform combines three different modules. These modules work in conjunction to transform blockchain startups as an investable product. The overall goal of Aimwise is to “redefine the ICO platform as a fundraising vehicle and contribute to the development of better quality blockchain applications.”

Aimwise launched on the internet in August 2017, just one month before China banned ICOs and other cryptocurrency trading activities. The company is currently in a state of flux, and it’s unclear what the future holds.

With that in mind, let’s take a closer look at how Aimwise works.

How Does Aimwise Work?

Aimwise consists of three main modules, including all of the following:

ICO Hosting Platform

This platform is currently running in a centralized environment – not on the blockchain. The ultimate goal, however, is to transition to a fully decentralized ICO hosting platform. That platform will be designed to facilitate the selection of high-quality blockchain initiatives by utilizing unique filtering and vetting mechanisms and providing the ultimate decision-making power to the community.

Portfolio Management Solutions

Aimwise aims to provide automatic fund management solutions to community members. This system will lead to the development of on-chain portfolio protocols based on predefined preferences.

Crowd Incubation System

Aimwise’s crowd incubation system is designed to use the reward-based idea-mapping technology to provide functionality for public discussions, market research, and idea development.

What Problems Does Aimwise Seek To Solve?

Obviously, there’s quite a lot going on with Aimwise. So let’s take a look at some of the crucial problems that the platform seeks to solve in the world of blockchain startups:

  • Startups with no mature business models, ideas, and teams are raising enormous amounts of money with no solid foundation; this puts the credibility of the blockchain ecosystem at risk
  • Amateur investors are exposed to risk due to the lack of an organized reporting system
  • Centralized crowdfunding platforms accumulate funds in their accounts
  • These same centralized platforms have a monetary incentive for every project, regardless of the quality of the project
  • There are no intuitive consultancy tools for contributing private funds in the blockchain ecosystem

Overall, Aimwise wants to be “at the forefront of blockchain-driven innovation”. It wants to create standards for the ICO community. The developers want to standardize the fundraising and token sale processes with the aim of benefitting the entire blockchain ecosystem. The company wants to implement better quality-control practices into the blockchain technology, helping to spur worldwide adoption of blockchain technology and ICOs.

How Does Aimwise Work?

Here’s the basic process by which companies can seek to gain approval through Aimwise:

Step 1) Submit An Application Package To The Platform:

The startup will submit information about the project, the main target of the project, details of the token sale, and more. This information is validated by an independent reviewer (an oracle on the blockchain) to validate the information and make it more user-friendly to the Aimwise community. This initial application is no joke, and will require the company to submit a wide range of pre-ICO and post-ICO details. Companies will need to submit a whitepaper, a website, ICO details, press releases, development plans, business model details, and a long list of other details about the project.

Step 2) Independent Due Diligence:

This step involves an independent review by a third party, which is conducted by an oracle. Aimwise token holders use their voting power to select the independent reviewer for each rotation period from a number of nominees (which include partner rating agencies).

Step 3) Approval Of The Platform And Token Holders:

If the startup passes the two approval steps listed above, they’ll be approved for inclusion on the Aimwise platform.

Aimwise Tokens

Aimwise tokens have two main uses:

  • Token holders can receive contribution fees as a share of the commission charged by the platform; companies pay to have ICOs hosted on the platform, and token holders get a cut of those fees
  • Token holders have the right to vote for the quality of a new ICO project that’s seeking to be listed in the system

The Aimwise token sale was initially scheduled for September 2017. However, it appears to have been put on hold as part of the recent Chinese ICO ban.

Who’s Behind Aimwise?

Aimwise describes their team as “members with over two years of blockchain experience, PhD candidates with academic experience in blockchain research, professionals with significant technical and working backgrounds in fintech, banking, corporate law and corporate finance.”

Aimwise After China’s ICO Ban

China banned ICOs and Yuan to crypto trading activity in September. This has thrown the Aimwise project into a bit of turmoil. The company released a statement through Aimwise.org where they explained they’re stopping any new ICO project as of September 10 at 12pm. After that time, the project is considered completed.

Obviously, China’s cryptocurrency regulations are in a state of flux, and it’s unclear what the future holds for Aimwise or for other blockchain companies in China. However, Aimwise’s statement agrees with the Chinese regulations, saying,

“Aimwise agrees and believes that regulatory measures are a prerequisite and basis for sustainable and healthy development in the industry.”

Aimwise AIM ICO Conclusoin

Aimwise is an ICO regulation platform that seeks to introduce standardized regulations across the ICO industry. It seeks to standardize token sales, for example, and other compliance procedures. Aimwise was introduced to the internet in August 2017, just one month before China announced a ban on ICOs and other cryptocurrency trading activity due to lack of regulation. Right now, the Aimwise project is in a state of flux, and it’s unclear what the future holds. However, you can visit Aimwise.org to get the latest updates on the project – it may play a crucial role in the future of Chinese blockchain technology and ICO regulation.

TOP GUIDE ON HOW TO BUY BITCOIN TODAY

Enter Your Email To Receive Weekly Cryptocurrency Coin Reviews, News & Investing Insights

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here