Bitwage, a platform that works towards providing remote workers with effective means of receiving payments, has implemented a startup called, Inwage, in the hopes of helping companies and individuals launch Initial Coin Offerings (ICOs).
Inwage’s platform can be considered a great start for firms that have no previous experience with launching tokens. Some of the services provided are said to include KYC (Know-Your-Customer) procedures, event marketing, traditional advertising, payment procedures and a tailored web page in which companies can display their project goals and executions as they please.
Check out the news, we started an ICO advisory firm! https://t.co/gsA2S9Zu0O
— Bitwage (@Bitwage) May 29, 2018
To ensure that those involved are on the right path towards launching tokens and are also well educated on the several facets involved, Inwage will also provide the necessary aid in making and reviewing smart contracts. This is definitely an important aspect to consider as such contracts represent transparency, speed, security and trustworthiness to name a few.
The creation of Inwage, according to the Bitwage President, Jonathan Chester, stemmed out of necessity, as many individuals and companies have been seeking help in better understanding the steps and procedures taken in launching a successful ICO. He further went on to say that:
“People can licence the Inwage software and host it themselves. This is actually one of the beautiful things about ICOs, the ability to sell a digital asset without the requirement of a third party.”
When considering the effectiveness of the platform in place, Chester told CoinDesk that it helped launch a token, Moria with a goal of $30 million to raise over $50 million. Chester also suggested that the Inwage team will be looking into “regulatory compliance” to ensure that more access is granted to the mass population.
The project itself is an interesting one to consider, however, it would have been more interesting to see how Inwage would prevent scams and red-flagged projects from being advertised on its platform, as several ICOs today are believed to be a hoax.