Trust in business is an element that is always missing. However, the blockchain seems to have found a remedy. Iconic is a blockchain venture that plans to facilitate the financing of business assets and ICOs through a decentralized manner of trust between parties. Apparently, the platform will become an ecosystem that offers individuals a safe channel to fund an ICO without the fear of losing money.
The Iconic Ecosystem
The ICONIC ecosystem will have three operational platforms to facilitate their plans. The first branch is the Environment, and all though it might be confusing, this is where the initial coin offering will occur. Every token offering or investor order will take place in the Environment. In sorts, it's a community for ICOs.
The ensuing phase is the Trading stage, which acts as an aftermarket for the ICOs. Any active trade of the tokens or finance promising occurs under this step before any confirmation happens. Upon completion of the ICO, the last stage is the Assurance phase. In here, all the smart contracts will be enforced to ensure the investors oblige to their earlier promises. As the most critical stage, The Iconic Assurance works as somewhat as a safety guarantee to protect the investments in the long run.
What Iconic Assurance Entails
For quite some time, investors have been losing their finances through fake or bogus ICOs. Nonetheless, ICONIC plans to eliminate the bad ICO experience by introducing the Iconic Assurance framework. The platform will provide an escrow, auditing tools, and an arbitration panel. In return, this will offer more security on the investment, and any ICONIC user can request for an audit of a firm regardless of their country or continent. In short, the Iconic Assurance framework will work to protect blockchain investments through certifying, monitoring, and auditing. In the end, the rate and quality of ICOs will mature, and we will no longer experience the typical ICO scams.
Iconic NIC ICO Details
The Pre-ICO is already underway, and the ERC20 token sale will conclude on 10th February. That is a rather small window for an ICO but judging from the 500 million Iconic tokens (NIC), I would concur that it is fair. The pre-ICO and ICO are to take an estimated 85% of NIC, with 8% going to the project owners and early investors. The rest will be divided between advisors and the bounty programs.
Will Iconic Initial Coin Offering For Blockchain Crypto Assets Work?
Judging from the number of ICO coming up, it is difficult for an investor to differentiate a real opportunity from a scam project. With Iconic assurance, the user is provided an intermediary whose work is to discover the right incentives and reduce the probabilities of misconduct between the transacting parties. However, for Iconic Assurance to become famous, there will need to be a broad scale adoption within the crypto world. That might prove a challenging task to the relatively new project, and better innovations are already underway.
The Iconic Ecosystem looks like a viable project to connect our business assets to the blockchain. Additionally, the team is also pretty determined to see the idea work. Their motivation stems from the fact that this is a pioneer in relatively new technology. Still, the platform has a lot to achieve, and more effort by the development team is essential for the program to succeed.