As anyone would take notice, cryptocurrencies are causing quite a stir in several media outlets, and it is pretty easy to see why they do. With the rise of digital currencies perhaps we may finally eliminate the need for financial intermediaries and institutions such as banks
Despite the crypto buzz, the adoption into our banking industry is still long overdue especially due to regulation. But other ventures are still finding ways to elude the normal comprehension with blockchain in banking. Perhaps the Shanghai Cooperation Coin would help this notion to become more precise
What Is Shanghai Cooperation Organization?
SCO or Shanghai Cooperation Organization Coin is a blockchain platform that looks to integrate banking and payment systems with individuals under a decentralized structure. Through their use of blockchain technology, SCO platform will allow members to use digital currency without fear of sanctions in an almost instant and inexpensive manner. SCO will look to offer their blockchain-based banking solution to the Asia market as an initial phase, but it remains with a global concept.
How Shanghai Cooperation Organization Works
The SCO platform incorporates its token (SCO) as the fuel to its financial services system. Under the multicurrency payment system, users will need to use the SCO tokens for their calculations, allowing for the real-time demand of the crypto within the ecosystem. Additionally, with SCO there is the possibility for global payments and distribution for the users looking to transact with other individuals, regardless of their borders.
What Does SCO Mean For The Crypto Industry?
The standard use of fiat currency is fast gaining traction, and there is anticipation that cryptocurrency could replace the traditional payments. Here are the possible implications:
- Unlike standard currencies, SCO will not experience inflation issues with the token only expecting further grow with the rise in cryptocurrency popularity
- The SCO protocol (SCOP) provides for the open participation of members within the crypto network. Ultimately, this could promote the organic growth of the SCO network
- The modest financial and computational requirements reduce the entry barrier for new individuals looking to use the financial systems potentially.
- The bounty and referral campaign is also a significant point of gain for anyone showing interest in Shanghai Cooperation Coin
- SCO will allow for commission-free transactions to generate greater prospects for the implementation of the SCO project.
Shanghai Cooperation Organization SCO Token ICO Details
- May 1, 2018, till May 31, 2018(Ongoing)
- 1 SCO= 0.0015 ETH
- 5 June 2018 till 5 August 2018
- 1 SCO=0.0015 USD
Parameters Of The ICO
- Token- SCO
- Token price- 1 SCO = 0.015 ETH
- Minimum investment- 1 SCO
- Accepting- ETH
- Overall token supply- 1 000 000 000 SCO
- Sale on ICO- 810 000 000 SCO
- Platform- Ethereum
Token Financial Model
- Sale- 81%
- Command- 12.8%
- Reserve fund- 6%
- Early investors and advisers- 0.1%
- Bounty and Referral program- 0.1%
Shanghai Cooperation Organization Conclusion
To sum it up, SCO promises a lot of merits for its potential holders. However, the project's outlook downplays the potential it could have within the financial markets. In short, the SCO venture looks amateurish especially the quality of the website. Additionally, the details of the ICO are outright shallow on the platform's concept. There is also concern on the development team which is rather small for a platform looking to build a global reputation. In conclusion, SCO is further from what we would say is a reputable ICO.