More

    Varanida Blockchain Ad Project Will Refund Backers If Team Benchmarks Not Hit

    Blockchain Ad Startup Will Refund Backers If Development Milestones Are Not Met

    With so many ICOs having problems, a lot of investors associated them with scams and bad companies, so it is normal to be wary. Now, Varanida, a new blockchain startup company, is decided to offer some guarantees for its investors and has promised to give the money back to them in case the milestones of the project are not met.

    According to the company, this platform was built for three main reasons: to improve the transparency for brands who advertise, increase the revenue for the publishers and to give a better experience for the public.

    Who to achieve all these goals? The company believes that the right answer is to improve the online digital services and to create incentives that can be less intrusive and lead people to see what they want to. Advertising has to be interesting.

    At the moment, the company is on the second round of token offerings and it uses a new hybrid model that follows the old ICO traditional format while also using the DAICO concept, which was recently championed by Vitalik Buterin, the founder of the Ethereum blockchain.

    How Does The DAICO Format Work?

    DAICOs are used to make ICOs more secure because they actually involve the investors more and give them more guarantees. For instance, they can vote for how the funds will be used by the company and can ask for refunds if they do not believe that the funds are being used well.

    The system works in a similar manner to DAOs as trust it not necessarily just given to the team and the investors which backed the project retain power on how their funds will be used for the development of the project.

    The DAICO system was initially created in an effort to mitigate ICO scams and to motivate the teams to actually deliver results. However, it is far from perfect, as the system can be easily gamed if the developers hold most of the funds or the investors are not very interested in voting.

    Varanida’s CEO, Anji Ismail, has affirmed that the main goal of the company is to always improve the content and advertising market while giving the users their privacy and letting them own their data as well as providing with a great experience and respecting them. Because of this, it is important to also respect the investors, she believes, and let them be in control.

    According to her, this can give an incredible insight into the people at the company and enable a community of users to decide which milestone should be the next one to be pursued. The CEO has also affirmed that a failure in achieving a milestone would automatically refund the contributors of the project, so their will is protected.

    Ending Bad Ads

    The main of Varanida is to give online users the control of their experiences when browsing. Today, people do not have control anymore, as their data is used by companies and they see ads that they do not want to. The company believes that the future of advertising is all about that. By seeing ads, users can receive rewards in VAD tokens and unlock premium content from their favorite content publishers.

    While it may look to some people like this is not a great idea, the CEO defends that it actually is as the sites will enjoy more revenue and they can reinvest this money in engaging content to convince the users to see the ads. This way, they can use paywalls without hurting their consumers and make them informed.

    This way, the users will considerably be more engaged and they will not only ignore the ads, which can beneficiate all of the involved in this ecosystem and let them explore new formats, according to the company.

    Varanida’s second token round ends on October 5 and the third round will be divided into three stages, which date will be decided soon.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

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

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,366FansLike
    2,782FollowersFollow
    4,137FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    National Internet Finance Association of China Warns Against Manipulative Crypto Exchanges

    The National Internet Finance Association of China(NIFA) has issued a warning for investors who have been associated with the crypto-verse about the growing risks...

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.