In February 2018, more than 15 million tokens were stolen from the Titanium ICO. A few months back, the hackers stole approximately $13 million from the token platform Bancor. While the investments in ICOs are growing at a constant rate, these kind of breaches and thefts are also happening at an equal pace. As the cryptocurrency investments are not covered by any kind of insurance, the companies and the investors are suffering heavy losses due to the thefts and security breaches. Because of that, the investors are not able to trust the cryptocurrency investments, and they look for more secure options to invest their funds.
Are all the ICOs able to achieve the project milestones on time? No. Out of 100, 80 ICOs turn to scams. Either the project owners go offline after the token sale event or stop the project in the middle due to lack of efficiency. In both these cases, the investors are not able to get their money back. As the investors are not able to judge the outcome of the ICO project, they take wrong decisions which results in a great financial loss.
How to make the ICO investment more reliable and secure? To help the investors to find the right ICO and to protect their assets, Bitdepositary is developing a new kind of funding community with an integrated payment system. The backend of the payment system will be developed using the world’s No.1 CRM software Salesforce. Every token sale transaction will have to pass through the Salesforce-based ultra-secure system which will ensure utmost security for the user’s assets. In fact, Bitdepositary claims it will be first ICO to integrate Salesforce with the blockchain technology. To learn more information about the platform, please visit the official whitepaper https://bitdepositary.io/whitepaper.pdf.
To prevent the wrong investment decisions, Bitdepositary provides full guidance to the investors through its voting system and TeamBit. TeamBit consists of legal advisors, financial advisors, experts etc. Any ICO project will be fully evaluated by the above specialists before it is passed to the funding community for voting. The weight of votes varies based on various factors like experience, knowledge and more.
For example, if there are two investors (one beginner & one experienced), the experienced investor will be given more voting percentage than the beginner. If the project fails to meet the expectations of the Bitdepositary team, then it will be eliminated on that stage itself. And, it will never be passed on to the community for voting. This kind of voting system will eliminate the possibility of ICO scams. Not only that, all the project owners need to undergo a strict KYC verification process before submitting their projects on the platform.
In a nutshell, Bitdepositary acts as a mediator between the investors and the ICOs to improve the level of trust and transparency. To access the Bitdepositary platform, one needs to hold their proprietary Ethereum based ERC20 tokens named BDT. These tokens will be sold during their token sale event. Kindly visit https://bitdepositary.io to learn more information about the token sale.