Contest CLOSED
Hi everyone,
As you may know that I was organizing contests beginning of this year. However, the rewards were not very big, as I was mostly paying from my own funds and got very little support. Therefore, I had to stop the contests.
Now, I have brought to you a sponsored writing contest where you can earn handsome rewards :).
As always, the purpose of this contest is to motivate you to stay in Steemit, reward you for your efforts, connect you with other Steemians, spread positivity and promote a healthy, pleasant environment on Steemit.
So let's get started...
Initial coin offerings (ICOs) have raised $3.88 billion in 2017 and $12.57 billion this year, according to coinschedule. The startups issue their ICOs on the blockchain (commonly Ethereum) to raise capital. ICOs can be utility tokens or security tokens. Utility tokens grant holders an access to the company's products or services. They are not designed for investment thus are exempted from federal laws and regulations. An example of a utility token is Filecoin that has raised over $250 million by selling file tokens, and the service/ product they provide is decentralized cloud storage platform.
Security Tokens, in contrast, are subject to federal rules and regulations. These tokens are designed for investment purpose and can be traded on exchanges for FIAT or other cryptos. The holders can also be entitled to company's dividends.
Mobu
When launching a security token ICO to legally raise funds, the ICO owners face lot of obstacles and challenges in the form of strict rules and regulations and complicated technical procedures, which makes the whole process not very smooth and friendly, and can also derail the project in case of failure to abide by the regulations.
Mobu is a next-generation smart contract and self-regulating decentralized platform for launching security token ICOs and raising capital while providing KYC, AML and SEC approval, smart contract deployment and escrow services. As with decentralized system, Mobu aims to connect the investors and security tokens ICOs by cutting out the middlemen. Business owners with non-technical background can securely launch their ICOs on Mobu platform at reduced costs.
Security tokens created and issued in Mobu platform can be traded on decentralized exchanges only by verified and authorized users, thus providing maximum security to both the investors and the token issuers.
The escrow services provided by Mobu will allow the investors to exit the ICO after the crowdsale in case they find that the token issuer does not adhere to the goals or roadmap of their ICO project.
Mobu smart contracts will be utilized on Ethereum but can also be used on other blockchains. Mobu platform will be powered by Mobu tokens that are core utility ERC-20 tokens. For service providers, Mobu will introduce lockup utility to Mobu tokens which will allow the company to submit a defined number of tokens on Mobu platform that will be 'locked up' or inaccessible for as long as that company remains a service provider on Mobu, thus increasing the token intrinsic value and demand.
Token Distribution
LINKS
TASK
Write in your own words what a security token is and what type of problems are being faced by the businesses that aim to raise funds by issuing security tokens. What is the difference between security and utility tokens? Give one example. Also, how Mobu will facilitate the release of security tokens on the blockchain and what solutions does it offer to protect the investors.
Think outside the box!
RULES
- Your writing should be original; you can use the Mobu website and the whitepaper but don't copy paste and don't forget to add all the sources you used at the end of your article.
- Pay special attention to the format.
- Maximum words : 1000
- Write in English.
- Create a separate post. The post should start as follows: "This is my entry for the sponsored writing contest organized by @monajam. You can find the contest here". Link to this contest must be provided in your post.
- Title of your post should include "205 Steem Dollars Writing Contest- My Entry"
- Drop the URL of your post in the comment section below.
REWARD
- 1st place - 30 SBD
- 2nd place - 25 SBD
- 3rd place - 22 SBD
- 4th place - 20 SBD
- 5th place - 19 SBD
- 6th place - 17 SBD
- 7th place - 15 SBD
- 8th place - 12 SBD
- 9th place - 10 SBD
- 10th place - 5 SBD
- 30 Honorable Mentions - 1 SBD each
DEADLINE
20th July 2018 - 10 PM UTC