EOS ICO working against its own objective
Introduction
We were all waiting in anticipation to participate in EOS ICO until the ICO on itself started. I went to the website to participate but after reading the technicalities of participating, I told myself the honest truth that I could not do it.
I have seen different ICO design but this one is extremely complecated. We all know when the Mobilego ICO was done and many more ICO that everyone could participate in. For most of those other ICOs, you just have to send your crypto coin to the prescribed address after registration and your token will be for you.
The EOS Token ICO is not exactly like that. It is different. Very complicated process of participation.
EOS Token For Everyone
This is one aspect that got me attracted to the EOS token even before the ICO started. Apart from being championed by a visionary leader, @dan, the design and ICO plan was meant to accommodate everyone.
Going from what I read about the ICO, It was designed to last long so that many people can buy into it. They wanted the EOS Token to be evenly distributed and thus very decentralized. However, without them knowing it, the technicalities of participating in the ICO has not afforded many people like me the opportunity to participate.
For an ordinary investor who does not know much about the blockchain technicalities, investing in EOS ICO is not an easy task. You need to be a tech geek especially someone with blockchain knowledge to participate in this ICO. If you just send your coin anyhow as you would do with many other ICO, you could lose your money.
EOS ICO Technicalities
To say that the ICO participation is highly technical is actually an understatement. Indeed, it is technical and that is not helping the purpose of getting majority of crypto investors to participate.
Considering that a lot more people are getting crypto-aware now and are coming in to invest in cryptocurrency, this type of ICO should be made to be as easy as ABCD in terms of how to participate.
An ICO of this class, targeted at the people, should be made in such a way that the people it is targeting will be able to participate.
What you have now is such that only the people who have the technical knowledge to go through the process are the ones participating. This will not give rise to the level of decentralization desired.
Implication
Many people will rather buy EOS token from exchange at a higher price than go through a process they are not sure they can complete to avoid loosing money.
What you have now is that those that have the technical know-how to buy into the ICO is making a kill. The reason is not far fetched. The price of EOS token in the market is skyrocketing because ordinary people without the technical know-how will rather buy from exchanges than put their money in ICO they are not sure how to navigate fully.
Recommendation
The promoters of this ICO should look at it again and find a way to simplfy it such that ordinary people with simple knowledge of cryto can invest.
A portal can be created for people to participate with their email, web wallet address and stuffs like that.
Someone can be dedicated to now follow up and make purchases for people who register through the portal and deposited money. This can be shared to them through their ethereum wallet address.
I want to know how you feel about this article. If you have found a way of buying EOS that is easy please kindly drop the procedure using the comment box.
Thank you.
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