With every passing month, we’re introduced to hundreds of new potentially breakthrough ideas.
A large portion of the Bitcoin hype has recently transferred to intiail coin offerings (ICOs) – and it’s no surprise why. Many people feel they have missed their chance on the ‘Bitcoin boom,’ and are flocking to alternatives. As such, to these individuals, ICOs seem like the obvious choice.
Before you dive in headfirst and throw all your money into an ICO (which is definitely not recommended – no matter how great the idea may seem), it’s important that you understand exactly what kind of business you’re going to be investing in.
In particular: is this an existing business model that has switched over to blockchain, or is it an entirely new business model?
Investing in a brand new blockchain startup with a seemingly revolutionary idea can seem extremely appealing and exciting. However, it’s important to ask yourself: Can the team behind the idea actually execute, or is the concept just a little too far-fetched?
For obvious reasons, investing in a pre-existing business with a track record of success is likely to be a far safer bet than investing in a brand new business model with little more than an idea. And a business that has managed to finalize partnerships with reputable institutions, organizations and companies is also a solid candidate for an ICO investment.
Shping is a solid example of the latter high-stakes partnership acquiring ICO venture. Shping is a platform designed to make shopping smarter and more efficient. It combines a comprehensive product database with a shopper marketing and rewards platform that connects brands, retailers, consumers and other associated stakeholders.
Users simply scan any barcode using the app to learn what is in it, where it is from, and whether or not it is authentic. Users can even earn rewards for completing certain actions, such as rating products for the benefit of other users, writing product reviews, or completing questionnaires from brands.
One of the most exciting features of this decentralized platform is that it allows brands to channel their budgets to reward their users directly, instead of plowing billions into large third-party media giants like Facebook and Google.
But venture aside – adding to its credibility is the project’s high-profile partnerships including:
Australian Certified Organic (Australia’s largest organic certification body)
AsureQuality (owned by the New Zealand Government)
The National Farmers’ Federation (Australia)
Rosselkhoznadzor (Russian Federal Service for Veterinary and Phytosanitary Surveillance)
The Asia Food Safety Zone in Changchun (China)