What Is An ICO?
Crypto currencies are not physical coins or paper money but digital currencies known as utility coins or utility tokens. Digital currency values are derived from their ability to make purchases and be traded. An ICO or Initial Currency Offering involves the first issue of crypto coins to various participants. It is generally the first phase of a more detailed and elaborate project that is based on blockchain technology.
Should You Buy During An ICO?
Crypto community members participate in an ICO for various reasons. Some members seek profits whereas, others could be keen to support the underlying project that it represents. Other considerations include the solution to the problem the ICO intends to address. The experience and expertise of the project team and the technology deployed, can also encourage participation in an Initial Currency Offering. Few ICOs like the one conducted by GLITZKOIN, are a prelude to a detailed plan aimed at a specific industry. This project is focused on eliminating the problems seen in the conventional trading of diamonds. The objective is to build a blockchain that supports diamond trade and widens the market scope for diamonds.
Evaluating The White Paper
Always read the White Paper before participating in an ICO. The White Paper is where everything is condensed into one key document and it should be well written and clear to understand. It should also provide insight to the inner workings of the company including the quality and experience of the management and partners highlighting their quality and expertise. The White Paper should explain, at the very least, the underlying problem that the project seeks to address. It is also necessary for the paper to explain how, the utility coins or tokens can be used. The document published by GLITZKOIN clearly discloses the weak points in the diamond trading process. The implementation of a diamond blockchain will bring a host of advantages, transparency and wider market reach are some of the benefits. Make sure to read this important document and understand it. This information can be utilized to compare with comparable ICO’s.
GLITZKOIN has assembled a team of technical experts combined with tenured management professionals with decades of experience in the diamond industry. Moreover, they have widened the scope by going beyond the issue of crypto currency and intend to construct a diamond trade platform.