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Fledgling businesses preparing to unleash the “killer app” in decentralized tech are raising funds with ease. But which are worth taking a closer look at?
Blockchain, Applications, ICO
Everyone, from banks to Blockchain taxi startups, is convinced that 2017 will see the long-awaited global entry into decentralized tech.
Beyond Bitcoin, alternatives like Ethereum’s smart contracts and Ripple mean that the applications for this new world of innovation are practically endless.
No surprise then that fledgling businesses looking to unleash the “killer app” in the field are raising funds with ease. But which are worth taking a closer look at?
Cointelegraph’s initial coin offering (ICO) roundup provides a look into some of the more interesting projects slated for funding in 2017.
Melonport, described as the “Google of Blockchain,” is a protocol built on Ethereum allowing setting up, managing and investing in “digital asset management strategies.”
With the already giant number of places to invest cash in Blockchain tech this year, Melonport attempts to provide a one-stop shop for managing those investments.
The sale of its token, Melon (MLN), begins Feb. 17. 1.25 mln tokens will be created in total, but not all will be available at once.
“Anyone will be able to easily set and up customize a portfolio,” Co-Founder Mona El Isa explains in an informational pitch.
The project is being advised on by Ethereum Co-Creator Gavin Wood.
Aiming to use Blockchain’s openness to tackle the empowerment of the billions of people shut out of legacy banking, Humaniq begins its ICO mid-March.
More of an infrastructure project than a business one, the startup will also use Ethereum to create a Blockchain bank where no one is excluded. Even its GUI is based on symbols, ensuring those who have difficulty reading still understand what they can do.
“We’re incentivizing their participation by rewarding them with tokens for performing various activities, such as completing registration, inviting a friend, etc.,” creator Alex Fork told Cointelegraph in an interview last year.
“Gather enough tokens and you can exchange them with a virtual cashier for real local currency. With this currency, they can begin making purchases and generating real economic activity.”
On the subject of empowering the unbanked (or just underbanked), Git Money uses Bitcoin to allow anyone to earn drip-feed style income by solving other people’s problems.
Users put their skills to work in a free marketplace and are paid in BTC for fulfilling tasks set by other users. Rather than a mad scramble for jobs, a daily email details what needs to be done.
Like the remaining projects we’re listing here, the date of the token sale is yet to be confirmed.
EtherEx is aiming to produce a fully decentralized cryptocurrency exchange built on Ethereum smart contracts.
The high-profile hacks of Bitcoin exchanges in 2016, along with associated criticism from prominent experts such as Andreas Antonopoulos, means that a more trustworthy solution for bonafide trading will be eagerly anticipated.
“EtherEx will be an open source, non-profit, next generation decentralized exchange,” the project website promises.
The ICO is forthcoming but interest is already high. ConsenSys, WeiFund and Augur are among the companies already signed up to use EtherEx once it launches.
Sometimes an industry niche needs a healthy dose of competition, and Augur’s comes in the shape of Gnosis.
The decentralized prediction market may be beaten to the launch pad by its older competitor, but Gnosis’ reputation already precedes it.
The platform can be used to make “complex” predictions on a whole range of events, with one project concentrating on pre-auction artwork selling figures.
“Having a continuous stream of information on fundamentals, and more accurate models using conditional markets will hopefully result in more efficient markets and less shock,” Gnosis explains.
10 mln tokens will be released.
It is likely the range of ICOs will grow exponentially in the coming year and beyond. However, for those early birds looking to take a small leap of faith while the economy is still finding its true identity, the offerings above are well-placed to become household names.
If you think there's a project that should be on the list or which you think deserves more attention, tell us and start the debate in the comments section below.
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