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What excites me most about ICOs is how accessible it makes organization. To get a group of 10 people to work on a common goal and share the reward is surprising
by smokeyj 9y ago
What excites me most about ICOs is how accessible it makes organization. To get a group of 10 people to work on a common goal and share the reward is surprisingly difficult. The overhead of the legal and accounting costs makes it a non-start for anything worth less than a multi-million dollar venture. But what about all the opportunities below that? Local shops, gardens, and service based businesses?
I'd like to see a set of standardized smart contracts, where if you adhere to the protocols of the contract, investors can enjoy the benefit of certain expectations. Such as, the cap table being accurate. The distribution of shares will be known, along with the voting power of all members. The flow of income and payout of dividends will also be transparent.
If complying with regulation is cheap and accessible more people will do it. I'd like the SEC to open a github account and create regulatory compliant smart contracts. Let's welcome everyone into the business class and encourage local investments in our communities. That's my vision for ICOs at least.