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What is Crypto Currency?
When Disneyland opened its gates in 1955, access to its then 20 rides was granted on the basis of tickets purchased at a limited number of locations in the park. Rides were not available for dollars or cents – you had to have a ticket! Since money was exchanged at just a few secure locations, safety was enhanced. The incentive for theft of actual tickets was minimal, since tickets had no value outside the park. [Interestingly, as time progressed, E-Tickets were exchanged for goods and services – or even cash – on a small scale, making them a “de facto currency”. See the discussion below…] And early purchasers were rewarded – as the price of tickets escalated over months and years, older tickets were still accepted, thus making older tickets more valuable than when they were purchased originally.
Tickets were denominated as “A” thru “E”, with so-called “E-Ticket rides” being the most exciting and sought-after, and also the most expensive. To this day, the term “E-Ticket ride” is a wry euphemism for exciting or challenging experiences.
CRYPTO CURRENCY IS NOTHING MORE THAN E-TICKETS, ROLLED FORWARD TO THE 21st CENTURY!
[Those of us “of a certain age” remember S&H Green Stamps – arguably also a prototype for Crypto Currency!]
Initial Coin Offerings – A Totally New Paradigm
Initial Coin Offerings – ICOs – resemble nothing so much as the ROLLOUT of Disney’s ticketing plan. In an ICO, a new crypto currency is issued that will be used in payment for a service to be delivered in the future. In today’s world, we use cryptocurrency, but it’s remarkably similar in concept to an old-school Disneyland ticket, updated for Internet and digital use.
Specifically, cryptos are generally secure, available from a limited number of places, and targeted at a specific opportunity, in the same way that a Disneyland ride or attraction was the only thing for which E-tickets were ultimately usable. Incidentally, the term “Token Generating Event” or “TGE” has gained considerable traction as an alternative to the term “ICO”. Initial Coin Offerings [“ICOs”] are a fascinating new way to obtain funding for startup enterprises.
As Disneyland became popular, E-tickets were given as gifts, sold privately outside Disneyland, and otherwise quasi-monetized. So too, as the currency issued for a specific ICO becomes popular, a traditional financial secondary market will emerge.
Are you a Crypto Geek? – Check out… Crypto Currencies are fungible securities… (Read more)
What Is an ICO White Paper, Anyhow?
Every business needs a Business Plan. That includes crypto coin based companies.
A key element for all ICOs is the White Paper, a detailed document explaining to interested parties what they need to know about the ICO. If you were born before about 1990, you’d have simply called such a document a “Business Plan”, the term we’d all been using for hundreds of years. Today, and in the ICO / TGE space, it’s called a “White Paper”. Go figure.
The term “White Paper” used to mean a detailed statement of position on a highly technical subject, like satellites or space travel, and tended to come from places like the RAND Corporation or the Pentagon. Today, think “ICO White Paper = Crypto Coin Launch Business Plan”, and you’ll be on target.
Given the ease with which ICOs can be launched, the potential for misuse of this very useful funding vehicle is obvious. For that reason, regulatory bodies around the world have created compliance ecosystems to protect investors.
A modern ICO’s White Paper is both a sales document and a compliance document. It answers all relevant questions about the ICO, and does so in accessible language.
ICO / TGE White Paper Quality REALLY MATTERS
Our Principals have written White Papers [and equivalent documents known by different names] in multiple disciplines for over 40 years, and have written 8 ICO White Papers. Please contact us to discuss your requirements
We’ve been there… Let us help YOU in YOUR launch!