Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Qfellow Program Incentivizes Cryptocurrency Enthusiasts to Weed Out Fake ICOs

Posted on juni 11, 2018 by Blockchain News

Launched in August 2017, ConcourseQ has conducted strict due diligence for hundreds of Initial Coin Offerings (ICOs). Now, it is offering cryptocurrency enthusiasts an opportunity to safeguard the rest of the community from dubious ICOs by surveying Qfellow reports.

ConcourseQ and Qfellow

ConcourseQ first started its Qfellowship program in 2017. The program was open to all members of the cryptocurrency and blockchain community and candidates were selected after a detailed process. The platform was established with the sole purpose of providing investors with a sound analysis of upcoming ICOs.

Since inception, the platform has warned investors by flagging 171 ICOs, publishing 15 editions of “Terrible Token Tuesdays,” and has even shut down two fraud Icons – Moirai and Cvent. Applicants admitted to the Qfellowship program are paid $350 worth of Ethereum each month. Notably, a significant percentage of the members are experienced in the blockchain sector.

The Deceitful World of ICOs

The rapid rise in valuation of bitcoin and other cryptocurrencies in 2017 resulted in several companies launching their ICOs. Initially meant to be the cryptocurrency equivalent of an Initial Public Offering (IPO), several ICO firms lacked concrete business plans and, in some extreme cases, a working team.

After a series of exit-scams and fraudulent ICOs coming to light, regulators across the globe stepped in, ranging from the Japanese Financial Services Agency (FSA), Canadian Securities Administrators (CSA) and United States Securities and Exchange Commission (SEC).

The authorities warned investors on the perils of ICO investing and appealed for conducting thorough due diligence research on such emerging projects or be prepare to lose their investment. Furthermore, authorities noted the price of cryptocurrencies and tokens are inherently volatile and do not have price limits levied in the traditional sectors.

ICOs vs. IPOs – The Great Contrast

ICOs are widely regarded as the easiest fundraising procedure. While issuing a token is reasonably straightforward, conventional IPO are tedious and involve tremendous legal formalities and paperwork, such as the 400-page long Red Herring Prospectus. Additionally, a company takes between six months to a year to fully-compliant.

In stark contrast, ICO firms companies outline their plans in a white paper, give the number of tokens they will release and quote a price of the token in a cryptocurrency.

In case an IPO is undersubscribed, the shares cannot be burnt. However, if an ICO fails to reach its cap, firms commerce with “burning” their tokens and drastically limiting their circulating supply. However, compared to the centuries-old stock market, the ICO industry is still nascent, and the few bad players are minuscule in number to the teams working on genuine products.

The post Qfellow Program Incentivizes Cryptocurrency Enthusiasts to Weed Out Fake ICOs appeared first on BTCMANAGER.


Source: BTCManager.com
Original Post: Qfellow Program Incentivizes Cryptocurrency Enthusiasts to Weed Out Fake ICOs

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Europese waakhond richt zich op crypto-advertenties op sociale media
  • Amerikaanse rechtbank dagvaardt Binance CEO Changpeng Zhao
  • SEC’s methods in treating crypto are outdated, analyst says
  • Amsterdam verwelkomt Web3 Revolutie tijdens de Dutch Blockchain Days Conferentie 2023
  • AmazeWallet: The world’s first Web3 smartwallet

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • juni 2023
  • mei 2023
  • april 2023
  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme