At this point, it would not be far-fetched to postulate that ICOs are a thing of the past. In 2017, ICOs were believed to be sure bets, when it comes to making money. This is no longer the case. Today, ICOs are almost a sure way to lose money in the crypto markets. Most of them are either outright scams or pump and dump schemes that leave investors holding bags of worthless tokens. Clearly, there is a need for a new way to approach financing in the digital age. One of the most promising alternatives to ICOs is the ISO.
While ISOs were just an idea a short while back, they are slowly shaping up as the new way to source for financing in crypto space. This is all thanks to IOTA-ISO. This organization is not related to the IOTA foundation, but it’s doing big things in trying to actualize a solution that can fill the gaps that ICOs exposed.
Progress on this project is going on quite well. They are 51% through with the backend of the project, and 15% on the front end. So what exactly does IOTA-ISO aim to achieve? As per their website, IOTA-ISO is,
“… a global Crowdfunding Marketplace being built by a team of professionals in the IOTA community, we are not working for the IOTA Foundation but using their technology. Seeing the need for a smarter way to get startups funded than ordinary crowdfunding and the high-scam system called ICO, TomTom one of the founders of IOTA-ISO created a new system that is safer, more transparent, more predictable and has roll-back functions. Looking to make crowdfunding more fun and interesting, the team has set out to revolutionize it using the technology called IOTA and it’s Tangle.”
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