In the beginning of September, the Chinese national central bank banned all initial coin offerings. According to Xinhua news agency, over $400 million was raised in coin sales this year so far. This made officials a bit cautious as Chinese risk averse approach to capital management and distribution has long been their strategic preference.
To comment on the topic we invited Gintaras Tamosiunas, a former member of the Parliament of Lithuania and currently CEO of TokenDesk, the biggest ICO platform. Also, a member of the Bitcoin Foundation.
China Indicates Future Success
We have a certain breaking point these days when we speak about China, its economy and general trends of innovation development and acceptance. As a number of analysts have already outlined – the most successful Western, mostly US-based internet companies are banned from Chinese market. To mention a few, Youtube, Twitter, Facebook and many more were banned almost instantly they expanded overseas, to China specifically.
What followed later clearly indicated that the ban itself only meant that initially China wanted to test how people respond to innovations. Getting a positive feedback on the major ones showed great potential which, instead of being left for corporations for abroad, was directed back to Chinese business developers. This way we now have Baidu, Wechat and many other examples of how they converted Western ideas to the Eastern market, says Gintaras.
And indeed it is an insight that keeps proving to be very precise over and over again. There are tens if not hundreds of major business cases worth billions of dollars that were adapted and recreated from within China.
Blockchain – Next?
Initial coin offerings this year will certainly hit a record that was not anticipated. Or at least not as much was expected when to this day it has already reached over $2 billion in token and cryptocurrency sales. And the process is not thinking of stopping anytime soon.
Technological advancement must pass over the initial stage of resistance. Especially that applies to industries, highly connected with money and business processes. Blockchain is a perfect example of how a laughing matter Bitcoin five years ago became current industry benchmark with all the value attached to it.
The biggest ICO platform business case is in a similar situation. However, the timing for TokenDesk is much more convenient as many other ICO publishing projects lack one, well thought out concept to unite the market. On the first day of the token pre-sale reservation over 1000 investors have already secured their share of TokenDesk. It made TDS tokens one of the most desired so far.
“Like any other concept of grand innovation, like artificial intelligence or gene engineering – they all were around for ages. However, only currently they tend to make first seriously progressive steps towards what has been in people’s minds since long ago. TokenDesk platform is the one that is going to standardize and unite the ICO market. I have spoken to many ICO publishers and they all weren’t getting the perfect service of any currently existing competitors. It’s just not there yet. But not for long.” states our guest.
Trust is Scarce
Gintaras has also shared some insights of what will make TokenDesk not just the biggest platform but also how. One of the main points for success in this industry is trust. Keeping assets in blockchain is safe but only if you do it right.
TokenDesk is a member of Barclays Rise Vilnius hub of technology and innovations. This is the place to be in Vilnius for all major tech companies, like Revolut. Earning trust and getting advices from the market leaders is one more fact that leads a business to success.
The main founders of TokenDesk are well known entrepreneurs, launched and developed a great number of successful projects. One of such being www.bilietai.lt – the biggest ticketing platform in Lithuania and its subsidiaries in Baltic states. Multimillion dollar company with a track of success since the foundation of it. Maintaining and expanding business like TokenDesk needs excellent skills and management support which they certainly possess.
TokenDesk has partnered with one of the best law firms on the market – Avocad, the member of CICERO (international league of lawyers). This is essential to show our investors and future ICO publishers that we take things seriously and will not leave any space for uncertainty. Both, investors and publishers are not safe these days due to lack of regulations in general market. We are setting our own benchmark as an attempt to set the right tone to stop the grey area speculations.
Smart Contract
In addition to the previous statement, a smart contract will be used by TDS token holders community and trusted experts to rank all ICOs on TokenDesk platform. That is another form of preventing scams and guaranteeing strong support for the right ideas.
TokenDesk will be performing the token repurchase program. Every quarter, 12 percent of net profit will be dedicated to buy back TDS tokens which will then be burned by smart contract. This will be performed in order to increase their value and liquidity as a way of appreciation to the investors.
TDS tokens will be listed in Kraken, Bittrex and BitFinex exchange platforms.
Evolution of the ICO Market
We are looking at the dawn of a real revolution of financial, governmental processes. A great number of other industries will follow. TokenDesk will lead this shift with its most powerful platform for initial coin offering.
I take the fact of ICO ban in China as a perfect timing to make and execute my plan for TokenDesk development. High focus on blockchain products and financial decentralization put our product to the first in line for success. We look closely at the signs and patterns of the past to predict our future. These bans and increased attention to stop current Western initiatives in China rise the flag of a huge potential. It doesn’t need to be China as a market (and won’t be, at least for now) but it is good enough to put things to work.
TokenDesk platform has started its token pre-sale reservation program. This will give you a chance to jump on a train and get a piece of action if you be quick eanough. Limited time offer is available with 55 percent off of the initial token price as well.
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