As ICO’s are popping up the crypto markets are in dire need of something real as ICO’s are failing at an alarming rate.
In February 2018 Forbes reported that more than half the ICO’s of 2017 have already failed.
It turns out that skepticism was well warranted: cryptocurrency news site Bitcoin.com has surveyed last year’s ICOs and found that of 902 tracked by TokenData, 142 failed before raising funding, and another 276 failed after fundraising.
That’s a 46% failure rate — but wait, there’s more. Bitcoin.com found another 113 projects that it calls “semi-failed,” because their teams have gone off the radar or their community has withered away. Add those, and the failure rate jumps to 59%. Bitcoin.com says the total funding of failed projects from 2017 was $233 million.
Full story: – Cryptocurrency ICO’s collapse
So why does this happen?
No RCS as stated in the headline – Nothing Real
The problem is that most cryptocurrencies do not offer any real-world use cases and those that are touting use cases are either hyping it up or the use case has not been proven. There seems to be a major gap between POC [ Proof of Concept ] and an actual working project.
One cryptocurrency that is bucking this trend and is already working in several products is EOT [Encryption of Things] and with the IoT Economy on the brink of exploding the future looks rosy for a currency that is not only a fast payment system but also has some RCS..
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What is EOT – Encryption of Things?