When it's so easy that any 20 year old backend dev can issue a token, you should already know that no ETH-based app should be worth more than the same business model applied to a fiat currency.
When it's so easy that any 20 year old backend dev can issue a token, you should already know that no ETH-based app should be worth more than the same business model applied to a fiat currency.
Ding ding ding, winner! So many of these just have no point in being as companies, let alone as a token.
At The STC, we're going to end sex trafficking in just like Apple and Amazon (and now Google and Spotify) ended music piracy. To operate, we must be an extrajurisdictional company which makes cryptocurrencies a useful way to get investment and pay dividends. But we're not going to issue tokens -- only shares. Ethereum will help us keep track of share ownership and allow easy trading, but we're not a "blockchain company".
I hope we see a new wave of post-ICO companies using these technologies as a means to an end, not an end in and of itself. We're probably leaving money on the table by saying that and not hyping up tokens and tech. Oh well, we're going to create a valuable business instead.
Our main founder has had this idea for a while. But it wasn't until last year that cryptocurrencies showed they're going to be around and usable for non-geek users. This is crucial as it allows us to contract people (marketing, design, photography, transport, security, boarding, and on and on) without having to run risky front businesses to handle money or try to convince people that this strange internet coin money is useful.
The ICO craze annoys us because it blinds people to the real possibilities. It is our belief that within the next few months ICOs will need to measure up to ventures like our own and show true profit potential or at least some commonsense business fundamentals.
I can explain more in private (details in profile), or shortly we'll have more public details available and I can send you a link if you like.
But suffice to say that in the cities we operate, we will end up putting a significant dent in coerced sexual services.
The project is a from-scratch smart contract blockchain: including a new contract language