Modern business is driven by online activity and networking. How can you use Instagram to get a business lift? Find out..
The Power of High-Quality Content on Instagram
Every success-focused entrepreneur needs to have an Instagram profile that can be of benefit in various aspects.
Most newbies set up an account but then get confused about what they should post on their profile to keep the followers engaged.
There are various ways to enhance your Instagram following and we are going to present you with some easy and convenient ideas to help you with that.
This is moreso as we all might know that the Instagram algorithm favors good content that actually attracts customers.
The platform also provides you an opportunity to create and nurture your relationship with the audience and help to convert them into customers.
Therefore, it is necessary to create quality content that blends different types of ideas to appeal to your online followership at different stages.
Keep in mind how your posts can
affect your audience while going through the following points:
1. Product Display
Probably the best way to start is by
showing off the products you want to sell. Pictures, videos, and content
related to the products will be a good way to advertise your business and will
also generate traffic to your page. Be creative with your content and add some
You can post solo pictures of the
product or make them a part of a lifestyle photo. You can also avail this as an
opportunity to promote your product by highlighting its features, benefits and
2. Product Tags
Product tags give detailed information about the product and how to purchase it. This not only saves the time of your customers but also make it convenient for them to make a purchase through their mobile gadget.
There is a greater chance for users to follow through with your account due to the products tags.
3. BTS Glimpse
Your followers love to have a peek at behind-the-scenes (BTS)content.
This not only creates transparency but also makes your customers feel like they are a part of your actual life behind the brand and are interacting with the real you, making them more comfortable with you.
4. Live Sessions
Make your followers feel important and valued by interacting with them through these live sessions. This will help to build a stronger and trusted bond you will value.
Try to announce that session beforehand so that your trusted audience is aware of it. Give them some time to join in and find a place with good light for your video. Make a plan and practice what you are going to say in your video.
5. User-Generated Posts
Posting a user-generated content will have a positive impression on your customers, showing them that you are engaged with the community.
This is a good way to promote your business in a delicate and highly effective manner.
6.New Products Announcement
Updating new information about your product launch or business milestones through your Instagram account with interesting visuals is also an effective way to achieve the purpose.
It not only gives you valid content to share but also make your customers feel connected and updated about their favorite brand.
7.An Instagram Contest
Creating a contest will create a hype about your brand among the users and will generate more traffic for your goods and services.
This can even help you with innovative user-generated content. Select a prize more relevant to your target audience to get an actual engagement from your customers.
Making videos is important to
gain huge popularity on Instagram. Create content that is unique and
interesting. It could be vlogs, Q&A sessions, product tutorials, success
An easy way to get popularity among your followers is to showcase your involvement in some events related to your business.
These are digging into your personal interest and what you like to do in your spare time and researching about the existing market trends.
Others include popular products, looking into common complaints people have about famous products and try to find a business way out of it. You just need an idea to get started.
Authenticate Your Idea
This might sound a bit difficult but
is a necessary step because if you don’t know the validity of your business
idea and whether or not people are willing to pay for it, you cannot move
forward with the idea.
You can validate your idea through
various ways like opening up a store to take preorders for your product or
service, a crowdfunding campaign, direct customer feedback and many more.
Get an Appropriate Name
The name of your business represents you and your product. Use your imagination to look for a unique, short and clicking business name.
A strong business name will be simple, short and original but different from others that will click customers mind and leave an impact.
Devise a Business Plan
Writing down your business plan helps
you out to formalize the ideas and help you streamline everything in proper
Understand Total Cost
The ultimate goal of every business is to earn money so you should know the basics of business finance and money flow in businesses and the market.
Get the proper idea of how much you are investing, will it be sufficient or you need more funds, what turn out you should expect, etc.
Developing the Product to be Launched
After a deep analysis of everything, your next focus should be your product or service you are going to offer.
While developing your product keep in view that stats like what is your cost and what should be the selling price, what profit you would earn from it, etc.
Business Structure Selection
Carefully pick your business structure
that balances your legal and financial protections. A business structure
influences every part of your business whether it is about personal liabilities
or taxation operations.
Sort Out the Legalities
Properly research the laws and
regulation related to your business and product or service. Every area has
different legal requirements that you need to follow in order to stay out of
Set Up a Software System
To help you reduce the work burden you can always set up a software system to assist you in various tasks.
There are various software systems available for accounting, email marketing, project management, and much more. You just need to look properly.
An appropriate business location
depends on the type of product you are going to sale, how much space you will
need for the inventory, whether or not offering in-person sale, and other
things like that.
Planning Team Size and Workload
This is one of the crucial steps that will also affect your timelines and investment for the business.
Planning to do all the work by yourself will help you reduce the cost but will take more time of yours. Therefore it is important to plan your strategy carefully.
After working on all the above steps
now you are ready for the final step, i.e. launching your business. Focus on
making your first sale and for that, you have to attract customers.
Promote your outlet through your network and free channels available or use test paid ads service. You can also offer some discounts to attract more customers.
Starting a new business is easy but making it successful is a challenging task.
However, with the nuggets above, you can transform your dreams into reality.
found that the low internal correlation between some of the cryptoassets can be
due to three major reasons:
factors: These are the project-specified catalysts and news that can affect
the level of correlation between cryptoassets.
Effect: Usually the digital assets that are listed on Binance have a high
correlation between them, whereas, the assets that are not listed have low
correlations compared to the former.
Mechanisms: The consensus mechanism of cryptoassets can have a high impact
on its correlation with the other cryptoassets return.
The overall correlation in the cryptoassets market has observably increased. It can be due to the gradual decrease of the market’s Bitcoin dominated trading pairs reliance or the simultaneous rise of the volume of stablecoins across all cryptoassets markets.
The correlation cycle among cryptoassets and the effect that market structure can have on this cycle is discussed further in the following:
1.Cyclic Moments and Turning Points
One of the factors responsible for the continuous fluctuation of the correlation among the USD price of cryptoassets is market irrationality. The market rationality has a similar effect as the co-movement phenomenon or herding effect.
Studies show that when the correlation among altcoins reaches a specific point, the Bitcoin trend for USD either reverse or comes to a halt at the previous price. This indicates the emergent market’s inherent traits as well as the irrational behavior of the market participants.
However, it is very early to say that there is some causal relationship between market reversals and peaks in correlation.
2.Disproportional Percentage Of Retail Investors
The frequent extreme correlation periods of cryptomarket are related to the highly retail-driven participation of the market. According to the recent data, almost 700 crypto funds are operating in today ‘s cryptomarket, but the January 2019 asset was thought to be $10 billion only.
Assuming that all of them hold only Bitcoin, the total upper bound of the Bitcoin market value will be 14% only. But if Altcoins are also included, the overall institutional proportion for the cryptoassets market can become even less than 7%.
It can be said that non-professional investors can become overtly cynical or overconfident while reacting to market trends. And that can lead to a high potential transactional volume and more volatile prices.
Whereas, crypto investors are more attentive and active towards new developments in the market, they have a significant impact on the success of their participating crypto networks and promote their voice to get heard, even through simple price action.
3.HODLing by Crypto Investors
HODLing refers to the phenomenon of the crypto investors where they prefer to HODL their assets when there is a decline in price until the prices are recovered.
And they become active when the high prices are restored. Most crypto investors tend to HODL the currency in bear markets that lead to moderate changes in UTXO cap.
But the UTXO cap decline can go steeper if the individuals transact with Bitcoin at comparatively low USD value prices. Not to ignore the fact that after a certain bear period, the rate does not go up that quickly, until at least the underlying rates reach the previous heights.
Herding behavior effects are situation specified. The initial correct information will cause a herding effect to reflect the information more quickly in the price.
Comparing this to
the traditional market, the cryptoasset market has faced several issues during
tits small lifetime, like:
-There is a lack of popular trading instruments of the market, an absence of a compulsory mechanism of disclosure that should be followed by all the market participants, and inadequate protection measures. All these factors lead to a reduction in the enthusiasm of the investors.
-The highly complex blockchain industry has a high barrier for new entrants. Also, there is a lack of professional and reliable media sources that leads to slow transmission of information and even extensive fake news dispersal.
-The limited arbitrage channel is another problem. The inherent limitation of cost of the mainstream coins or speed of transfer, temporary paucity of appropriate derivatives and an in-depth, and regulatory restrictions imposed by many countries lead to asset prices stymieing for a long time period in an unreasonable state.
However, the cross-exchange arbitrage chances were seen to be decreased during 2018, resulting in a higher price efficiency.
Because of the above-mentioned aspects, the effect that quick reacting market participants have become more distinct, making it more difficult to price the individual cryptoasset accurately.
Therefore, the herding behavior or so-called irrational attitude must not be blamed only on the inexperienced participants, but the market immaturity and infrastructure should also be on the front burner.
2018, many regulatory bodies, media outlets, and research institutes have
started to pay more attention to the blockchain industry. Also, there is a wave
of crypto-native research and coverage growing with every passing day.
developing industry has been able to attract new support and funds from various
traditional and governmental capital sources and seems to continue doing so
with every new step of improved data, news reliability, regulatory clarity, and
less usability friction, which leads to a market with more efficient price
discovery as a whole.
Various ongoing and completed researches and studies provide enough data to analyze and assess the progress of the space during the last few quarters.
As many mature financial products get rolled out, which covers the industry, there is a clearer worldwide regulatory framework, which means a rapid maturing of the crypto market than ever.
Gb Adolph Obasogie is the CEO of Harrison Global Capital
A funding nod is a business newbie’s dream come true. With funding, you can get your business off the ground and make things happen.
Funds are the
livewire of any business, and a failure to generate any could spell doom for
many. There are many ways to raise funds in today’s world, and not the least, crowdfunding
is a unique option to explore.
What is Crowdfunding?
Crowdfunding is a fundraising strategy for entrepreneurs and it serves to authenticate the demand for their unique ideas in the market before even starting the production.
The candidate presents his idea to the crowd who, if interested in it, invests in that idea collectively through pre-order buying, investments and even donations.
Crowdfunding is different from the traditional fundraising methods as it doesn’t focus on a single entity for the sake of investment rather multiple small amount investments are contributed by a large group of individuals.
In exchange for this support, these investors, also known as ‘Backers’ are provided with various benefits including:
The opportunity to pre-order the product and
have the authority to give their opinion in its development.
A personal link to the founding team of the
The chance to become one of the early adopters
of the upcoming product.
Exclusive offers, like a massive early discount
at the product launch.
crowdfunding site has different features, like user base and fee, etc. but the
core concept is same. You submit your proposal with a goal and deadline and
then do online promotion of your campaign, usually through social media.
There are various crowdfunding sites, but we have shortlisted the 7 best of them. Take a look and it will help you to decide which site to choose for the fundraising of your next project.
Launched in 2009, Kickstarter is the most popular and reliable crowdfunding platform to get support for your innovative ideas.
Till now, this platform has funded more than 156,000 successful projects and raised almost $4.1 billion.
It supported different projects like movies, physical products, games, etc. This is basically a reward-based platform where backers are offered exclusive incentives in return for their support. The more a backer invests, the better is the reward for them.
Kickstarter has an all-or-nothing strategy that means you are given access to your raised funds only when you achieve your first fundraising goal.
In case of failure, all the money stays with the backers. Therefore, you will find only unique and high-quality projects here.
Another highly reliable crowdfunding platform is Indiegogo. It supports all types of projects just like Kickstarter but is different in certain aspects. Above all is its feature of the flexible funding goal.
It is up to you whether you choose a fixed funding goal or a flexible funding goal. With flexible funding goal, you will continue to get your funding even if you have not achieved your goal within the deadline.
Another unique and beneficial feature is the Indiegogo InDemand that allows you to raise funds even after your campaign has ended when you are getting ready to complete the order or are in the production phase.
This unique platform is especially focused on modern creators like bloggers, musicians, cartoonists, YouTubers, live streamers, etc.
This site is specially designed for Internet personalities to run their campaigns and get support from the loyal audience through paid memberships and generate revenue.
You can choose your customers to pay on per month and get special community perks, or on per project basis so that they could give you more incentives for your creation.
If you are a regular creator and have a considerate number of online fans, then you must not delay creating a Patreon page.
4.Crowdfunder (Shopify app)
app helps you to raise revenue in its simplest form, i.e. by taking pre-orders
as a method to keep your idea validated side by side and fund the production.
The platform can not only be used to raise fund for new product ideas but also help generate money for a cause, and even helps to launch old limited run-products.
If you already have a Shopify store and are willing to launch a new product, then it will be easier for you through this app.
This crowdfunding platform is completely free but is limited for individual supports and generating money for a cause.
As the platform is used usually for personal causes so the backers tend to choose projects of their interest or within their personal networks or to which they are quite familiar.
Though this platform is not for commercial campaigns if you are a small business owner and are going through hard times, you can start a campaign to get help on a personal basis.
The Fundable is
associated with Startups.co and is one of the top sites that has allowed
startups to provide equity or reward in exchange for funding.
Startups either offering rewards or equity is highly beneficial for fundraising purpose, as long as you have a solid business plan, a track record of growth and a pitch deck.
It charges a fixed amount of $179 per month in the duration of active campaigns, instead of a specific percentage of the funds.
At this equity
crowdfunding platform, to create a public profile and deal room in order to
invite investors you need to buy a per month plan, starting from $299 per
But to create a non-public profile you don’t need to pay anything. The network has more than 12,000 capitalists and investors with whom you can connect and raise the capital you desire .
Crowdfunding is just the first step towards a whole new process of convincing people and raising money for your project.
It takes a lot of effort, preparation, and luck to achieve your goals. With the options presented here, you a breath away from your funding goal.
The news made ripples, as often happens in the crypto world whenever any mid to large-size established company jumps in.
TD Ameritrade started a formal crypto division. While the move was somewhat expected, since it had already invested in crypto exchanges, news still left many people wondering: what does this mean?
What is TD Ameritrade?
In order to know
whether this move matters or not, we first need to know the company we’re
TD Ameritrade is a long-established American broker. With almost fifty years in the market, its mission is to help customers both buy and sell all kinds of stocks, funds, and futures.
In other words, Ameritrade is a very large stock trading house, one with established success in the business.
While this might look as just another financial company trying to break into crypto, the type of company matters a lot this time around.
As we have mentioned in many of our articles, the crypto world is a lot like the stock market. Crypto exchanges, and many crypto investors, work in more or less the same way stock traders do.
So when a company renowned for stock trading options joins in, it can’t but be important. The fact that such a company is jumping into cryptocurrencies means two things:
Its managers see a future to cryptocurrencies,
They feel the market has settled and is stable
enough that they can start offering their expertise without risking much.
Both of these
things are huge, since many traditional economy-related businesses have shunned
crypto, and at times even outright tried to sabotage it.
But TD Ameritrade trades in
many things, doesn’t it?
TD Ameritrade works both as an exchange of sorts and as an investments company. Its goals aren’t just to commercialize stocks and values, but to help those looking to invest find the right things to invest in.
To attain this, it offers customers several both premade and customized portfolios containing mixtures of stocks, funds, futures, and now crypto its team of experts consider good investments.
The advantage of these services are huge for clients who don’t know the stock market inside out. With Ameritrade’s guidance, they can choose where to put their money following the advice of leading experts in the market.
This helps minimize, although not eliminate, the risk involved in investments.
TD Ameritrade also offers many specialty plans dealing with managing both one’s own finances and one’s economic future. Customers get help not only investing, but also managing their properties and assets. TD Ameritrade thus seeks to help its customers optimize their own portfolios.
For more knowledgeable customers, it also offers personalized portfolios where they can choose exactly what to invest, although always while receiving advice from professionals in the area.
How important is this for crypto? Is it important at all?
In a way, it’s
One of the main problems with cryptocurrencies is driving adoption. Many people who have thought of investing in crypto have found the whole blockchain-related environment much too confusing.
Even people who are used to trading in the stock market can feel taken aback when talking about private wallets, public wallets, wallet keys, nodes, mining, and so on.
With this move, TD Ameritrade is allowing its customers to invest in cryptocurrencies without needing to know all this.
It’s also offering professional guidance in the process, both to minimize the risk any newcomers face and to help them understand how the crypto world moves.
What this means for the crypto world is that as of now millions of accounts managed by Ameritrade can jump into cryptocurrency investments.
This doesn’t mean that many people will, or that they will even display any interest in it, but that they have the option to.
In other words, there’s now a simple way for people not in the know to invest in cryptocurrencies.
So is this a game changer? Is
mass crypto adoption about to happen?
Let’s slow down.
entering the market is big, yes. But not necessarily as big as to drive mass
adoption on its own. This is but another step towards that goal, but there’s
still a long way to go.
we don’t know how many of TD Ameritrade’s customers will actually invest in
crypto. For all we know, Ameritrade might roll out this platform only to have
it fail to attract any relevant interest and become just another offering with
relatively low adoption rates.
opposite might happen. It’s always possible Ameritrade’s customers will be
thrilled to hear they can now invest in crypto and rush to their services,
causing the beginning of a new crypto rush that drives all prices up and leads
to a golden age of cryptocurrency.
Whether this is true or just a comment to hype up the crowd and help drive adoptions we can’t know, although it does mean the firm is expecting their new program to do well.
So, to be honest, we should keep our expectations tempered about this. It’s a big thing simply because it marks a new household-level investment company joining the crypto world.
This means trust in the market is growing, which at the same time means we’re one step closer to mass adoption. It also will help drive more crypto adoption, but you shouldn’t expect it to cause a rush.
Can I buy any crypto I want
with TD Ameritrade?
No, you can’t.
TD Ameritrade, and most brokers, will only trade in select stocks considered by their experts to have relatively low risk.
While it does have high-risk offers, they’re usually offered only to clients who specifically look for them, and even then, they tend to come from already curated lists that ensure a certain degree of predictability.
This is because Ameritrade, as any brokers do, wants its customers to have some success in their investments.
It doesn’t look good for a broker to have many clients who end up losing their investments, particularly if they count the elderly among their main demographics.
So even when offering “risky” investments, TD Ameritrade will want to limit the risk.
market, as we know, isn’t particularly stable. Any crypto investments offered
by Ameritrade will be considered high-risk right away, due to the
unpredictability of the market. Allowing customers to invest in about any coins
will only make it worse.
That’s a ridiculous number, and making customers browse through such a list trying to understand what each of them is and get a grasp of the risk involved wouldn’t be an option for any brokers.
Also, the vast majority of those cryptocurrencies would make for really awful investments nobody would ever recommend even to their worst enemies.
In the spirit of
making it easier for their users to understand what they’re getting and to
avoid them going bankrupt, TD Ameritrade is for now only
offering Bitcoin and Litecoin.
Is there any logic behind these
Yes, although it
might not be the kind of logic most crypto users would follow.
Bitcoin is there mostly because it’s easily recognizable. Also, because it’s been relatively stable over the past year, with a tendency to rise the last couple months. But most of all, people know about it.
General media often uses “bitcoin” to mean cryptocurrencies in general, and while most people might not know what Ethereum or Ripple are, they do have a grasp of what Bitcoin is. After all, it was all over the news just a year and a half ago.
indeed unstable, outdated, slow, and it will never become the crypto for
widespread use. We know that. But many of the people looking into crypto will
go straight for Bitcoin, because that thing was once worth almost $20,000 each.
Also, Ameritrade is offering crypto as an investment solution, meaning users getting it through them will mostly be parking it.
They won’t buy and sell stuff with it, since that’s not the goal its customers are after. Since Bitcoin is well-known and has kept a stable price with a tendency to rise this past year, it’s an easy choice.
As for Litecoin, it has been on the market for long, has a decent price record, and once again has been rising this last year.
Being a fork of bitcoin, it also isn’t likely to ever attain mainstream use. But once again, this is investment. These people will see it as a value, not a proper currency.
The fact that
Bitcoin’s value is mostly based in expectations and isn’t actually tied to
anything other than public perception doesn’t matter either. As long as its
value keeps going up, people will want to invest in it.
Will this affect the market?
It sure does.
Part of Bitcoin’s rise over the past two months can be attributed to this, among other things. BTC is currently experiencing a bit of a renaissance thanks to several projects being launched around it.
The fact that the crypto market is quickly growing into maturity and BTC’s price is basically an indicator for public trust in crypto also helps.
Should we expect this rise to
We can’t tell. There are currently actors predicting another BTC rise, along with a rush to $50,000, but the last time such a thing was predicted it was quickly followed with a crash once the bubble burst.
Since bitcoin’s nature is that of a bubble, it’s better to remain wary of any extremely positive predictions.
It might even not be in the crypto world’s best interests to have Bitcoin grow too much, in fact. BTC is known for being outdated, and the sooner another, newer crypto takes over the market the better.
BTC reaching a ridiculously high price will make this very, very difficult – which would in turn make widespread use and adoption of crypto about as difficult.
On the other hand, BTC creating another bubble and bursting would be even worse. Crypto already had a terrible 2018, and it’s only now recovering and making it to the news again.
Another quick price drop would erode public trust in crypto in general, which would greatly slow down general adoption for crypto.
The best we can expect is for BTC to keep rising… a bit. And then stabilizing. A stable market is a requirement for widespread adoption and use.
People can’t trade using a coin that’s constantly changing its value, after all. BTC stabilizing would help bring stability to the market as a whole, which might lead a few high-profile companies to start accepting some cryptocurrencies for payments.
If enough of these companies do so, we’ll start seeing widespread use of crypto.
Adolph Obasogie is the CEO of Harrison Global Capital. Get firsthand info from email@example.com
Rideshare needs a redefinition, and blockchaincan make a difference.
The Need for a Blockchain-Driven Ride Share
Anybody with a smartphone and one of these company’s application can easily communicate with logged drivers to order for rides that correspond to the routes of operation of that particular driver.
It is general knowledge that ridesharing has gradually crept into our lives and culture and become integrated into our daily movement and way of operation.
The application network serves as a platform to develop a sense of responsibility and trust between the drivers and the passengers.
There are now companies that have risen above order and serve as the frontier for this industry. Companies like Uber and Lyft have erupted in popularity and financial alike.
The Multi-billion Dollars Business
Typically, companies like Uber and Lyft has become household names and risen to the status of top brands and companies to be reckoned with around the world.
They are the top players in the space of ridesharing, with Lyft being valued at $15.1 billion and Uber valued at about $72 billion.
Those are large chunks of market share and these platforms have weathered the storms of criticism until now.
Although opposition to ridesharing services has come under the light of skepticism in functionality and structure, more needs to be done.
Uber, for example, being banned in major cities around the world like Barcelona, Vancouver, Frankfurt, and some other cities.
The major antagonists to ride share service companies have been Public transport services and Taxi companies, as ridesharing takes away a large chunk of their consumer market.
Although right now, is not an only taxi and public transport companies that they have to be cautious about because they are on a route to being out of the market by new innovative companies using Blockchain technology to revolutionize the space.
These big companies hence face a giant hurdle in terms of Blockchain technology and how it can seriously hurt their business model.
What Does Blockchain Do?
Blockchain has become quite popular in today’s world probably because of bitcoin and it’s outrageous pricing in 2017, but let’s talk about the blockchain framework itself.
So, blockchain offers a decentralized, open, and distributed ledger that records transactions between two entities inaccessible, retrievable and permanent fashion.
Each of this growing transaction is linked to one another using cryptography. These transactions are extensively secure and usually do not require the third party and hence are more cost-effective.
They could be much cheaper than traditional ridesharing platforms and therein lies the punch that could potentially knock out the big players like Uber and Lyft.
How Blockchain can Influence Ride Share
Talk about a disruption much like the Internet did in the late 1990s or the airplane by the Wright brothers in 1903.
Blockchain is here to stay and is currently reshaping and redefining the ways people view and understand companies & industries today.
The ridesharing landscape is not left out on the list of industries being disrupted. Of course, the only major hold back for now is worldwide adoption of Blockchain and cryptocurrencies.
These companies, Uber, Lyft, Wings & Sidecar operates a centralized system. They are actually called Aggregators because what they do is, they serve as intermediaries between the drivers and potential customers.
The customers or passengers order for a ride on the company’s application on their smartphones with specific directions and the company supplies a list of drivers with different ratings for you to select from.
Then you choose the driver and pay through the same application on your smartphone.
The company then receives the money, take a percentage and pay the driver. Hence these companies serve as a centralized site for the linking and completion of the transaction.
They usually have the software, routers, and servers for reception and distribution of these orders.
What the blockchain framework can do in this space is to eliminate the middlemen or intermediaries, in this case, being Uber, Lyft, or Wingz. Blockchain creates a decentralized ledger that stores transactions securely in blocks.
And each block having a time stamp of the previous one so that they are linked, and one cannot be accessed without going through the other. Hence, this provides a fortified and impenetrable network.
Due to the fact that the data is not stored in one place but dispersed through a network of computers, there is no aggregator or centralized unit needed.
Providers of driving services can simply provide a profile of the routes they cover ratings by previous customers, charge, and connect straight to passengers on the blockchain platform
The passenger can request a service, then the Blockchain platform could filter according to the categories and produce a list from which he can choose from.
Although there are still some touches to be added to this model before it becomes functional. But it’s a highly better alternative to the traditional.
The transaction or payment end can be done through the peer-to-peer payment technology already built into the system.
Regulation of Ride Share Companies
These rides share service companies have come under heavy criticism to be regulated by a designated government body.
Reason being that there has been reports of cases where drivers have assaulted and been violent toward passengers, there has also been much talk over the inspection of Uber vehicles to ensure the safety of users of the platform and insurance coverage of the vehicle.
Also, there is the fee that the companies deduct from the payment before paying the drivers.
All these can be highly minimalized with blockchain as there would be little or no charges as the transaction would occur directly between the drivers and passengers, and there would be more stringent measures to monitor insurance covers and the general safety of Users.
It is certain that the ridesharing space is going to disrupt as the full adoption of Blockchain services begin to play out in the coming decades and traditional rideshare service companies need to take note of this or else they would be out of business by this force.
Blockchain-driven rideshare service is going to be a plus to the services being offered and hopefully, will be the change that people want to see.
IEOs have emerged as the successor to ICOs in a number of ways. What are the areas of difference if any?
What Is an Initial Exchange Offering (IEO)? Is It the New ICO?
The Initial Exchange Offering(IEO) has been making headlines while catching the attention of investors, traders, exchanges, and project teams following Bitcoin value decline and the ICO fad cool off in 2018.
In 2019, already 32 of the 47 IEOs listed on ICObench have launched while the completed IEOs having raised over $159 million.
Currently, some of the best cryptocurrency exchanges platforms such as Binance, OKEx, Bitmax, Huobi, KuCoin, and Bittrex have already conducted their own IEOs.
And after launching, the majority of these IEO’s have shown much promise after being listed on the exchanges.
What Is an Initial Exchange Offering (IEO)
An initial Exchange Offering is an improvement of the ICO concept that is conducted on a cryptocurrency ecosystem.
Different from ICO, the cryptocurrency exchange administers the IEO on behalf of the token issuer looking to raise capital with its new tokens. These tokens are later listed on the cryptocurrency exchanges.
Unlike the ICO where the investor deals directly with the startups, in IEO, the risk of transactions are transferred from the investors to the exchanges.
This innovation helps to eradicate the chances of phishing, and DDoS among other malicious attacks.
The startup or the token issuer agrees with the cryptocurrency exchange on terms such as fees, and issuance volume and price among other factors.
Investors are then allowed to buy the tokens directly from the cryptocurrency exchanges after completing the KYC procedures.
What are the advantages of IEOs?
A successful IEO has the potential to raise millions for token issuers, investors, and trading platforms. Here a few advantages of IEOs.
Trust is one of the major advantages of IEOs. Usually, the crowd sales are conducted on the crypto exchange platforms while the counterparty seeks to screens all the projects looking to be launched on its website.
According to cryptocurrency exchanges, these steps are essential in maintaining a good reputation. Therefore, IEOs can help to eradicate major threats such as scams and dubious projects from raising capital.
Security is of paramount importance, especially when dealing with money. With IEO, the safety of both the investors and the issuers is prioritized.
When it comes to crowdsale security, the exchange manages the IEO’s smart contracts as well as the KYC/AML processes. In most cases, services providers do KYC/AML on their clients after creating their accounts.
Token issuers do not have to worry about crowdsale security as the exchange is managing the IEO’s smart contract.
The KYC/AML process is also handled by the crypto exchange as most service providers do KYC/AML checks on their participants.
Besides that, investors’ security is not compromised since the exchanges get rid of all ineligible projects that potentially pose risks to investors.
Regardless of your knowledge in the cryptocurrency industry, you can freely contribute and participate in the IEO platform.
● Guaranteed Exchange Listing
IEO tokens on the exchanges enjoy near-instant listing soon after the launch.
Cryptocurrency exchanges carefully get all their token issuers to guarantee the quality of their offerings. To maintain their reputation, exchanges can only list credible startups.
This means that these startups have to undergo intense diligence which highly reduces the chances of startups being unveiled as scams.
Upcoming and recent IEOs
A number of IEO tokens launch have already taken place, and still, there are other ongoing and upcoming IEOs in the market.
In fact, only time can tell how far the IEO fad will go. You will note that each of these projects focuses on unique offerings.
● Matic Network
Matic Network is designed to solve the problem of scalability on today’s Blockchain network applications. It launched on Binance exchange recently.
For instance, scalability is said to limit the ability of developers to optimize their dApps(decentralized applications) fully. This will help and encourage developers to earn cryptocurrency with dapps.
Besides improving the scalability of cryptocurrency platforms such as Ethereum, Matic network aims at improving the speed of block confirmations which will in return reduce gas fees.
The network is further designed to help simplify and make the user experience of the Blockchain network user-friendly.
Here are a few of the Upcoming IEOs in the market today. ● Traceto.io
According to the traceto.io developers, this project is aimed at building a solution on the KYC segment in the crypto market.
The traceto.io team plans to make use of a combination of smart contracts and artificial intelligence to come up with a solution that will streamline the KYC process.
Evedo project is aimed at leveraging the technology in event organizing. In other words, Evedo is designed to bring together all the users that make up the event organizing ecosystem.
How to participate in an IEO?
Currently, IEOs are relatively rare in the market unlike the number of cryptocurrencies on the economy.
However, it’s not difficult to find the right one. So, the first step at participating in an IEO is identifying the IEO of your choice.
Secondly, identify the cryptocurrency exchange platforms that are hosting the crowdsale. Note that, there can be more than one exchange, but you only have to choose the exchange that fits your needs.
After identifying the exchange of your choice, sign up for an account. You will go through their whitelisting and Know Your Customer-KYC procedures.
Additionally, since IEO uses cryptocurrencies to raise funds, check the cryptocurrencies that the exchange accepts and fund your account appropriately.
You can use trading bots to buy the allowed cryptocurrencies if you aren’t familiar with the crypto industry.
Lastly, wait for the IEO to launch for you to purchase your token. Most exchanges allow you to use various cryptocurrencies such as Bitcoin, Ethereum, and Dash among others.
Below are some exchanges that have already launched their IEOs.
Initial Exchange Offerings might to the solution to many ICO failures, scams, and sub-optimal projects offerings.
Binance, together with other cryptocurrency exchanges are aiming at using the IEOs to guarantee a safer working environment for both issuers and investors.
IEOs will also increase the growth of cryptocurrencies for global financial market by expanding the market scope and the level of trust.
Indeed, IEOs have the capabilities of becoming a standard model for future startup fundraising while encouraging the development of quality projects.