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Vitalii Ovechkin

ICOs reviews


I am a crypto enthusiast since 2013. The revolutionaly vision of Satoshi Nakamoto attracted me and I tried BTC mining. But the concept of PoW to be done to approve transactions showed that this is not the best way of spending resources and I see the future in more ecofriendly concepts like PoS, PoA and so on. I think that blockchain will bring the benefits that we never saw before. The transparency and endurance of blockchain make possible the cheap insurance, microloans, getting rewards for sharing anonymously your data about health, places of visit and puts control over your data. It opens the new horizons for p2p, b2p, b2b economies.
Being the part of cybersecurity association I learned that blockchain meets all the demands for the secure and stable systems. Its decentralized nature makes it resistent to hacker attacks and provides the continuous access to immutable data in any part of the world. From the other hand it grants access to the data only to authorized users and keeps personal data safe.
As the former representative of science park and advisor to some start-ups I see the huge potential in ICOs as the mean of crowdfunding the start-ups that previously couldn’t be realized because of the lack of finances. From the other hand it opens the possibility to people who are not familiar with stock markets to easily invest in projects that they think will bring a new advantages for humanity and of course will bring profits to them as for early investors.
Despite such benefits there are big risks to be mislead by fraudulent ICOs that appear like mushrooms after the rain because of the huge hype around the term “blockchain”. Even if the ICOs were organized not with a fraudulent aims there is a huge amount of projects that actually doesn’t need the blockchain and work perfectly without it. In this case if people invest in such ICOs there is a great probability that they will loose at least the part of their investments if not all.
So, I see my role in attracting people to the projects that are useful for the society with the good outcome for investors and filtering projects that by my understanding don’t have future.
From my point of view the core values of any project are in: experienced team, usefulness for the society, prominent technology and vision.
So, keeping this in mind I was an early investor in BTC, NEO, IOTA, Tron (TRX), Electrify.Asia (Elec), Ambrosus (Amb).
About my recent decisions of investments I can say that I believe in IOTA because of their technology that is beyond the blockchain. They are solving the problem of scalability and creating the feeless economy in IOT. This create new opportunities for humanity as we will see the economy of things, when devices will be able to pay for services by themselves. I choose Tron because they are going to change the way how our data and data that we create is owned. They will move the ownership from big corporations to ourselves. Electrify.Asia improves the energy market in such a way that customers get the cheapest energy and energy providers can manage by their facilities in the best way and this increase their revenue. The aim of Ambrosus project is to ensure that products and medicines are not counterfeit and are not spoiled because of bad storage, wrong conditions of shipment etc.

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