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Binance Launchpad keeps faith in token sales as a maturity in the blockchain industry
January 3, 2019 by Jon Southurst
Binance Launchpad – the platform designed to make token sales more accessible to the public and help raise capital for blockchain startups – is showing confidence in the initial market for coin offerings (ICOs). The popular exchange announced today that it plans to list new token launches almost every month in 2019, starting with BitTorrent and Fetch.AI.
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Launchpad hopes for greater legitimacy in ICOs and token sales
Sales of ICOs and tokens may not be the hype machine they were in 2017, but that does not mean the concept has disappeared. Instead, companies (including Binance) are taking a more rational approach to technology, clarifying the legal issues related to what investors are buying and trying to avoid disillusionment for short-term pump-and-dump token fundraisers .
According to Binance, Launchpad "helps transformative blockchain startups to raise money needed to develop their products and gives them access to the Binance ecosystem Binance considers its efforts to Launchpad as part of the company's broader mission in favoring the adoption of cryptocurrency ".
Companies applying for Launchpad listings must complete a verification process, during which they provide professional legal advice that the tokens they are offering are not security. Binance itself also performs due diligence on the projects it accepts. This involves researching the backgrounds and expertise of team members, and examining whether projects are scalable and creating products that benefit the cryptocurrency industry.
Good for technology itself and for investors
By increasing standards for token projects in general, Binance will not only retain a certain image for blockchain technology, but will also support an industry that generates a lot of its income.
The CEO and founder of Binance Changpeng Zhao (a.k.a. "CZ") described him as such:
"In 2019, Binance's Launchpad will help launch projects that serve the entire global cryptocurrency ecosystem as a whole, to the benefit of people around the world, bringing distinct token sales to the Launchpad platform is part of our ongoing efforts to create a safer and more open token launch environment, opening a healthier market in 2019 and beyond. "
It is probably appropriate that one of the first token lists for 2019 be BitTorrent. The company represents another useful technology that could use a more legitimate audience after years of negativity on the part of the press and traditional officials.
BitTorrent (the company), affiliated to the TRON blockchain network, intends to collaborate with content creators to promote and distribute their work on the Internet using its P2P technology of the same name. The blockchain version, with its BTT token, hopes to provide incentives for users to seed the files they download and also create the overall user base.
The other project listed, Fetch.AI, is (as the name suggests) an A.I. decentralized. and "intelligent ledger" based on the automatic learning that houses various autonomous economic agents (EEA). EEAs can act independently of human action while representing individuals, companies and devices.
The same layer of the ledger is designed to interact with these agents to share information previously silos, linking needs with opportunities. The company describes its platform as "the missing critical infrastructure for tomorrow's digital economy".
Blockchain a (hopefully) becomes more serious
CZ said the projects met the Binance requirements for real-life use cases and proved to have arrived with competent teams and existing products.
As the Internet industry, decades before, many founders of new blockchain projects are trying to avoid gimmicks and rapid enrichment schemes. As the understanding of technology advances, the same applies to its potential – in the directions where many ICO riders of the past years have never even considered.
Are the blockchain, cryptocurrency and token projects ready to move on to the next phase? We hear your thoughts in the comments.
Images via BitTorrent, Fetch.AI, Binance, Pixabay
