Understanding of ICO and Cubaaz
Added: (Mon Feb 19 2018)
Pressbox (Press Release) -
Better Understanding of Cubaaz and ICO
What is cubaaz?
Cubaaz is a reputable organization geared towards travelling worldwide, its primary aim is to facilitate any and all travels worldwide, it also focuses attention on cheaper, faster and more enjoyable travelling experience for customers alike; this is a jaw dropping innovation geared towards a remarkable travelling experience for everyone. Think Travel! Think Cubaaz!
Many people are unaware what the term initial coin offering means. However, if you know what a digital currency is, the premise is quite simple. Every project has to start somewhere, and also needs money to get it set up, and an initial coin offering is a great way to raise funds for these developments. A new digital currency is more often than not created by a team of developers who are looking to start a new project. They tell the wider community about this project using a whitepaper that contains all the key details and information in the hope that people will back the project and invest their funds in it.
Backers are usually investment firms who see some potential in the project, so they contribute money to help the new project launch. In return they will get a share of the initial coin tokens of the new currency, with the hope of the new project being successful and the tokens becoming worth more than the money that they have invested initially. This is a great way to fund a new project as not only is money raised, but it also helps to distribute the initial coins in an ordered and fair method.
The very first ICO in creation was in July of 2014, and was started by Ethereal. Although it was the first ICO in creation, to this day it is still the most successful, raising a staggering 18M to help it launch and then stay maintained throughout its life. People were drawn into this new type of technology, and everyone wanted the chance to get their hands on a piece of the newest and most up to date digital currency. Initially the project was described on whitepaper by its developer; a man named Vitalik Buterin, a developer who was already associated with bitcoin, so already had a firm interest in the market.
Since the very first ICO in creation was so successful in being funded and taking off, other developers soon also started creating, and many more ICO’s followed in the same year, with more and more appearing every year. The amount of ICOs available to fund shows no sign of slowing down in the near future, with multiple projects at a time requiring funding. Due to the huge demand of this new project now, it is hardly surprising that not all of the projects succeed. There are many that simply cannot get their name out there far enough for enough people to know about them. The less people that know about them, then the less chance there will be other people or businesses that are interesting in backing and funding them. Those that are successful however enable those that invested to make back their money, and also be able to include their own ideas in the development of the new digital currency.
The benefits of ICOs
ICOs such as Cubaaz Coin have the potential to be a powerful force in the development of open-source block chain technologies. ICOs could also prove to be a significant driver for financial access and inclusion by democratizing access to investments. ICOs are popular for multiple reasons.
For organizations who issue tokens:
Positive network effects: The ICO model generates positive network effects that can vitalize and strengthen decentralized applications that require numerous users (or operational nodes). Decentralized applications often feature significant network effects wherein the user experience for each user improves upon the inclusion of additional users. When an organization conducts a public and open ICO for the development of a decentralized application, the process can automatically generate a large user base that can sustain the operation, security and vitality of the decentralized network. If the users are token holders, they will be invested in the growth and success of the network.
Fast and easy fundraising mechanism: Anyone can initiate an ICO. Customized tokens can be easily generated. Transaction costs associated with marketing and contribution settlement are significantly lower than traditional fundraising mechanisms.
Primarily online marketing: Tokens can be marketed over the internet to a large, general audience. Potential buyers can learn about the ICO through the organization’s website, online forums, online messaging applications, social media websites and more.
Settlements over the block chain: Confirming contributions and distributing tokens simply requires monitoring and updating the distributed digital ledgers. This requires lower effort and resources compared to the traditional fundraising process of accepting checks.
A quick, easy and efficient fundraising opportunity
Just about anyone can set up an ICO, as customized token sales can be achieved through numerous platforms, including Ethereum. The costs associated with marketing ICOs and the contribution settlement are considerably lower than some of the other popular mechanisms used for fundraising. Not only that, but hosting an ICO is bound to consume less time.
They can strengthen decentralized applications
One of the main characteristics of decentralized applications is that the more users they have, the better their experience is. Therefore, by conducting an ICO, companies will surely see a massive increase in their user base, thereby sustaining the operation of the network or application in question.
With online marketing, the sky’s the limit. Therefore, tokens and ICOs can be marketed to a large, targeted audience with little effort. Potential investors can, therefore, find out about a particular ICO through online ads, the company’s website, social media, and more.
Pros of ICO
• Gives opportunities to promising projects: Think of what Ethereum has accomplished in the last year. From becoming the second most powerful cryptocurrency in the world to providing a platform for Cubaaz coin to create their projects. It is truly becoming the “platform where the future will be built”. All this got started because of an ICO.
• Community building: It gives the project creators an opportunity to build a community around their projects. Having a healthy community gives a product immense credibility. Plus, the members of the community can have real say in the direction of the projects and keep the creators accountable.
• Exposure for projects: The hype that surrounds an ICO can do wonders for the exposure of the project. The more the exposure, the more the people will know about the project. This increases the number of potential investors.
• Early access to potentially valuable tokens: Some tokens have the potential of becoming truly valuable cryptocurrencies such as cubaaz coin. ICOs give investors an opportunity to invest in tokens, with potential. E.g. during the Ethereum presale, 1 Ether cost 35-40 cents. Right now, as of writing, 1 Ethereum costs ~$1,104.
• Incentive for innovation: The roaring success of various ICOs over the last 12 months has given extra incentive to various developers to innovate and develop more exciting projects such as cubaaz coin.
However Cubaaz coin ICO is the next big thing for travelers alike. Do not allow this life changing opportunity pass you by, jump in and enjoy a wonderful trip powered by cubaaz coin.
USEFUL LINKS CUBAAZ ICO :
Website ICO : https://cubaaz.io
Whitepaper : https://www.cubaaz.io/wp-content/uploads/2018/02/WhitepaperV8_2010018-English.pdf
Twitter : Twitter.com/CubaazOff
Youtube : https://www.youtube.com/channel/UC9fyPtXCTJl8IrPwDO6tA0A
Instagram : https://www.instagram.com/cubaazoff/
TELEGRAM : https://t.me/cubaazoff
Bitcointalk announcement :https://bitcointalk.org/index.php? topic=2901119.new#new