Another ICO that exists out in the market today is one that goes by the name of ICO Pass. According to its website, “In a matter of minutes ICO Pass verifies authenticity of person’s ID documents, does a face-matching, checks Sanction lists and the country of origin & residency.” It basically aims to build a collection of verification and information gathering tools from certain customer service providers.
When one analyses its positives one comes to the conclusion that it evidently can be applied onto real cases in the real world which will definitely pull investors to it because of its general appeal. It also provides services that cater to the smoothening out of the way data is gathered or collected and at the same time providing those very services to customers with a simple eight step KYC process. Moreover, if one goes through their white paper one would find a workflow chart that evaluates and explains to the investor how they are going to go about achieving the goals they have set for this project and that is always a huge plus point when it comes to ICO investment as one needs to know what they are getting into. Furthermore, the parent company behind it is more than recommendable with it being partnered with UBS, Swisscom and CreditSwiss.
When it comes to the negatives, in a market where many ICOs have managed to gather for themselves a certain name and popularity, ICO Pass has failed to do so, even with their organised stream of thought and well thought out goals. Moreover, the goals that they aim to accomplish are seemingly international in nature, however, the team seems to be originating mainly from Latvia, being highly localised in nature. They may not attract investors from Asian or American countries. If they aim to go global they need team members that reflect that, otherwise they might just be left behind. Thirdly, even with its five million dollar hard cap, they do not offer an option to burn unsold tokens after the sale. They would simply be redistributed. Another point would be the fact that another ICO already exists, one by the name of Traceto, and they have already gained a greater popularity compared to ICO Pass with the only downside being their hardcap which is a bit high.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyse and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.