Connect with us

Altcoins

AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

Published

on

AZ FundChain
READ LATER - DOWNLOAD THIS POST AS PDF

Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver on them, and many don’t.

There is also a bit of an information disconnect.  The “crowd” does very little research into these businesses that use crowdfunding.  They may read an online pitch or video, and perhaps do some general industry research, but not much more.  On the flip side, look at venture capitalists and how much time they spend doing this exact same thing but on a much larger scale.  And VC’s lose on most of their investments.  So, will the public do better?  Unlikely.

AZ FundChain Application Offers a Compelling Solution

FundChain is a decentralized, transparent and reliable money circle and crowdfunding application running on the blockchain.  The application, with its native currency (AZ), offers many benefits as compared to the traditional model of crowdfunding.  Those benefits include the following:

  • Accessibility and Intuitive User Interface – The application is available on both iOS and Android which makes it available to nearly everyone.
  • Social Aspect, User Profiles, and Credibility – FundChain’s goal is to eliminate the asymmetric information and financial losses that occur because of negligence. With FundChain, in order to participate, participants will assess each other with regard to their reputation scores.  These scores can be seen by all which improves credibility.
  • Deposits/Withdrawals – Participants can deposit and withdraw via ETH, USDC, or ERC20 tokens. This is especially important as it offers an opportunity to reach unbanked communities.
  • Transparency – Because FundChain is built on blockchain technology, the application is fully transparent.  Funds can be traced and reputation scores are shown.  In addition, smart contracts work in a sort of manager role.

FundChain excels at understanding the problems associated with traditional crowdfunding and developing solutions to deal with those problems.  The above benefits are just a few of the many offered by FundChain.

AZ Token Sale

AZ Token will serve as the fuel behind the FundChain platform.  The token will have continuous demand as it will be bought back from the open market through transaction fees.  The company started the public sale of tokens on March 1 and the ICO is expected to last 30 days. The minimum required investment is $10 and each AZ Token is worth roughly $0.63 USD.

Summary

There is no doubt that crowdfunding is the way of the future.  But given all the problems associated with it, the industry is in need of serious change.  AZ FundChain is a promising application that offers a great start toward disrupting the industry and helping to better align incentives and risks for both businesses and funders.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

Published

on

Encrypgen
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Altcoins

TRON (TRX) Is Likely to Go Big in June

Published

on

Tron
READ LATER - DOWNLOAD THIS POST AS PDF

We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

Continue Reading

Elite