Experts

Definition of blockchain technology.

Blockchain is being touted as the most disruptive invention since the internet itself. This year, it's likely that blockchain will quickly evolve from existing, theoretical buzzword to concrete tool.

The blockchain is essentially just a tool with which you can store transaction data (database). And the tool can’t itself be obviously good or bad.

Initially, the blockchain was (and still is) the basis of Bitcoin. All blocks are built in a chain, so they are connected with each other. To write a new block, it is necessary to read the information about the old blocks.

All data in the blockchain is accumulated and form a constantly updated database. With this database, it is impossible to remove or clean the replacement/substitution of the block. And it is" unlimited " - an infinite number of transactions can be recorded there. This is one of the main features of the blockchain.

There are two types of blockchains:

• Public
  Blockchain is an open, extensible database. This kind of blockchain is used in the crypto-currency Bitcoin. Each participant can write and read data.
• Private
  This type has restrictions on writing/reading data. Can set the priority of the nodes. A subspecies of the Private Blockchain – blockchain exclusive. In such a chain, a group of persons engaged in transaction processing is established.

Application of blockchain

There are many areas of application, the main thing is that there should be a deal or interaction, partnership. Therefore, Bitcoin and Litecoin are working on blockchain technology now, banks are actively looking at the blockchain (in the autumn of 2016, Bank of America and Microsoft announced the beginning of the development of a financial blockchain platform).

The first real deal with real money also took place in the autumn of the same year - the Israeli start-up (Wave), the British Bank (Barclays) and the Irish dairy producer (Ornua) held a letter of credit for 100 000 dollars. And if earlier the process had taken a week or more because of the bureaucracy and verification of all documents, then thanks to cryptography and automated verification everything took about four hours.

ICO and blockchain

The development of the digital economy leads to the emergence of new technologies in many areas of human activity, including new ways to finance projects and innovations. Many people feel the results of the digital economy development:

• simplified the relationship between the seller and the buyer
• disappear intermediaries in the chain of goods-money-goods
• e-commerce and e-payments are actively developing.

ICO (Initial Coin Offering) is a way to attract investments into the project by issuing special tokens — analogous securities on one of the blockchain platforms when companies enter the IPO (Initial Public Offering) or issue bonds. The token can be a share in the company, its debt obligation or the owner's right to use the issuer's products. In the future, tokens are traded on specialized crypto-currency a exchange, which provides the investor with the opportunity to exit the company and fix profits or losses.

The company's ICO starts with providing the public with information about the funded project:

• technical aspect
• applied technology
• authors and owners of the company
• methods of decision - making in the company
• potential product market
• business plan of the project and its financial model.

The ICO is carried out on blockchain platforms, where the initiator of the project issues tokens, investors purchase them for the digital currency, and the initiator converts the received digital currency into real (Fiat) currency for the implementation of the declared project.

To make your way to launch your ICO easier we make ForICO listing of current ICOs. It can help you to select top ICO projects and explore their way of market entry.

The market of cryptocurrencies and ICO is constantly growing, and accordingly the bar of quality of projects for effective entry into the industry rises. Against this background, there is a need to involve an external consultant who could give useful advice on all aspects of the ICO. Such third-party consultants are called ICO advisors or ICO experts.

About the experts.

Blockchain development is already the second-hottest skill in the job market. Blockchain is quickly going to become an integral part of many — and perhaps some surprising — business models. No matter your field, there's a strong chance that blockchain will one day have an impact on how your organisation conducts its day-to-day processes.

The definition of “ICO expert” gives a clear understanding of what the specialist of this position is doing – he advises ICO developers on various issues. At the same time, its scope may include both individual issues, for example, technical or marketing, and full support of the project – from its creation to Fund raising and closing.

It is worth noting that ICO advisors in 99% of cases are those people who have already had some experience and positive fame in the industry. For example, you want to create a new messenger and for this as an adviser invite Pavel Durov, who gives his recommendations and evaluation of the work done.

The reality is that the blockchain and cryptocurrency space doesn’t have many if any real experts. Things are changing too fast, and technologies are also new. Some individuals have in-depth knowledge, but this is by no means common.

How to choose right person?

There are two crucial questions. How can a project choose the right ICO advisors or blockchain experts? How can you evaluate current advisors or experts that are part of a project you are looking to participate in?

When evaluating an ICO advisor or blockchain expert, there are five indicators you should analyse. If you’re a founder or investor, the following list will make it easier for you to determine if a candidate is the ‘real deal’ or not:

• Experience
  Our listing contain all the necessary information about expert’s website, LinkedIn and Facebook profile, portfolio, and a list of references.
  You need to look deeper into prospects profiles.
  For ICO advisors, don’t necessarily look for people who have experience assisting projects do an ICO. Look for someone who has experience and expertise in your particular industry (e.g., healthcare, gaming, finance, etc.)
• International exposure
  An advisor or ICO expert with international exposure could help a project navigate the complexities of international regulations and other issues that must be overcome when operating internationally or expanding into new markets.
• Network
  An advisor or expert with an expansive network that can get leveraged is very valuable to a company as they can help achieve many business objectives.
  These could pertain to marketing or publicity or could be technology related. It could also be purely to improve a project’s access to the best talent in the industry. So, instead of only focusing on the potential financial benefits an advisor or blockchain expert can deliver, look at less tangible aspects as well, such as industry relationships.
  In ForICO listing below the main information about the expert you can find a ready-made selection of the projects in which the expert participated
• Refferals
  There is no better indicator as to whether an advisor or blockchain expert is fit for the job than a referral from a previous project. Beyond direct references, it’s also important to ask the blockchain and cryptocurrency community and any personal connections you may have, to see if any names are getting passed around. Good advisors will usually have built up a strong reputation, and their name will be known and passed on by projects
• Publications
  For blockchain experts, check if they have contributed to any research or white papers. Maybe they have a Medium blog or LinkedIn profile where they share their insights. Read their ideas and get a sense of community reaction.
  If an ICO advisor or blockchain expert has taken the time to create content, or been directly involved in research, it is usually a good indication that they are the real deal!

ForICO service provides to you an opportunity to check all these points in one place. We create a system of filters, using them give you speed advantage.

In general ICO advisors are directly involved in the preparation of the white list. They work in direct connection with your technical specialists. Advisors assess the legal status of your token by conducting a Howie test. They give recommendations on the choice of legal position.

ICO experts must study and adjust the economic components of the token. If it lies in the plane only of your benefit, there is a chance that the responsible specialist will simply say goodbye to you or insist on making changes to the structure of the coin

Advisor involved in your project can become the basis of your marketing company. Investors tend to trust professionals who have a good name, and good advisors will never take on a project with a bad reputation or questionable prospects.

Now you should to make a few simple steps. Go in ForICO community, choose right expert and start your ICO.