There is no doubt that modern companies could also benefit from blockchain technology which includes creating of Initial Coin Offerings (ICO) for the purpose of fundraising, and also to utilize the various decentralized applications to solve human problems.
Many blockchain projects already allow companies to create their own smart contracts, increase file storage space and much more functionality with flexibility are added to the existing traditional method of conducting such business easily. The blockchain technology is booming day by day as traditional companies are harnessing its power for maximum productivity.
Large-scale organizations and enterprises could have a customized blockchain-based solution for the company’s operations because of the financial prowess and large customer base which would benefit from it. Lack of financial capabilities, legal and advisory complications shouldn’t deter small and medium scale businesses from benefitting in this fintech resolution.
For those companies that do not have the resources or the need to build their own customized technology to become a blockchain business, there are a growing number of solutions that seek to provide companies with the tools necessary to create applications without much technical knowledge. Some platforms tend to provide ICO related solutions to small and medium scale business amongst which is CHAINTECH.
It’s good and okay to utilize this ICO based organization but you must watch out against fraud. Some of the qualities to watch out in hiring a third-party to help out in shifting your business to the blockchain includes a standard website, physical address or contact information, government backing of the organization, detailed plan as relating to blockchain solutions, Promotion and engagement with investors for an ICO. Based on all this quality, we’d do an honest evaluation of CHAINTECH.
- CHAINTECH, with the official website (https://www.chaintech.biz/), is one of the many ICO related scam sites and as you’d see, there’s not much information on the website that will enable organizations both small and large to know the terms of operations as relating to ICO. Although, the Google speed page test is okay which is of no use since there’s no content that hungry clients could devour in relation to ICO.
- No Physical Address: Just like any traditional organization which must have physical address for operation, the same is true for blockchain-transformed business. As the popular saying goes “people believe what they see than what they hear”, the same is true for an organization seeking to provide ICO related services. CHAINTECH do not only have a physical address but there’s no contact information as well on the website except for some dummy forms.
- With the issue of scams being rampant from organizations who promised to provide ico related solutions, it is of high importance to watch out for the legal backing of an organization. The ICO solution company should not only be registered but also be law compliant and CHAINTECH is lacking in this area too.
- Chaintech doesn’t have a detailed plan as touching the services the company is said to be rendering. They are aimed at providing ICO related services but there is no timeline as well as the budget for this work.
- Lastly, and the most important is promotion and engagement with investors. Upcoming blockchain organizations need to have brand awareness and engage with investors who would help in the process of crowdfunding as this is the major aim of ICO. Also, social media promotion is most important for new ICOs for the general acceptance by the crypto community. CHAINTECH is lacking in both of this.
Your aim is to follow a company with a proven track record and CHAINTECH isn’t one of such organizations. CHAINTECH has ULABS as the only portfolio according to the website and the project is struggling.