Hackernoon logoWhy I refuse to launch an ICO for our startup and why you should also refuse. by@luisacerv

Why I refuse to launch an ICO for our startup and why you should also refuse.

LuisAcerv Hacker Noon profile picture

@luisacervLuisAcerv

I play with computers

Come on, it’s obvious why so many startups and entrepreneurs around the world succumb to the temptation to create an ICO. Basically the answer is because an ICO promises easy money. However, launching an ICO is not so simple and making it successful is not an easy task either.

In K-chin we are fascinated by challenges but we are very selective about what challenges we want to face. And our most important challenge is to create products that have value for people. It’s simple, if you create something that people are willing to use and recommend then it will be easier to develop services around it.

Designing and developing products and services is a full-time job, with ups and downs, and although the path is never straight and easy, it is an undeniable truth that in the long term is much better.

The problem with an ICO is that all the part in which a product with intrinsic value must be created has been forgotten and although not all, most are much more focused on raising funds from nothing.

And well maybe you think what’s wrong with wanting to generate a few million dollars? It is obvious to think that, once having the money is much easier to create that great and innovative product that you are promising in the beginning.

However I do not know of many ICO’s that are already a functional platform with millions of users enjoying the service. The cases are very scarce.

Do not misunderstand me I am not against the ICO as such, I am against the misuse of a great tool that has gradually become saturated with scams, pyramid schemes, and a lot of empty promises.

Image result for promises

First of all we must ask ourselves. Do we really need to launch an ICO? Is our product good enough and valuable enough by itself? And the most important. Are we really implementing the technology in the best possible way in our project?

In the end it is a matter of decision. Everyone is free to decide how to implement technology and how to reach the market. Anyway, it would be great to see more and more projects with well-designed design and development.

What do you think?

Tags

Join Hacker Noon

Create your free account to unlock your custom reading experience.