[Focus] PricewaterhouseCoopers together ICOAGE development ICO project evaluation system


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nnIn the current trend, how to assess the ICO project, how to avoid the risk of investors, how to promote the chain chain industry to social coordination and reduce the direction of social development, are the focus of attention of people inside and outside the industry. PricewaterhouseCoopers and ICOAGE have developed the ICO project evaluation system to determine the maturity of ICO projects from different areas and different dimensions by developing industry judgment criteria.nn
nnJuly 6, 2017, PricewaterhouseCoopers China issued official news, said ICO professional platform ICOAGE cooperation, joint development of ICO project evaluation system, the development of industry standards to determine the industry and personnel from different areas and different dimensions to determine the ICO project The maturity, to avoid the risk of investors, how to promote the chain chain industry to social coordination and reduce the direction of social development.n
nIn the official press release, PricewaterhouseCoopers introduced the ICO’s concept of raising funds and the current “surprising” status of development, while pointing out the risks that ICOs face. PricewaterhouseCoopers believes that the current ICO is still free from the traditional legal system, in a gray area, so for investors, the participation of ICO bear a higher risk.n
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nICO risksn
nSpecifically, PricewaterhouseCoopers pointed out that ICO through the Internet and usually only accept Bitcoin, ether square or other encrypted currency, so its jurisdiction is difficult to define, investors can not be protected. Although regulators such as the People’s Bank of China and the US Securities and Exchange Commission have begun to pay attention, there is no relevant legal action yet.n
nIn addition, ICO is characterized by its investment in the future of the project, the initial ICO, the project itself may be just a concept, coupled with the block chain technology is more difficult, ICO project success or not variable factors greater risk higher The Investors are faced with ICO sponsors abstain from money or money after the negative treatment; team over-commitment to the purpose of raising as much money as possible; or because the team is composed of some geeks, the lack of adequate management and management experience, lack of Control, the lack of good business use cases; the final ICO most investors do not care about the project itself, and only from the profit point of view of speculation, which led to the ICO eventually become a currency for the purpose of a currency game.n
nThere is also a point of view is the regulatory risk. For illegal or noncompliance financing, once the regulator involved, investors may lose most or even all the funds. In the long run, the lack of regulatory requirements, but also makes the financing did not continue to monitor the mechanism, often to the real investors have questioned, compared to the IPO disclosure requirements, ICO project lack of protection of rights.n
nPricewaterhouseCoopers believes that these risks are not only for investors, but also for the sector chain industry. If not to be standardized, and may even lead to the development of the industry eventually “short-lived.”n
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nStrong cooperation to establish an evaluation systemn
nThe ICOAGE platform is founded by Gong Ming, the influential member of the domestic chain chain. It is a global ICO project for investors to help investors understand the project and provide a complete account for the global ICO project. Service solution platform. The platform provides a complete one-stop solution for both ICO projects and ICO projects or start-ups. ICOAGE platform is widely watched Qtum, TenX, Status, Omisego and many other ICO project partners and even the exclusive partner.n
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nAs pointed out in the announcement, PricewaterhouseCoopers believes that for an endless stream of ICO, a more professional perspective is needed to help participants make the right decisions. Therefore, PricewaterhouseCoopers chose ICOAGE platform, the two sides in their own areas of experience and expertise to develop a set of ICO project evaluation system to enable investors to ICO project to make rational independent judgments to avoid investment risks.n
nIt is understood that the assessment system using PricewaterhouseCoopers methodology, from seven major areas of the quality of the project, different areas will be broken down into several small items, through background checks, research, audit materials, etc. from different dimensions to assess Then
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nnProject Background: Through understanding the project background, the nature of the project and the ICO issue within the scope of the laws and regulations, can effectively determine whether to avoid the risk of legal supervision;n
nProject white paper: analysis of the contents of the project white paper and published channels to understand the core competitiveness of the project and operational mechanism; objective evaluation of the project itself, to determine whether the project has a good vision, whether feasible business case, to avoid over-optimistic;n
nProject team: through the understanding of the project team and background checks to determine whether there is the risk of misappropriating; assessment of technical strength and team comprehensiveness, to determine the possibility of success of the project;n
nProject code: assessment project code management mechanism, code security audit mechanism, to determine the project innovation, security and feasibility;n
nProject operation: assess the project road map, disclosure information and the integrity of the governance structure to determine the overall control of the project and project decision-making program;n
nICO distribution program: analysis of ICO distribution program, the use of funds programs and community campaigns, etc., to determine whether the success of ICO;n
nFinancial control: assessment of financial management system, the use of funds to raise programs and financial audit system to determine whether the financial governance structure is perfect, the existence of the risk of misappropriation of public funds and the safety of funds.n
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nnAfter completing the assessment, according to each field score, comprehensive assessment of project maturity, PricewaterhouseCoopers and ICOAGE ICO project will be divided into three levels:n
nnBudding (Embryonic) leveln
nMaturing leveln
nMature leveln
nnSo as to provide investors with an objective basis for project evaluation.n
nChain chain (penb.com) was informed that the detailed assessment guidelines will be jointly released by PricewaterhouseCoopers and ICOAGE and provide download, we will also be released in the first follow-up news.n

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