Is Microsoft the ICO Savior?
ICO’s seem to be sooooo 2018, even late last year ICO’s weren’t so hot. Many consumers have become frightened to invest in coin offering because of the astronomical amount of scams and market failure that has occurred.
Blockchain was introduced to the world as the “safest technology” known to man. But this did not mean people proclaiming to use it were. The lack of regulation and shady guidelines have led people in the wrong directions and sometimes into traps. Between Ponzi schemes and exit scams, ICOs have left a bad taste to many but it may not be over just yet.
Microsoft Azure, the cloud computing service Microsoft created, listed Stratis in their product section. Stratis was created by London-based Stratis Group. The platform offers a web-based application that enables initial coin offering projects to manage token distribution. It is equipped with a payment route that is secure and flexible to use. Participants can use it to purchase ICO tokens ahead of the initial allocation. They pay with either Bitcoin or Strat, Stratis’ native token.
The platform has integrated Onfido – risk management and fraud prevention software – that screens contributors against anti-money laundering watch-lists. Talk about scam alert! The tool can verify documents that ICO participants submit as a part of the know-your-customer (KYC) process.
Find out how @StratisPlatform on #Azure can help you manage a successful initial coin offering: https://t.co/86efOPCmQ7 pic.twitter.com/8uQMXi8zQA
— Microsoft Azure (@Azure) February 19, 2019
As a bonus, Microsoft added Changelly to the platform. The add-on service enables ICO participants to convert their fiat money or cryptocurrencies into Strat, which is apparently really easy to do.
Now, what does this REALLY mean for ICO’s?
Well, first of all, this product is SUPER regulation friendly. Not only will it assist in the collection of funds in an efficient manner but it will also help detect fraudulent activities. This can aid governments in making sure companies are legit and transactions follow regulations. This can make ICO’s seem as safe as IPO’s.
A product like this will help distinguish the runt of the litter ICO from the professional ones. If you really know your crypto, you may look at this story and think this is already a thing. Correct it is. If you know how ETH, XLM, or EOS work, they can facilitate some of the services Microsoft aims to provide, but not as seamless and efficient. Microsoft has a huge advantage when it comes to this technology. One, it’s a huge company with a trustworthy name. 2, it’s an all in one system that can be easier to implement than others. Microsoft is starting to become a true competitor to crypto-based tech startup along with IBM.
May the best tech win!