China rocked the cryptocurrency markets on Monday when it banned ICOs. And it’s sure to be some time before we see ICOs coming out of China again.
But I doubt ICOs are going away. They’re estimated to be 10x cheaper than IPOs and provide a good way to monetize projects.
So that begs the question, who’s going to benefit?
I think it could be Japan.
On August 3rd, Tech Bureau, a crypto-fintech laboratory out of Japan, announced it would be launching COMSA, a crypto ICO fundraising platform.
Tech Bureau also happens to be the company behind Mijin, the private blockchain of NEM, which is a smart asset blockchain platform. The NEM public blockchain runs on its internal token, XEM.
Any token launched through COMSA will launch on the NEM public blockchain. As you can see from the chart below XEM has been in an uptrend since the announcement.
COMSA is unique in a couple of ways. First, ICO funds will link to a digital Yen called ZEN. By doing this COMSA hopes to reduce the volatility. It’s also unique in that it’s an all-in-one platform. So you can do your sale and distribution through COMSA, plus get listed on Tech Bureau’s exchange called Zaif.
I also like that any tokens issued on the platform will also be integrated with the Ethereum blockchain. Tech Bureau envisions in the future having interoperability between many public blockchains.
COMSA is having a token sale starting October 2. I have no idea at this point who can participate, but imagine if you are in the US or China you’re likely out. You can find more details on the sale here.
With the recent ICO crackdown in China, it looks to me like Japan will be a beneficiary. What do you think?
For more on cryptos follow me @g-dubs and on SteemFollower
I trust in Japan waaaaay more than China for crypto regulations. XEM anyone? Not to fear for China crypto companies tho, they will fly the coop if regs restrict 'em.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed this could be a positive for NEM.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
ya herd!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
very interesting. Do you think I should dump Neo?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No, the opposite. I think eventually ICOs come back to China and NEO becomes an approved platform. They've already worked on govt projects, has the right people.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I don't have much... I'll hold :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Daily Learn some new from your post. Love to read it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I saw your kind resteems, looked into your posts, found great content, so I am returning the favor! 😀
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You found some juicy info, glad you wrote about it. Wish I wrote about GNT... but at least I bought it!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I don't think we have to worry too much. China will be back on board in no time. This is just a temporary setback. China just trying to slow things down
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yea they have to get their hands in everything. But too much $$$ to ban forever.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I though the thumbnail was Goku haha.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Lol honestly I don't know what Goku is, but I found the pic on pixelbay and thought it was quite nice.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think overall the crypto market benefits about this because of the cheap coins and China because people can't get scam in ICO's
Thanks for the good content
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Agreed and thank you!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
nem is a good coin
i didn't know much about icos but know i found that they are great projects that helps alot of people and everyone wins (most of the time)
i feel bad for china icos ban
hope they remove the ban again
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@g-dubs got you a $1.7 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received a 12.42 % upvote from @buildawhale thanks to: @g-dubs. Send 0.100 or more SBD to @buildawhale with a post link in the memo field to bid on the next vote.
To support our curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post received a 1% upvote from @randowhale thanks to @g-dubs! For more information, click here!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received a 1.12 % upvote from @booster thanks to: @g-dubs.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post was resteemed by @resteembot!
Good Luck!
Learn more about the @resteembot project in the introduction post.
Also - check out @reblogger, by reading this post.
Check out the other content resteemed by @resteembot.
Some of it is really cool!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
very interesting. Do you think I should dump Neo?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit