ICO and blockchain, what is so important? And why we are using it in our Service AIDA (Part 1- introduction)

ICO abbreviation stands for Initial Coin Offering, that is, the initial placement of coins (tokens). During the ICO, the project team sells digital tokens for crypto-currencies or fiat money to investors. Later, these coins can be used on the project platform as an internal currency or trade them on stock exchange. In fact, the ICO is another realization of the crowd finding model, when the participants finance the development of the company now, in order to get some advantages from it in the future.

Blockchain — is a database in a million copies

All transaction data is stored in a database called a block. This database is located on the computers of hundreds of thousands of users around the world. One person cannot fix anything in the database to his taste — any change must meet strict cryptographic requirements and should be checked by the network.

To explain the picture, all changes on the database (blockchain) are made by randomly selected users — specifically chosen person cannot simply take and add the block to the circuit or replace the previous fragment. The process of making changes to the block system is called mining — users are rewarded for the fact that their computers are involved in the formation of this base itself.

Why do we conduct ICO and attract investment?

We have calculated the necessary costs for a faster start-up and marketing for the product to enter the international market. There are a lot of ideas on how to make the product even more convenient and adaptive. The funds invested by the founders, went to the development of the alpha version of the product. In the case of attracting the right amount of investment, the speed and quality of the service will be greatly accelerated.

In the process of development, there were ideas of improving the service, funds for which were not laid. If marketing initially meant only SEO promotion, then in the case of investment, we will be able to strengthen all channels for the promotion of the service. Moreover, we understand that we can project the service to other markets with similar business processes, and therefore decided to conduct two stages of attracting investments through the ICO, after the second, we will begin implementation in other areas.

Since we expect to introduce Blockchain for faster internal settlements between counterparties and for the settlement of all service level agreements (hereinafter referred to as SLAs) based on smart contracts, this will lead to the growth of crypto community and the demand for crypto currency.

This is necessary for the popularization of the crypto currency at all levels of society, which, of course, will lead to the recognition of crypto-currencies by a large number of states.

For convenience, investors will be provided with a personal cabinet in which they can:

Be aware of all news on product development first;
To offer ideas and participate in voting;
Upon readiness of the service to learn about the privileges for investors;
To see the history of the movement of tokens, as well as their value on the exchange;
Obtain commercial information about the turnover of the service.

The purpose of the personal cabinet is to give full information about the work of the service, forecasts for turnover and comfortable work with investments.

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