Challenge Three: Lack of trusted sources to judge ICOs
There are two simple reasons why existing rating sites needs to be changed. They are compromised and outdated. They haven’t served well the interest of investors, rather the other way around: retail investors were given fake paid reviews from so-called ‘experts’, which had a direct and bad effect on their returns.
Problem is that rating sites basically play a very important role in the ecosystem. They help investors to make decisions, they educate people, provide place for companies to advertise their products/services and for experts/researchers to distribute contents or positionate themselves. However, rating sites are more and more unpopular, lose their reputation and don’t show any sign of progress in order to keep up with the market trends.
Take a look at these facts.
- After recent scandals on selling good reviews, rating sites has started to lose their reputation, thus their significance in influencing people’s decision
- Investors are in need of more customizable, user-friendly solution when it comes to review ICO projects and considering these projects to invest.
- Existing rating sites lack the ability/solution to integrate the opinions of the whole ecosystem (experts, influencers, research groups, individuals) in one platform.
- The ICO influencer market is built around 10–15 people who got unreasonably big power to influence investors’ decision. We all know the ‘Ian Balina said, so it’s a huge project effect. Problem is that they are also investors with huge amount of money, but unlike retail investors, they really have the power to influence public opinion and the prices in a way that is more beneficial for them than for individual investors.
As long as rating sites are operating in this risky, fake and centralized manner, there is no way for the industry to become mainstream. When we first started to think about what kind of platform we should build and what kind of features we should include in it, it was very clear that we need to create a brand new rating site with brand new approach that gives back trust, reliability and transparency.
That is ConnectICO rating. We didn’t intend to create a “revolutionary algorithm” to analyse ICOs by superficial informations, because we know that it only leads to misleading conclusions, as there are too many variables, which can be manipulated. Neither we offer ratings from our own experts, which could inevitably lead to frauds.
Instead, we collect the opinions of the most recognized influencers, rating sites and research groups (aggregated ratings). Together with that, we also give the opportunity for our members in the platform to express their opinion and show their expertise. Although Connectico gives recommendation on how relevant a review should be considered, we do not press our opinion to the investors. People are no longer manipulated by the site, rather they can enjoy maximum transparency and a revolutionary solution, called ‘Weight Calibration’ that provides 100% customizable ratings according to investors’ preferences. It’s as simple as it seems.
- Thanks to the aggregation, you can find every relevant opinions from the ecosystem
- Thanks to the Weight Calibration function, you can freely decide whose opinions you find the most important and most relevant
- Connectico tracks the “rating sources” by their efficiency, which will further help you make wise decisions on who to trust and who should not deserve your confidence.
- That’s the simple way you get 100% objective, customizable ratings that can help you make investment decisions.
We aimed to create a place where investors feel safe with the greatest confidence and never get loss among the misleading informations. We wanted to stop the scam ICOs and everybody helping them, together with other rating sites and influencers having fake and paid reviews. Connectico is working in the interest of people and the ICOs / STOs which have good intentions.
For an era of transparent, safe blockchain investments and fundraising, it was inevitable to disrupt existing rating solutions. And that’s the very goal of ConnectICO to create a new era of blockchain investments and fundraising that is built on trust, transparency and security.