It is confirmed by a Chinese government official that the Chinese government’s ICO ban is temporary. The Chinese government is finding a way to integrate licensing program for ICOS to restructure the market and legitimatize ICO projects. While this is good news, Binance is suspending LRC trading as LRC is still refunding investors because of the ICO ban in China. This will scare investors.
Before the news was confirmed, there was a price reaction due to the uncertainty of the news. Investors are taking advantage of the low prices. The Ethereum Network set a new record for number of transactions processed in 24 hours — over half a million in transactions!
Last week people asked me about the “ripple effect” that the Chinese ICO ban would cause. Other countries will figure out how to regulate it so that there will be more sincere projects to wipe out the scams. As regulations come in, more investors will feel that it is secure enough to participate. The stronger the network gets, the more that people will trust and then normalize it.
The future of tokenization
Tokenization makes investing cheaper, faster, and more secure and accessible 24/7. The underlying technology of blockchain will eventually open up world markets, in a similar way to what the internet did for the exchange of information. This wild, wild west is all similar to the dot-com boom!
The Short Term Effect(s)
- The prices will drop for a few weeks and you can get in at a better price.
The LongTerm Effect(s)
- The blockchain ecosystem will change significantly in the following months.
- Tight regulations in the US and China will encourage many blockchain startups may move to Switzerland and other countries like the UK that do not have tight regulations, temporarily, to launch ICOs.
Upcoming/Current ICOs
Smart Tickets
EventChaint: EventChain allows you to create events anywhere, set ticket conditions, control resale, get tickets easily and quickly, etc. Think of EventBrite but on the Blockchain, with money that transacts in the system and not the middleman. Check out their demo to see how seamless it is!
Presale: Sept 1 — Sept 12
Main Crowdsale: Sept 13 — Oct 14
Smart Contract Wizard
EtherParty: Removes the difficulty of creating, managing and executing smart contracts on multiple Blockchain platforms for users that lack any sort of knowledge of smart contract programming.
Presale: Sept 5 — Sept 14
Main Crowdsale: Sept 15 — Oct 15
Stock Brokerage for Investors
CryptoPay: Allows cryptocurrency holders to leverage their holdings 4X and invest in other financial markets seamlessly. The company will create crypto-friendly bank accounts.
Presale: Sept 15
Cryptocurrency Exchange
Kyber Network: Introduces a new standard contract wallet to allow existing contracts, which only allows a few tokens, to receive payments from any future tokens without any modification to the contract code. Users won’t pay extra fees (except gas) and will know their conversion rate before executing transactions.
Presale: Sept 15