Today, many people are finally receiving their KYC whitelist submission acceptance letters, confirming their eligibility to participate in the RedPulse ICO on Sunday, October 8, 2017. For these participants, it is a very exciting time as this is easily one of the most hyped and talked about ICOs right now, and possibly ever.
Why is Red Pulse so hyped?
In addition to it being the first ICO to run on the NEO ecosystem, Da Hongfei (The founder of NEO and CEO at Onchain) is an advisor on the team, and is working very closely with Red Pulse to help them achieve their vision. Other notable advisors include Tanfeng Cheng, former Head of China of BNP Paribas Investment Partners and Richard Wang, Partner at Draper Dragon. However, please be advised that having advisors does not directly mean that they will be heavily involved in the project. With the exception of Da Hongfei, we don’t know how close these advisors’ relationship is with Red Pulse. But on the other hand, why associate your name with a project unless you believe it is destined for great things?
One important and often overlooked aspect about the company is that it didn’t just appear out of fat air armed with nothing but a whitepaper. Red Pulse has actually been around since 2015 and already has running partnerships in place with companies like Bloomberg, Reuters, S&P Capital, and FactSet. They have a real-time web-based Chinese financial research platform, as well as a bilingual (Chinese/English) mobile app that runs on iOS and Android. They have more than 50,000 subscribers to their free independent research newsletter, which ranks top 70 globally for readership. You can bet they will rank much higher as their popularity steadily increases.
What exactly does Red Pulse do?
Here is their company overview, as described by Bloomberg:
Red Pulse is an event-driven research firm covering market events impacting Chinese companies, sectors and the overall economy. The firm covers finance, tech, Internet and consumer sectors along with macroeconomic notes. It focuses on covering events that impact stocks, funds and overall market. The firm collects data from Chinese language websites, financial statements, and proprietary databases and highlight key market, sector, and company-specific developments. It also provides access to years of archived and tagged research.
With the help of blockchain technology through Neo’s ecosystem, Red Pulse aims to revamp the current financial research system into a large-scale economic research entity in China (and eventually globally) that incentivizes content creators. Using the RPX token, content creators can sell their research and consumers can use the token to purchase this research or even request specific content they would like covered.
Red Pulse founders believe that the current content ecosystem is broken, as it is being dominated by a few key players. In this regard, Red Pulse hopes to even out the playing field for independent content creators, who will be able to bring in revenue for their contribution.
Stanley Chao, the Co-founder of Red Pulse and Data of Science, summarizes why cryptocurrency is necessary to facilitate this project:
Why Cryptocurrency?
-Reduces frictional costs
-Creates a system of record
-Solves the “Cold Start” problem
Why Our Own RPX Token?
-Building our own community
-Payment scaling issues
-Managing the monetary supply
More information can be found on their website, coin.red-pulse.com as well as within the whitepaper.
With all the FUD and bad press surrounding China’s ICO ban last month, many were left wondering what would happen with Red Pulse. Luckily, the team took painstaking efforts to coincide with the new rules and regulations set forth by the Chinese Government. This has resulted in a short delay, pushing the start date to October 8. Unfortunately, citizens of China, Singapore, and USA are restricted from participating in the ICO, but will be able to purchase RPX tokens as soon as they become available on the market.
by Eli Karadsheh
https://twitter.com/eli_karadsheh