The world of cryptocurrencies has come a long way since the early days of this decade, and nowadays it is a much more structured space, although regulation is still being awaited by many people in the crypto sphere. Nowadays there are highly sophisticated crypto exchanges and today we’ll be talking about one such example: Coincheck.
Japan has been a shining light when it comes to innovations in the crypto sphere, and over the years, plenty of new innovative processes have originated from the country. In a new development, the Japanese crypto exchange Coincheck is now working on offering a service known as an IEO or an initial exchange offering.
Coincheck has commenced a feasibility study into the whole thing and wishes to launch a major fundraising business that will be powered by utility tokens. Back in 2017 or earlier, Initial Coin Offerings or ICOs had been the most popular method of raising money for developers as well as companies trying to launch a new crypto token. However, that has now changed completely, and many developers are now looking to use IEOs to raise money for their projects. According to reports, many companies have managed to raise millions of dollars through this particular method.
This is all set to be the best method of fundraising for companies trying to get into cryptocurrencies for the simple reason that ICOs now stand discredited as a method of raising money. Over the years, plenty of spurious as well as totally fictitious projects made ICOs and people who invested their money oftentimes lost everything. Hence, it is believed that the IEOs could now be the way to go since at the end of the day, it offers a lot more information to investors with regards to a particular project.
What do you think about the Coincheck IEO?
Featured image: DepositPhotos © kentoh