On Tuesday, October 24, it became known that the president of the Russian Federation instructed the government and the Bank of Russia to develop a legislative base for regulating the market of crypto-currencies, ICO and mining. Considering that a lot of Russians are already doing their ICO projects, is it worth waiting for that interest in Russia to place the tokens will come to naught, argued Denis Kulagin, CEO of Serenity Financial .
Denis Kulagin, CEO of Serenity Financial
Vitalik Buterin, the founder of Ethereum, at a lecture in Moscow noted that in no other region, including Southeast Asia, there is such a strong desire to implement blocking technologies in Russia.
Why are the Russians so actively immersed in the world of detachment and crypto-currency to attract financing for their projects? I identified three main reasons for the interest of Russians to ICO:
1. Simply
To attract financing for a project in Russia is not an easy task. Especially if there is no working business. A loan in a bank, as a rule, for the SME sector (small and medium business) is not an option at all. Despite the bank advertising and the promise that it's easy. In reality, if you are in the business plan to write about the detachment, distributed teams and use other words from the IT vocabulary, there is at least a minimum chance of approving the business plan.
With venture investors is also not easy. I'll have to go to events, presentations, every time trying to prove that your project is worth it. And then get the money, but not in the amount you wanted. Going to an IPO is also a complicated and expensive story.
At first glance, the ICO is simple: you can attract a lot of small investors who have enough of what is written on your website or in White Paper. Yes, with large, of course, have to meet. But each of them - will not be your only hope.
In reality, ICO is not always easy. In addition to your business, you will have to delve into the technology of blockade, implement tokensis and a lot of marketing and promotion of yourself and your project. Work with personnel in this area will be a separate headache.
With venture investors is also not easy. I'll have to go to events, presentations, every time trying to prove that your project is worth it. And then get the money, but not in the amount you wanted. Going to an IPO is also a complicated and expensive story.
At first glance, the ICO is simple: you can attract a lot of small investors who have enough of what is written on your website or in White Paper. Yes, with large, of course, have to meet. But each of them - will not be your only hope.
In reality, ICO is not always easy. In addition to your business, you will have to delve into the technology of blockade, implement tokensis and a lot of marketing and promotion of yourself and your project. Work with personnel in this area will be a separate headache.
2. Fast
Yes, ICO can be organized in a month and come to the market even without a prototype, only with an idea. The only question is whether this idea can attract financing, and whether someone else is implementing it even faster than you.
If you approach the process seriously, it is better to lay more time for training. To be in time for this time to prepare not only an infrastructure for raising funds, but also what can be shown to potential investors.
Our preparation for ICO took 4 months - and this is taking into account the already operating business in the financial sector.
By the way, Russian projects have not yet become leaders in fees. But they regularly fulfill their plans, and I hope they will work on their Road Map with the same regularity. Although, obviously, not everyone will be profitable. Moreover, not everything will be launched at all. According to the already mentioned Vitalik Buterin, 90% fail.
At the same time, the future of ICO projects in Russia is not legally defined. But the president has already instructed to work on this issue. The crypto community does not yet understand what measures should be expected on the basis of this elaboration: whether everything in the usual manner for the authorities will be banned, or regulated, but quite rigidly, or will follow the path of liberalization in order to at least outstrip Western countries in some way. There are still hopes for the latest version of the development of events: the same while somewhat clumsy, but still trying to talk about the cryptoruble, the absence of immediate bans on the crypto currency (and we all remember that it was literally a year or two ago to "plant" for using bitokoyanov) the creation of consortia on the blockade, the meeting of the president with Vitalik Buterin - all this suggests that we have a chance,
If you decide to run your own ICO, then I will offer a small check-list, which you simply have to go through once you think about your tokens.
1. Make sure that your idea is needed by someone other than you. Try to tell about it to a person far from your sphere. Do a little research, talk with experts from the industry, analyze competitors or similar solutions.
2. Take a look around who is next to you. Is there a team of programmers who will build an infrastructure for the ICO and then implement the project. Are there people who can represent you to the world, talk about the project, protect and sell it. And most importantly, can they all do this well, do they have enough experience and knowledge.
3. Check your security key. Understand why you need tokenization and what is the token that you will offer. Remember the legal side of the issue. Remember that the security token is not the option that the SEC will like. Do not forget about the financial scheme: how will you withdraw funds earned by the project?
4. Decide what to do next. It is important not only to prepare a plan for collecting money, it is important to have a plan on how to implement the project when the ICO is over. Do not forget to formulate for yourself a real soft and hard cap?
5. Calculate the budget. Make sure that you have a budget for marketing. Prices for promotion ICO are growing every day.
If you approach the process seriously, it is better to lay more time for training. To be in time for this time to prepare not only an infrastructure for raising funds, but also what can be shown to potential investors.
Our preparation for ICO took 4 months - and this is taking into account the already operating business in the financial sector.
3. Profitable
On the ICO you can collect tens of millions of dollars. EOS attracted $ 440.8. And you can not collect. According to recent research, almost 60% do not gain even 75% of the planned funds. But all the same the question is also about what will you do with this money. Unfortunately, most teams do not think of horizons after fees, perceiving profitability only as the amount of attracted investor funds.By the way, Russian projects have not yet become leaders in fees. But they regularly fulfill their plans, and I hope they will work on their Road Map with the same regularity. Although, obviously, not everyone will be profitable. Moreover, not everything will be launched at all. According to the already mentioned Vitalik Buterin, 90% fail.
At the same time, the future of ICO projects in Russia is not legally defined. But the president has already instructed to work on this issue. The crypto community does not yet understand what measures should be expected on the basis of this elaboration: whether everything in the usual manner for the authorities will be banned, or regulated, but quite rigidly, or will follow the path of liberalization in order to at least outstrip Western countries in some way. There are still hopes for the latest version of the development of events: the same while somewhat clumsy, but still trying to talk about the cryptoruble, the absence of immediate bans on the crypto currency (and we all remember that it was literally a year or two ago to "plant" for using bitokoyanov) the creation of consortia on the blockade, the meeting of the president with Vitalik Buterin - all this suggests that we have a chance,
If you decide to run your own ICO, then I will offer a small check-list, which you simply have to go through once you think about your tokens.
1. Make sure that your idea is needed by someone other than you. Try to tell about it to a person far from your sphere. Do a little research, talk with experts from the industry, analyze competitors or similar solutions.
2. Take a look around who is next to you. Is there a team of programmers who will build an infrastructure for the ICO and then implement the project. Are there people who can represent you to the world, talk about the project, protect and sell it. And most importantly, can they all do this well, do they have enough experience and knowledge.
3. Check your security key. Understand why you need tokenization and what is the token that you will offer. Remember the legal side of the issue. Remember that the security token is not the option that the SEC will like. Do not forget about the financial scheme: how will you withdraw funds earned by the project?
4. Decide what to do next. It is important not only to prepare a plan for collecting money, it is important to have a plan on how to implement the project when the ICO is over. Do not forget to formulate for yourself a real soft and hard cap?
5. Calculate the budget. Make sure that you have a budget for marketing. Prices for promotion ICO are growing every day.
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