Bitrazzi
Bitcoin, Cryptocurrency And Blockchain News

Charles Michael Yim on BVS: How Companies Can Survive in the ICO and Blockchain Space

0

During the Blockchain Venture Summit in Istanbul, Turkey, Charles Michael, the CEO of Cointopia, opened the speaking at 9:30am (6:30am GMT), talking about the global ICO landscape. Charles Michael is a renowned innovator who has also appeared on ABC’s Emmy Award winning Shark Tank show. As the CEO of Cointopia, Michael spoke about how his company is helping businesses such as Kodak embrace the ICO revolution and build impactful enterprises.

What is Cointopia?

Cointopia is a leading comprehensive solutions provider for ICO companies. Basically, it provides legal consultation, marketing and team building solutions that enable companies to launch successful token sales. With a team that is on a par with current market standards, Cointopia is enabling a healthy and secure ICO culture and boasts of being the first of its kind to market, thanks to its support for ICO companies that extends even to the post ICO stages.

Blockchain’s Current State

According to Charles Michael, companies interested in implementing Blockchain technology need to question whether “it makes sense to decentralize a company”. He mentioned that there are lots of considerations to be deliberated before moving to tokenize certain aspects of a business.

Ethics in Marketing ICOs

Michael recommended that companies should focus on ethical marketing practices to avoid being banned by advertising platforms such as Google and Facebook. One of the most influential platforms for effective marketing according to Michael is the Whitepaper. He stated that there are lots of tokens being delisted on exchange platforms for misleading information and overpromising on their whitepapers and marketing strategies.

For instance, he mentions that Cointopia’s white paper took about 4 months to complete as every bit of information had to be counterchecked for accuracy.

Regulation and Security in the ICO Space

Michael also talked about regulation and security as some of the most important milestones towards a successful ICO. He indicated that 18 months ago, ICO companies had few standards to adhere to and with a half-capable team and a half decent product, most companies would still manage to raise millions in funds. However, the current ICO space has changed dramatically and new companies now have to adhere to the new standards of marketing, team building and product creation.

Partnership With Kodak

Furthermore, he mentioned his company’s partnership with Kodak as an example of the new ICO standards of companies that want to tokenize. Currently Cointopia boasts of a $4 million allocation in its partnership with Kodak and is providing Kodak with market penetration since it’s licensed by the SEC to operate worldwide.

 

What are your thoughts on Charles Michael’s remarks during the Blockchain Venture Summit? Share your thoughts and comments below.

Comments