For those who don’t know what is ICO, It is an Initial Coin Offering, which is also referred to as an ICO. It is a fundraising mechanism in which exchange for Bitcoin, Ethereum or any other cryptocurrency is done by the new projects to sell their underlying crypto tokens. Which is also alike to an Initial Public Offering (IPO) in which investors purchase shares of a company. It has also become a dominant and a hot topic to be discussed upon.
But the popularity of ICOs somewhat decreased, this doesn’t mean that they are dead or are vanished especially not when one of the world’s biggest and largest technological corporation is bringing it up. Yes. It is none other than THE MICROSOFT.
A cloud computing service which is created by Microsoft, called as Microsoft Azure has recently listed ‘Stratis’ in its product’s section. Stratos Group, which is based in London has created a platform that offers a web-based application which enables initial coin offering projects to manage the distribution of the tokens. It also facilitates a secure and flexible payment route that participants use to purchase ICO tokens ahead of the initial allocation. They pay with either Bitcoin or Strat, which is Strati’s native token.
This additional service allows and helps ICO participants to convert their fiat money or cryptocurrencies into Strat smoothly.
When Microsoft came into the industry of ICO, it slowed down the growth in the sector of cryptocurrency. Late in the year of 2017, when the crypto was at its boom period, ICO projects were raising billions of dollars at their ideation stages. People started to buy tokens and started to believe that ICO would become the next Bitcoin or Ethereum. In spite of this, most of the ICO projects failed to turn up to a practical business model and at the very same time, many of them disappeared with investors’ money.
The managers of the ICO all over the world took major steps to limit scammers’ access to potential investors. The US Securities and Exchange Commission has started its most serious suppression against the startups that were selling tokens illegally. Similarly, in South Korea, the Financial Services Commission (FSC), banned the ICOs.
In spite of this, with Stratis, it seems like Microsoft is serious with regard to the scammy nature of ICO.
In the due course, Microsoft Azure should be looking to draw into more professional ICO market.