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The startup ecosystem, especially those related to cryptocurrency and blockchain technology have found ICOs and token sales to be the easiest and the most efficient form of fundraising methods. In the past few months alone, the world has witnessed some of the highest grossing ICOs which raised over a hundred million dollars equivalent in cryptocurrency.

The ease of setting up an ICO and the lack of minimum requirements or regulations make it easier to misuse the process to raise funds for fraudulent projects. With no effective due diligence method in place, those investing in the ICOs take a huge risk. Besides, projects opting for a crowdsale usually rely on ICO hosting platforms, many of which are not completely decentralized and hence not entirely trustless.

Aimwise, a blockchain project has taken into account all the issues surrounding the ICOs and the cryptocurrency ecosystem to come up with a solution. The Aimwise platform, which by itself is based on blockchain protocol aims to create a fair and transparent system that benefits everyone involved in crypto-projects, irrespective of whether they are the creators or funders.

The Aimwise ecosystem is comprised of three different parts an ICO hosting platform, crowdsourced idea incubator and portfolio management tool. It is an initiative of a group of enthusiasts from various industry segments including fintech, banking, corporate law, finance, and blockchain industry.

The Aimwise project is attempting to set high disclosure standards for projects that are opting for an ICO so that there is enough, verified information available for investors to make an informed decision. The decision to whether support the project on Aimwise ICO hosting platform will be taken by third party rating agency and the cryptocurrency community themselves.

Similarly, the platform also aims to help the community members, entrepreneurs and teams to pitch their idea to each other and a wider cryptocurrency community (including experts in various fields) and conduct necessary background research to come up with innovative, validated cryptocurrency projects that can solve real problems. The Aimwise crowdsourced idea incubation program will accelerate the rate of innovation in the industry.

Aimwise will also introduce a portfolio management tool, which will come in handy for investors, as they manage funds and investments by taking well-informed decisions. These decisions are enabled by sophisticated big data algorithms that analyze various data points form the entire Aimwise ecosystem and beyond to suggest profitable investments.

Altogether, Aimwise is attempting to standardize the project fundraising and token sale process in the entire cryptocurrency ecosystem. In order to come up with a complete product, the Aimwise team will soon launch its own ICO. The platform will implement most of the best practices during the crowdsale and utilize the funds raised for further development, marketing, and operations involved in making it successful.

More:
Aimwise to Create Standards for Cryptocurrency Crowdsales - newsBTC