BRO: the French Startup Wants to Make ICO OutdatedColin Baseman
The French firm said that its novel crypto fundraising tool, the reward offer for supporters, BRO will replace the ICO and save the business from the economic crisis.
The French platform for distributing digital assets Tozex reported lately it has created an innovative tool for crypto finance that can propose companies a solution to difficult financial times because of the epidemic: so-called BRO - Believers Rewards Offering.
Tozex asserts that the innovative BRO represents the "first supportable alternative" to ICO’s and STOs, permitting companies to move in finance by loaning stable coins from financiers worldwide.
BRO will eagerly protect SMEs
The company's statement makes big assertions against BRO, defining BRO as a “business crisis solution.” The official paper claims that the Fund-raising mechanism will help minor and medium-sized businesses “overcome difficult financial times and create new funding opportunities.”
BRO offers are made via the Blockchain-related Tozex Protocol, which uses smart contracts for Autonomous and transparent execution of loans related to the debtor's cryptographic collateral. Tozex Company says that its arrangement reduces the price manipulation risks and leaves fraud that can be connected with ICOs.
Regardless of the supposedly ground-breaking BRO design, Tozex will likewise offer STO with ICO services.
To note, Tozex co-originator Remy Ozjan stated that he is certain that crypto issuance tools such as BRO will in a little while move further than the digital ledger sector, and become a mainstream type commercial community.
"We anticipate ITO to emerge from its historic framework as a fundraising technique intended only for digital ledger startups. Given its features (fast start, huge reserves, liquidity lack of capital attenuation, this innovative influential way to raise resources cannot be simply limited to “upcoming startups," remarks Remy Andre Ozcan,Tozex co-founder, and FFPB’s President.
BRO Tozex lets operators drastically reduce the "pump and unload" occurrence, limit instability, and stimulate development by ensuring equal handling for all participants - a characteristic that we would not even dream of earlier, the lack of which has subsequently made several marketplace players ill-disposed to novel technologies. Simultaneously, the Tozex Company enables users to select any fundraising tool they favor. BRO, STO, and ICO will be accessible after the campaign of Tozex BRO, which formally begins on June 22, the present year, and is currently in the pre-investment phase.
Coronavirus emergency stimulates opportunism
Tozex firm is not the initial - and possibly not the last one - in the cryptocurrency space to utilize the pandemic in its advertising efforts.
HashCash Consultants presented their "Corona Fund index Cryptocurrency" in March, which was publicized as a sustenance offer for a Reserve that is registered on the exchange. Nevertheless, it later turned out that the currency has no backing and hence no cause to associate with the reverse type ETF.
BRO is not merely a safer, and more transparent form of ITO, but as well, an appliance that allows non-cryptographic companies to mark their funds and find a different and promising way of financing.
The Tozex developers definitely have lofty goals, as BRO is interesting, particularly given the record economic crisis the world is experiencing, which shows many companies are unable to access outdated financing.
Nevertheless, though the Tozex group says they especially developed the BRO to lessen the risks characteristic to STO’s and ICO’s, it is curious if the disapproval toward ICO’s has gotten to such a level that it will cloud the view of BRO’s irrespective of the technical facts?
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