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RE: Blockchain – Beyond Bitcoin (Part 5) Investments and Insurance
Wow... upvoted, resteemed and followed! I will have to go back and read the first ones. I'm super excited about Iconomi as well. Since the price stayed so low after the ICO I'm still stocking up on that one! I also hadn't heard of Exodus, so thanks for sharing that. Great looking app, now if they just add some more coins and tokens to their platform soon! This is a great read for the bitcoin noobs and for anyone who has been in the space for awhile.
Thanks for your encouraging comments @framealife. Stay tuned there is lots more to come!
Exodus is a wonderful project. The guys running it, JP and Daniel, have a clear vision for what they are trying to achieve. They have fairly clear targets and high standards for what they will allow into the Exodus app and I think this will make the app very usable, stable and reliable. The are very focused on UX. Its apps like this that will bridge the gap and make Blockchain accessible to anyone. This project could gather momentum very fast and its one to watch. What I like about it though is that It's not a coin and plans on plugging into other digital Blockchain Assets. In a sense they are digital asset agnostic. They are now just a store of digital value but as far as I know they intend for their app to become a form of peer to peer digital exchange.
I dont know a lot about Iconomi. I will definitely do more reading about them. My impression at the moment is that Iconomi is more of a digital asset fund which is quite specific aiming to allow you to invest in lots of things in a digital market place. It's not as agnostic as Exodus. Exodus has not tied itself to any one digital currency and is quite flexible and will be able to adapt to the evolving Blockchain landscape. I worry that Iconomi will just not be flexible enough to change or offer the assets of competitors which will emerge. I am very interested to learn more about them.
I have also written a post about the multitude of digital currencies Do we need 709 Digital Currencies?. I focused on Digital Cash but I also wanted to revisit this post and do one on Digital Assets, which Iconomi would feature. What opportunities exist for these Assets and what would drive their long term valuations.
I don't think that we need 709, and most of them are garbage. However, I do like the appcoins and think they serve a purpose. Even if you could technically do everything with say Bitcoin, Ethereum or only a handful, I think there will always be alts and apps. It serves 2 purposes: 1. testing new ways of doing things that you wouldn't implement on the main chain. 2. from a branding perspective, it just works to have a token that is only used by you and for your platform. There are arguments against both of those ideas. All I can say is we live in a very interesting time, and most of the world doesn't even recognize it yet.
As for Iconomi, they do create their own fund that can be accessed by those who participated in the crowdsale. They also are going to create their own fund that the public can buy into. The neat thing is, if you hold the ICN token, you rake a % of the fees they charge on the trading, deposits/withdrawals, etc. So you can keep building up your stock of ICN and have your own revenue stream of Ethereum paid to you weekly from just holding that token. Another awesome element to Iconomi is that anyone can create their own fund and have people invest into it. You can copy Iconomi's fund, other users funds, or pick your own investments to add to your fund. And the most important part of their platform is the ability for investors to buy into the funds with bank transfers and credit cards. It's hard to get people to invest into holding different cryptos and ICOs when to them it's difficult to even set up and purchase Bitcoin and Ethereum to trade for those. So it will bridge the general public to crypto and also supply a few different revenue streams.
I definitely liked what I saw with Exodus, but it seems it's just a management platform that links you to shapeshift to trade. I like it, I like the visuals and it appears easy to use. I will definitely try it out since I downloaded it. I must say though that I hold BTC and Eth, but I don't hold Dash, LTC or Doge, so I'll hold off until they offer more options. I hope they add Factom, because I still hold a lot of Factom, and that wallet is a pain to use. I'd love to be able to just add my Factom pvt key to Exodus and trade it from there.
Thanks for your insight!