Project That's Definitely Worth Taking a Look - Here is my Analysis

daxillix (32)in #crypto • 6 years ago

NEXO Instant Crypto Backed Lending Platform 10 years of experience in fin-tech and lending

When it comes to ICO investing I'm about as sceptic as they come. As of this year the gold rush mentality , the saturation of projects all claiming to be the worlds first this or that and the incredible level of hype in the crypto space has only fed my skepticism. That is not to say that I am uninterested or dismissive of this burgeoning industry. There are some really innovative and amazing projects out there, with thousands of new ICOs and the numbers are only increasing dramatically it makes sifting through so much information in search of something that is solid , backed by experienced individuals and has an undeniable use case that is supportive of blockchain and decentralization quite an undertaking.

When a friend of mine introduced me to NEXO I figured I'd take a look and see where his enthusiasm for the project was founded.

The website has a really clean and fluid UI that is pleasing to the eye and doesn't induce a cognitive overload . When I look at NEXO's website and I don't instantly feel like the phrases and jargon being used is the work of an evil marketer trying to convince me that what they're selling is the best thing since sliced bread and there is nothing else out there that can even come close to competing with them. When a project has won my attention , they have presented clean and clear facts , an accurate timeline of their experience in the domain and a business model that makes plain and simple sense on an economic and market intelligent fashion. As far as first impressions go NEXO passes my guidelines for what a valuable project does to present themselves.

The idea of a crypto backed loan is not a new concept , NEXO is not the only one pursuing the issuance of a cash loan in exchange for collateral in the form of Cryptocurrency. However due to the volatile nature of the market and the concise assessment of risks required to carry out such a service along with a whole hoard of regulatory red tape that needs strict compliance in order for it to be able to scale to a global level of acceptance is no small task. For such an undertaking to be successful it requires an experienced team who is highly knowledgable and well versed in a wide set of domains; fin-tech , international banking, lending , blockchain and overall economics just to name a few. When researching NEXO they appear to fully meet if not exceed these criteria.

Theres is my take on it in a bit of a nutshell , my view is simply objective. I like the project , my conclusions are based on my research and while I am a supporter of NEXO , it is crucial that you pursue to do your own research on the project. I felt like sharing this with the community here because I think there are others who may not know about it who would be interested and could potentially benefit from it.