INTRODUCING MOBU: SECURITY TOKEN AND ICO REVOLUTION PLATFORM | 205 Steem Dollars Writing Contest- My Entry
This is my entry for the sponsored writing contest organized by @monajam. You can find the contest here.
INTRODUCTION
The crypto world in recent time have become successful in the business world, aviation, academic, health and banking sector. Tons of blockchain technologies rolled out programs that aimed at eliminating real life issues.
Many used the bitcoin’s open sourced protocol, while others were different in their origin and setup. The beauty of blockchain technologies is in their reward system, you don’t spend time using them without getting value of them, hence the token system seen in most blockchain technologies
These tokens are assets that clearly represent the value and market capitalization of the company. To further explain this, token is a reward system a blockchain technology can use to sustain and engage its users, it can also be used as a stake in a blockchain technology
Some tokens if not all can be used as a means of payment across different online and recently offline stores. Tokens however became so valuable in the blockchain technology that its use cannot be over emphasized.
Often times when a token is being created by a blockchain technology, it distributes it in the form of ICO (initial coin offering). The essence is usually to market the product, make the public aware of it and also offering value as well.
Since tokens can easily be created, you could notice how fraudulent many projects hinged under it have become. SEC ( Securities and Exchange commission), a body that controls financial profession activities, secure transactions and monitor trading in general stepped in, they stepped in to avoid and reduce fraud and deceit of any kind.
Their rules however was not favorable to a whole lot of companies, some of these rules includes:
Extensive KYC and AML validation status
The Know your customer verification (KYC) is one way they use to check mate and know individuals behind the program, and also validate their reputation in the blockchain process. Recently, money laundering through the use of blockchain technologies have become a thing of worry. Since little restriction is placed on funds transfer using the blockchain, SEC uses a flow system verification before a token is being set up.
Checks on transfers which must be dependent on the investor, volume of transactions, and others. This has frustrated a whole lot of technologies that have malicious ideas
These checks, verifications led to the establishment of SECURITY TOKENS
SECURITY TOKENS
Security tokens are secured financial investments subject to the rules and regulations of the governement. In other words, they are tokens that meet the SEC standards.
Before a security token is made available for use, it usually becomes registered during the ICO of the blockchain technology and participants by rule and cohesion are expected to abide by these rules
Security tokens are like investments and investors profit from it whenever there is an appreciation in the market value.
UTILITY TOKENS
Utility tokens are a bit different from the security tokens, they are usually used as capitals for development of a blockchain projects. They are basically not investments when compared to the security tokens , they could be regarded as App coins or user coins.
Utility tokens are required for the maintenance and running of the blockchain projects, they are used to pay for network fees and also optimize network load
ADVANTAGES OF SECURITY TOKENS
- Reduced and subsidized fees
- Broad investors
- Less risk of fraud and deception by institutions
- Large and easy market reaches.
DIFFERENCE BETWEEN THE SECURITY TOKENS AND UTILITY TOKENS
Security tokens | Utility Tokens |
---|---|
Security tokens are used to transform companies liability into a token represented on the blockchain | Utility tokens are used to pay for network fees, optimize network load and fund development projects |
Security tokens are usually established for investments and are profit oriented | Utility tokens are basically not for investements, they just fuel the blockchain |
Security tokens meet up with the SEC requirements and are subject to government regulation | While utility tokens are clearly established without the mandate and requirements of SEC |
INTRODUCING MOBU AND ITS ROLE IN THE ESTABLISHMENT OF SECURITY TOKENS AS WELL AS SOLIDIFICATION OF ICO RELEASE PROJECTS
Mobu is a decentralized, smart contract platform that will facilitate the release of security tokens during ICOs. It has incorporated KYC, AML facilities that will ensure smooth and hitch free set up processes by users, Mobu has eliminated the existence of third parties and ensures direct relationship between users.
There exists fees reduction scheme aimed at helping intending ICO projects. This blockchain is established in a such a way that even people with little knowledge and experience can easily find value in it.
It ensures the presence of middle men is limited. More so, Top notch trust and confidence can be seen by the use of Mobu through the security tokens, fear of fraudulent ICO launch is being eliminated and only authorized investors are permitted to participate and use the blockchain.
ICOs with funds issues can pitch their tent on the Mobu blockchain and get to benefit from the amazing riches of the platform
WAYS Mobu WILL STABILIZE THE BLOCKCHAIN AND RESOLVE PROBLEMS THEREIN
- Elimination of middle men
- Reduction of fees for developers
- Enhanced trust and confidence through its verifications\
- Ensuring safety of the interests of investors
- Establisment of tokens to engage and benefit users.
MOBU TOKENS]
MOBU has a token that is built on the ERC20 Standard, this token can be exchanged for in other blockchain technologies
Like I mentioned earlier, the token serves as a reward system for users of the technology, which will benefit all participants.
There also exists a referral reward system for institutions and people who can bring in ICO intended developers.
Airdrops have been mapped out alongside bounty programs, indeed mobu is out to revolutionize the blockchain technology
MEET THE TEAM
ROAD MAP
CONCLUSION
I believe the fraudulent ICOs being experienced will be resolved by this platform, security tokens from all looks of things will be greatly adopted
Just as the presence of middle men are eliminated, trust and confidence is assured therein. Also, the incentive it offers users as regards cost of set up has set MOBU high on the charts, with time, they can only get better and fully dominate.
Reference
All images were sourced from
great token and i hope it will help to reduce ico scam and our crypto industry will touch the moon and change the world : )
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Good morning @donnest
You mind if i ask you some question?
MOBU seem to be one of very few ICOs that are completly launched as security token. I wonder why. Wouldn't it be better to come up with some utility to their tokens and launch ICO as a utility token?
And also how will they maintan the price? Does MOBU offer Masternodes or POS to attract hodlers? If I cannot use those tokens and on top of that if there is no POS/masternodes introduced into their structure ... then what would make price go up or at least stay on stable level?
Great post. Upvoted already.
Yours
Piotr
@donnest, I'm waiting for the continuation of the topic
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