INGOT COIN - BUSINESS ANALYSIS

toluene (47)in #cryptocurrency • 6 years ago (edited)

In this article, I will be conducting an analysis of the INGOT COIN platform by using the SWOT Analysis to evaluate the internal and external factors that may have a positive or negative influence on the development of the project.

The SWOT Analysis is an acronym for Strength, weaknesses (internal factors), opportunities and threat (external factors).

INGOT COIN is a decentralized platform built on the Blockchain with the aim of revolutionizing the financial and cryptocurrency market by creating an ecosystem where investors can have access to both markets without any constraint. It also creates a link between the traditional financial market and the cryptocurrency market.

Strength

In my opinion, the INGOT COIN Exchange is the major strength of this project. The IC exchange in the platform will be integrated with other INGOT COIN components like the IC Wallet, IC Brokerage, and IC Digital Bank, to provide investors with the best trading experience.

The unique aspect of this exchange is that, unlike most exchanges available presently, IC exchange has a feasible exit strategy and it provides traders with amazing financial opportunities with its trading pairs system where traders can successfully trade between different assets like; Crypto VS Crypto, Crypto VS Fiat, Crypto VS Traditional assets, Traditional assets VS Fiat, Fiat VS Fiat. This component of the IC ecosystem will make room for liquidity in both markets and will also drive the whole cryptocurrency market towards mass adoption, as the barriers to entry in the market are already eliminated and traders can have all the trading components they need in a single platform, thereby saving the time and cost incurred in the previous system.

Another apparent strength of the IC Ecosystem is the IC ICO Accelerator. The IC ICO Accelerator is created with the motive of enhancing creativity and innovations in the crypto and financial world by helping entrepreneurs, startups and ICO with the necessary services they need to perform.

Weakness

The IC Ecosystem is a revolution in the crypto and financial market, as it provides solutions to the challenges of both market, along with the solutions are innovations that better serve the good of both market. Despite the amazing features of this platform, it is not without it weakness. In my opinion, the weakness in the platform is the endeavor to eliminate the middlemen and intermediaries in the financial market. Though the move is in the best interest of the traders in the market but the fact that these intermediaries are established institutions with multiple years of existence in the market and a net worth of millions of dollars, eliminating these institutions may prove difficult for INGOT COIN to achieve and may threaten its success because these institutions can spring up with services that will neutralize the threat of exit from INGOT COIN.

Opportunity

The most evident opportunity for the INGOT COIN project is the market (financial and cryptocurrency market) it is seeking to disrupt. Considering the fact that these markets have a combined worth of trillions of dollars (with the crypto market alone worth more than $200 million), and the present inefficiencies and challenges of the markets, providing an innovative solution is an opportunity that should not be miss out on. INGOT COIN being a platform that offers the needed solution and innovation in the markets will make INGOT COIN acceptable by the participants in the market.

Threat

The major threat that INGOT COIN faces is similar to that of every cryptocurrency project, which is mass adoption. The Blockchain technology is still in its infancy stage and its is only still accepted by a smaller fraction of the world, therefore most projects still suffer that same fate, not because they are not good enough but because of the general market condition.

INGOT COIN may also be affected by this threat but it should be able to wave it off by through its innovative features which are aimed at revolutionizing both the financial and cryptocurrency market.

For more information about the INGOT COIN Platform, you can consult the project whitepaper