Researching Technicals & Analysis: ICX/ICON a/k/a 'Korean Ethereum'
This is not a recommendation to buy or sell. This is for entertainment purposes only
Whitepaper Cliffnotes
Icon is aiming to hyperconnect the world
“Generally, the majority of blockchain projects place emphasis on their decentralization methodology and lack evidence of adoption in the real world due to their technological and business limitations.”
"Connecting crypto to the real world. The ICON Network is comprised of various institutions ranging from: financial institutions, insurance companies, hospitals, universities and more."
"ICON aims to eradicate the various boundaries that have existed in the centralized system. Imagine stock investors in Korea trading Apple stocks in real time with US stock investors, or medical researchers at Korean university hospitals obtaining permission to work with diabetes patients’ data from Sydney or London."
"Anyone can create a new blockchain project and join the network"
Technical Analysis
Currently testing level of support (0.0003)
Expect this to break down and retest 0.00025
If that breaks then I would expect 0.0001 to be the final area of consolidation
Conclusion
Was not interested at all until I read,
“Imagine stock investors in Korea trading Apple stocks in real time with US stock investors, or medical researchers at Korean university hospitals obtaining permission to work with diabetes patients’ data from Sydney or London.”
I fully believe that the world needs a blockchain for this. However, I think it is still far too early to buy into this type of project.
I don't invest in imagination. I invest in working products that solve real world problems.
What ICX promises would certainly solve many real world problems, but it remains to be seen if they will be the ones to pull it off. Even if they have a working prototype, can you imagine how much red tape they will need to cut through? In my opinion we are years (5 - 10+) away from this technology being adopted on a global scale.
If they do pull it off then it is something I would be very interested in holding long term.
Comment is you like and definitely finger that follow
