By When a company using blockchain or cryptocurrency is looking for ways in which to fund a project, ICO (initial coin offering ) is the first port-of-call. This acts as a means for investors to purchase the project’s tokens and pay in a cryptocurrency, such as Ethereum or Bitcoin.
This offers startups a way to quickly gain funding in the hopes of breaking into the cryptocurrency market.
Very quickly, however, ICOs in their “traditional” form has received a lot of negative attention because of fraudulent fundraisers, problematic projects, and scamming startups which have plundered funds from vulnerable investors with false promises.
The lesser-known – and more reputable – reverse initial coin offering works similarly to a traditional coin offering but offers security from reputation. A reverse ICO uses the same process of an ICO to tokenize or decentralize their business by using blockchain technology as a platform on which to operate.
Simply, a ‘traditional’ ICO aims to gain funding very quickly in order to launch a new blockchain business or project, while a ‘reverse’ ICO sees an already established company raise funds owing to a new blockchain or decentralize token component of their project.
BRAVO Pay is one of the few companies to be in the position to be holding a true reverse ICO. Because BRAVO Pay has been building and operating over the last four years, it has already proven its concept as trustworthy and successful. Now, in order to offer customers more features and anonymity in payments, BRAVO Pay is launching its own blockchain platform as a business which is already well-established.
Owing to the exciting venture into blockchain, BRAVO Pay is holding a reverse ICO to expand the company and raise funds to make the transition into tokenizing the platform one which is smooth sailing.
BRAVO Pay is going the reverse ICO route since it is able to prove its trustworthiness over the years of operating and building its reputation. Not only is BRAVO Pay recognized and accepted, but it is also innovative in its approach to the new technology. In order to offer customers the best of all aspects of the blockchain, BRAVO Pay is developing its own Hybrid Blockchain Protocol which will enable developers to leverage an already tried and tested concept. The successful business is looking to integrate their current system with one which allows blockchain payments. This will enable customers to enjoy enhanced privacy, speed and low fees for international payments.
Furthermore, BRAVO Pay offers a project with a wealth of knowledge backing it. Looking at the team’s experience and the company has years of experience in business and technology.
Co-founder and CEO Maria Del Carmen Luna has over two decades’ worth of experience in marketing and managing consumer and healthcare at top companies. Co-founder and COO Dr. Hector Rodriguez-Luna, a doctor, researcher, and blockchain aficionado sparked his technological experience when in ANN in his prediction of cancer recurrence. Also on the team is technology and blockchain expert Paul Nguyen who has over 20 years in software engineering and has held CTO positions at companies such as AT&T and Accenture. The CTO, Elmer Morales has accrued over 17 years of experience building innovative software and leading high-performance engineering teams at companies like Microsoft, Accenture, and American Express.
Unlike other ICO projects, BRAVO Pay also has tens of thousands of current users already on the platform and has completed millions of dollars in successful transactions. This offers a unique sense of security in an industry where caution is advised. BRAVO Pay is able to set itself apart from other projects as it has intentionally chosen to prove the project’s concept with success before embarking on the fundraising. Having been researching, recruiting and developing the blockchain protocol behind the scenes since early 2017, BRAVO Pay now feels offers a reverse ICO like no other.
Are there any other reverse ICOs that you feel are worth mentioning, drop us a comment in the comment section below!
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