95% of Cryptocurrencies will Not Survive in 2018

Dec 01, 2017 at 15:51 // News
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The Blockchain ecosystem suffers explosive growth. According to data from Coinmarketcap just for 11 months in 2017 cryptocurrencies market capitalization grew by 1200%. Investors and hedge funds are fixing unbelievable profits, which they can get from crypto assets, and trying to divert their assets into this niche. Investors are waiting for startups, which will repeat the success of projects like Ethereum (+272397% since ICO) or IOTA (+922448% since ICO).

However, the majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.

Vitalik Buterin, co-founder of Ethereum said:

“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”

As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. As these 5% will be the new center of influence, their token demand will create tremendous growth in their valuation brining hundreds of thousands percent of returns on investments made on early stages.

Investors should understand how it’s important to carefully inspect projects before making a decision to contribute. Projects going for ICO just to attract funds where token does not have any utility usage are in fact the most risky ones. Being used for buy back or represented as kind of equity they are doubtfully legal in most jurisdictions. It’s almost clear that the biggest chance of success there may be in projects exteriorizing the real needs of cryptocurrency wallet owners, like convenient payments solutions, blockchain platforms and infrastructure as well as investment and trading tools.

A great example of project built for everyday use is Qilin.Market - utilizing distributed ledger to enable on-line shopping with cryptocurrencies using deal escrow on smart contracts it allows customers purchase real goods with 100% money back guarantee and grants secure funds transfer for seller.

"We believe that the main purpose of cryptocurrencies on a long distance is to make payments on-line, mainly for buying goods and services.” – Denis Ivannikov, CEO of the Qilin.Market - “We hope that current lack of legal framework for regulating cryptocurrencies will be solved in the near future and Qilin.Market will become the primary engine driving crypto-commerce."

Project team unites experience of developers built next-generation protocol for delivery services “ApiShip” that is widely used by thousands of on-line shops today, ex head of digital in major national bank and professionals in digital marketing and blockchain technologies.

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Idea behind Qilin.Market is quite simple – buyer transfers product price to smart contract that releases funds to the seller only when the product is successfully shipped and accepted by customer.

Transactions take place directly between the buyer and seller, and there are no intermediaries to put additional costs or holds. Due to its P2P (peer-to-peer) nature, goods can be traded directly, easily and what is more important, freely. That genuinely disrupts traditional retail market.

Qilin.Market unique approach involves all e-commerce market participants including delivery services and marketing partners using Qilin Tokens to interact with smart contract.

Qilin Tokens (Qt.) is in the core of all settlements between parties and it has the true spirit of useful digital coins. Sellers need Qt. to confirm new orders and reward Merchants, Delivery services need Qt. to grant safe shipment, Merchants receive Qt. as a reward from Sellers and Buyers may receive discounts in exchange of tokens. That ensures a constant organic token circulation flow.

Qilin Token is not equity, company share or loan. Along with that, it’s quite clear how the Token may grow in value – increasing demand for useful service turns into growing number of protocol participants, though the amount of issued Qt. is limited there may be a deficit one day.

Qilin.Market shows how blockchain technology can be utilized to disrupt $2.2 trillion industry and allow 2.5 Billion unbanked all over the world make their first purchase on-line using cryptocurrencies.

Early contributors need to know what stands behind the token economy that they want to support. We highly recommend studying whitepapers, checking the forum and following the project news on messengers and social networks to pick these 5 right projects revolutionizing the world to gain a worthy reward.

More information about the project:

Website: http://qilin.market

Whitepaper: http://qilin.market/whitepaper

Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.