Initial coin offering or ICO is word play for a traditional crowd funding scheme for many. This word has since drawn many sarcasms and mainly negative connotations. When friends of mine asked why can’t we find the word ICO on Linfinity website. My answer to them is “No, we are not going for ICO.” And that comes with a smile. Friend are then puzzled and have since asked me tons of questions on why we are not going for the ICO game play. So let me explain why:
1. We believe in our product and ourselves!
At the start of this journey, the team fees that there is no need to get funding from the public at the start. If we are confident with our products, we should find our own ways to fund it.
2. Negative connotations
There are a lot of negative connotations right now as I have mentioned earlier. We want to avoid being part of the negative gang, tagging us as scam. In the mainstream newspaper today, they have mentioned that many ICOs are only documents of whitepaper and it does not have details. This says a lot and this is something we will not do.
3. Great products take a lot of time and energy to get right
ICO allows many concepts to be rich over night. But many turned out to be not sustainable. So by not going for an ICO. We hope this can instill confidence to the business community that we are intending to work with.
4. Committed to build a sustainable ecosystem using blockchain
We want a sustainable ecosystem! We will create a co-building plan in months to come where the general and business community contribute to our ecosystem to get our LFT tokens. They can be helping us in terms of marketing contributions, technology inputs or community building.
Don’t get me wrong. ICO is not always a bad thing. It is a decision that has to be made strategically. If the crypto currencies are being manage better and with better regulations. The vision of crypto becoming mainstreams can be near.
Just like Linfinity, we build our business around great people who want to make a difference for the community. So far, we have been fortunate and since our inception, there are SMEs, MNCs and Fortune 500 companies that like our concept, we are all looking forward to doing more for the community.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.