|I agree Glenn but that is where I doubted they could drive out costs, have an international platform and charge next to nothing. I watched a 6.5 hour conference that Start Engine put on and was amazed that so many folks didn't understand the potential regulations they could run afoul. There were attorneys aplenty there and they kept referring back to existing laws. I am seeing a lot of practices that would not be allowed at major financial institutions and most of the people investing seem to be unaccredited so not sure they understand the risk. |
It sounds really cool to drive down cost for firms that go public that are "hot" but for every "hot" underwriting there are 10 that fail to attract interest. I think this can be huge but w/o significant oversight and controls not sure how that happens in platforms like the one posted (forget name). Maybe they can solve most of those problems via Blockchain technology but I doubt that we are close to having all significant players up to speed.
This solves a whole host of problems but potentially creates others. Undoubtedly there will be opportunity there to create solutions. I am investing with monopoly money for the time being just to get a feel for how downstream activities will work. For instance, I can buy stocks in my account and every company will be held in s/n and reporting will occur for everything collectively. That is not how it will work with ICOs as I understand. Every investment will live on its own and each will communicate directly to me.