BLOCKCHAIN SECRETS
known as Gnosis sold $12..5 million worth of a token called GNO in just over ten minutes. The sale was intended to pay for the development of an advanced prediction market. The initial coin offering, ICO, received rave reviews across the global press.
On that same day, a company called OneCoin, based in Mumbai, India, was in the middle of a sales pitch for its own digital currency when their offices were raided by financial enforcement officers. In the end, eighteen OneCoin reps were jailed, and more than $2 million in investor funds were seized. Multiple authorities describe OneCoin, which was being touted as the next bitcoin, as a Ponzi scheme. By the time the offices in Mumbai were raided, the company had already moved at least $350 million in scammed funds.
Since there are no checks and balances to govern the execution of ICOs, if you are going to invest in a coin, you need to ensure that you aren’t investing in any random idea that could turn out to be a scam.
Major Hurdles of Blockchain Currently, there are significant hurdles in the way of formally legalizing and regulating crypto trades. Similar challenges exist with market growth and adoption. Some of the issues surrounding blockchain include, what kinds of tax structures are right for 50
