PREON INSTITUTE – CRYPTO COMMUNITY SUPPORT

Experts have predicted for some time that the monetary system is undergoing radical changes and significant crises. One of the solutions that is slowly entering the financial sphere is digital or cryptocurrency (Bitcoin, Ethereum, and the like). Despite its vast potential, the crypto market remains confusing and complicated, and this is why there are problems and abuses. In the standardization of procedures and global aid in regulating the market, we have developed a professional platform that will help to improve the market’s situation.

When starting to plan “Project Phoenix”, we carefully examined the functioning of the decentralized market of cryptocurrencies, as a financing option. We found many errors and possible improvements that could contribute to the development of this market in the long run.

We especially devoted ourselves to the project of placing a new Initial Coin Offering (ICO). This form represents an innovative way of financing projects, with many advantages that are not found in the existing, evolving forms of financing.

The number of ICO projects and the amount of money collected through this platform is continually increasing. The billions turn out to come from small investors around the globe.

Since the market is still in its infancy, the rules of the game are rather loose, the activities are under-controlled, and the errors and abuses are not appropriately sanctioned. That is why many exploit the ICO platform for financial scams – they collect money from investors, but the projects are not carried out. Thus, the investors remain without a stake, while the others are enriched. And because they do not have any financial obligations to investors, they will avoid the consequences.

Therefore, the result has been growing demands of cheated investors, national regulators and other actors involved in the process, for more efficient supervision of procedures and the introduction of standardized regulators.

They would enact new rules of the game and separate the bad from quality ones. The problem lies in the fact that ICO platforms (at present) do not represent a problem for countries to deal with in the priority, holistic, and global context.

Otherwise, certain investor protection authorities are trying to introduce some control over ICO projects, but at the moment this has been quite unsuccessful.

The fact is that many years may pass before the government bodies can introduce quality market surveillance and, through the proper detection and sanctioning of offenders, create a healthy business environment.

To stabilize the market as quickly as possible, we have addressed the solutions on the other side: through direct communication with potential investors, which we offer an audit or professional verification of ICO projects even before they come to the market.

We have designed and launched the first global, academic, non-profit, and professional platform that operates within the Preon Institute.

It represents the bridge between the community (financial investors) and the founders of ICO projects (recipients of funds). The platform enables assessing the real and potential value of ICOs or similar projects, with a clearly-defined certification and a professionally recognized assessment system.

This means that potential investors will now be able to ask in advance how feasible an ICO project is, what profit potential it may bring and what should be considered as investors. The evaluation of the project will not be carried out by self-proclaimed or even anonymous experts, united in a commission (what is happening now), but trained experts with many years of experience and a proven success rate in similar tasks. These include, in particular, auditors, accountants, lawyers, block chain technology experts, top crypto marketing experts, project supervisors, etc.

Most experts work in credible institutions (banks, funds, eminent companies, …), where all they do the same activity: evaluate projects and point out inconsistencies, irregularities, under-performing activities, unrealistic forecasts, and misleading conclusions. That’s why they are able to detect potential frauds.

They will now, in the same way, also check ICO projects and present their findings, whether positive or negative, to the general public.

For this purpose, they will issue a “Community Trust Certificate” (CTC), which will summarize their professional findings through an assessment on a scale from 1 to 5. Considering that, according to some data, more than 90% of ICO projects do not fulfil the announced promises – most of them do not even come to the market; only collect money and disappear – the CTC can be a key indicator or at least helpful tool of whether it is safe to invest in the project.

Find out more: https://preoninstitute.org