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RICO - Making ICOs Fair, By Making Them Reversible

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RICO - Making ICOs Fair, By Making Them Reversible

Duration: 00:20:59

Speaker: Fabian Vogelsteller

Type: Talk

Expertise: Intermediate

Event: Devcon 4

Date: Oct 2018

The ERC 20 had far more impact than I expected when I proposed the draft in November 2015. The massive amounts of ICOs following the adoption of this standard led to money collection becoming a breeze. As much as this democratised the space, it also led to massive amounts of money being collected, where not all projects lived up to the expectation they created, while opening the door to not ICO-able projects, as well as outright scams. It's time to bring back balance, by letting participants decide if they deem a project worthy their funding - over time. The RICO, or Reversible ICO is a proposal I introduced a few months back that has the potential to make ICOs more fair. This happens by releasing the funds over time and giving each participant the power to cut his funding to the project at any time.

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About the speakers

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Fabian Vogelsteller

web3.js Developer CEO

Fabian Vogelsteller joined Ethereum before the network started in January 2015, he build the Ethereum Wallet, which was the first app to enable smart contract interaction for non-tech people, as well as the Mist Browser - the first decentralised web 3.0 Browser. He work worked on the RPC API and still works on developer tools like web3.js - the Ethereum space's most used JavaScript library. He proposed the ERC20 token standard, and ERC725 Identity standard, and now builds LUKSO, the Fashion and Design Industry Blockchain an Ethereum sister network.

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