The World’s Biggest Tech Corporation Microsoft Is Venturing Into ICOs

Microsoft has started venturing into ICOs which proves they are not dead. In today’s blockchain news we see what Microsoft’s plans are.

The cloud computing service Microsoft Azure listed Stratis a while back in its products list, which offers a web-based app that makes possible for initial coin offering projects to easily manage token distribution. This makes it easy for customers to purchase ICO tokens before the initial allocation and can pay with Strat or Bitcoin.

Microsoft entered the ICO space after a year of holding back in the crypto sector since in 2017 ICO projects were raising millions of dollars but that wasn’t the case in 2018. Most of the projects failed to provide a practical use or a product so at the same time they disappeared with the invested money altogether.

However, by implementing Stratis, Microsoft is taking the fraudulent nature of ICOs seriously. To the platform, a risk management software named Onfido was integrated which makes it easy to verify documents that ICO participants submit as a part of the know-your-customer process.

The reason why ICO projects are not going away is because of the few successful ones in 2018. The blockchain project Block.One/EOS managed to raise more than $4 billion in a bearish year and another one known as Telegram also raised $1.7 billion and built a blockchain protocol.

2018 was not the year when the ICO market was failing but only the smart investors remained on the market. They chose wisely and invested in real projects with real business models. 50% of the ICOs launched last year had no product and failed.