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Ellcrys ICO review and rating

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We are building a protocol that lets anyone, anywhere to co-create, co-own and co-manage software products and services. Ellcrys ICO rating – not rated.

ICO Ellcrys Visit Ellcrys ICO site

PRE ICO Dates : 01/07/19 – 14/07/19
Upcoming ICO : 15/07/19 – 31/07/19

ICO rating

About Ellcrys ICO (token sale)

Ellcrys ICO is a blockchain-based tool for creating open, transparent and multi-owned software products and organisations. Ellcrys ICO allows people (e.g. developer, designers, end-users, investors) build a community dedicated to the creation and management of software products in an open and transparent approach. By providing a decentralised git hosting service, decentralised governance, cryptocurrency and self-executing functions (a.k.a Smart Contract), Ellcrys ICO will pioneer a new shift where anyone can truly own a part of a software or business entity while having the ability to contribute skills, participate in governance and revenue sharing.

Ellcrys ICO exists to provide a system that allows people to build software products and organizations openly, remotely without the frictions created by mistrust between collaborators. We have found out that this mistrust is caused by disagreements in how resources are utilized and managed. Because the world mostly operates on centralized basis where most businesses assume clients operate a central governance structure, they require one person to maintain an account and provide services to this individual. This setup cannot work for communities where equal ownership is expected. They cannot entrust shared resources to an individual to act on their behalf. There is also no way to prevent this individual to adhere to community wishes which means any punishment for bad action will be carried out after the fact when damage is down and expensive to fix.

Platform Censorship

Users are increasingly threatened by the ability of service providers to censor opinions that do not resonate with their beliefs or those of their customers. Why censorship of opinions and ideas may be unquestionable in some instances, the power these services wield can and have deprived many users’ their rights and means of livelihood.

Data Ownership & Privacy

Most platform on the internet allow users to use their services for free. But the catch here is that majority of these platforms sell users’ data to third-party agents without clear and explicit consent of users. This practice expose users to intrusive and targetted advertising, identity theft and losses. They have no way to truly own, manage and authorize access to their data.

Single Ownership Architecture

Collaborative platforms (e.g. code-sharing platforms) only support single-owner architecture where one user, by default, is granted complete control of all resources – This kind of ownership structure and assumption is not right for communities of individuals who share little or nothing in common and have no basis for trust.

Shared Ownership

Open communities will create assets and resources that are owned by members. There needs to be a mechanism by which ownership is proved, verified and enforced in a transparent and replicable way. Additionally, collective resources need to render themselves to be administered using the governance structure setup by members.

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Source : ICOnow

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Founder and Editor-in-Chief of ‘Coinotizia’. Technology Evangelist, Security Analyst, Cryptocurrency Investor, Certified Cyber Security Expert and Web Applications Developer.