At present, there are mainly several ways to raise funds for new projects, such as traditional IPO, ICO in the chain circle, IDO, etc. These methods cannot be said to be absolutely good or bad. They are all products of an adaptive environment. Today, I will share with you the IPCO. , is a new equity issuance model that combines tradition and modernity to avoid bubbles and reduce investors' doubts as much as possible.
Although the title of this article has the word "interpretation", it does not mean that the personal understanding is the most in-depth. If you have a deeper understanding after reading this article, you can raise your hand :)
1. What is IPCO?
IPCO is the abbreviation of Initial Public Commitment Offering, the full name in Chinese: Initial Public Commitment Guaranteed Offering. Is the name a bit confusing? Feel like you're making a fool of yourself? It doesn't matter, look down and explain in detail the simple concepts involved. Because the name is estimated to convey the real information to the audience as much as possible, it is a combination of multiple words. From the name, we can see the down-to-earth concept of IPCO.
2. IPCO , IPO, ICO, IDO classification
IPCO Initial Public Commitment Offering (IPCO for short) is endorsed by the high-quality assets of branded listed companies, and is publicly issued by means of mortgage guarantees through standard digitization. Type bookkeeping and smart contracts solve the problems of data fraud and contract performance, thereby eliminating air projects, supporting the real economy, increasing employment opportunities, and creating national tax revenue.
IPO Initial Public Offering (Initial Public Offering, referred to as IPO) refers to the issuance method of a joint-stock company to the public for the first time.
ICO Initial Coin Offering (ICO), originated from the concept of initial stock offering (IPO) in the stock market, is a blockchain project based on the project's needs to issue tokens for the first time, raising bitcoin, Ethereum and other general data currencies distribution method.
IDO (Uncle Cat proposed this concept, the abbreviation of what word I didn’t find, and IDO will be used instead), the original translation is: “I pay, I send coins, but it is not sold in any form, only used for Rewarding people who help me realize the project idea, as well as those who participate and provide effective contributions in this project, I hope to solve a huge scale collaborative problem in this way.” This concept is explained in detail in Qian Chuanchuan's article (https://bihu.com/article/103869), you can check it out if you are interested. In addition, the concept of IDO and the concept of IBO (Initial Bounty Offering) overlap in part. IBO is the project party initiates a task reward. Everyone completes the reward task through their own time, skills and other resources to obtain the project party's token reward. Typical Apply UCash (https://u.cash). The difference between IBO and IDO is easy to confuse, and there is also an analysis in Qianchuanchuan (https://www.jianshu.com/p/aeff927f86f3), readers can check it out. At least in the initial stages of the project, I personally don't see much difference between the two.
After introducing some basic concepts, returning to the topic of this section, what are the differences between these four methods? Use a table to briefly compare:
Issuing method |
Advantage |
disadvantage |
IPO |
Rigorous distribution, strong brand |
Long cycle and high cost |
ICO |
Easy issuance and fast financing |
More foam, more air items |
IDO / IBO |
Easy issuance, endorsement by investment institutions, win-win cooperation |
Basically, they belong to start-ups. Although the community is jointly built, the success depends on the project party and the degree of community construction. Similar to Internet start-ups, the probability of failure is high. |
IPCO |
Convenient issuance, large-amount financing, brand guarantee, physical operation, repurchase guarantee, solving breakage, increasing employment, and creating tax revenue |
Mortgage issuance of real assets, high requirements for platform asset strength, high requirements for third-party repurchase funds, and high third-party custody credit thresholds |
By comparison, from the perspective of individual investors, the order of security from low to high is ICO->IDO->IPO->IPCO . For the IPCO model, use a diagram to illustrate its structure:
3. IPCO digital asset issuance process
After briefly introducing some concepts of IPCO, let's talk about the process of IPCO digital asset issuance, which is divided into six steps:
1、选择资产：IPCO保证发行平台。
2、购买资产：IPCO保证发行平台机构。
3、抵押担保：IPCO第三方托管机构。
4、发行流通：IPCO第三方流通平台。
5、破发回购：IPCO第三方回购机构。
6、全程监管：IPCO智能合约履约平台。
上述说了那么多，肯定有人会有疑问，为何IPCO听起来更像传统的中心化模式，个人解读认为，在区块链行业的成长期，之前各种方式都有自己的优劣，而IPCO正是综合考虑了各种方式的不足提出的一种新的理念，同时也避免了法律上的纠纷，为更多的实体行业客户布局区块链应用提出了一种新的解决方案。注意，这里提到了实体经济，因为只有更广泛的行业参与，才能一起做大这个行业，而不是目前充斥者各种泡沫及空气项目导致投资人对区块链行业的裹足不前。IPCO的理想是改良IPO及ICO的各种弊端，由各项目方、各基金方、金融机构、上市公司、律所、财税事务所、基金公司、投资公司、区块链技术公司等等组成分布式自治组织（DAO）。在IPCO模式下，将自带市值管理功能，确保投资收益，确保破发触底回购。说了这么多，是不是昏昏欲睡？没关系，文章快结束了：）
四、IPCO中的区块链应用
IPCO模式相当于是实体经济和区块链直接的纽带，其中也会大量运用区块链相关的技术，主要包括：
1、分布式记账：运用去中心化数据库技术，让IPCO平台方、上市方、第三方流通平台、第三方托管机构、第三方回购机构多方参与数据记录，数据一旦上链不可篡改，确保后续运作过程中的公平公正公开。
2、智能合约：IPCO智能合约将与上市公司及各第三方托管机构、回购、流通平台进行交互，当IPCO预先编好的合同条款被触发时，智能合约将自动执行，确保资产安全，流通便捷及破发回购。
五、IPCO商机分析
对于合作伙伴，如何才能参与呢，下面给出一个粗略的商机条目：
1、IPCO发行平台。
2、优质上市公司。
3、第三方担保机构。
4、第三方交易机构。
5、高校及其他研究机构。
等等。
对于普通的投资人，俗称“韭菜”如何参与呢，就是看IPCO相关合作方的资质，参与二级市场或参与pre-sale的方式，其看起来与普通的ICO类似，但因为有实体背书，各种DAO组织审核，相比所谓的大神站台，更靠谱些。
最后提醒一句，入市有风险，投资需谨慎！
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