Key Learnings From the Smart Containers ICO
Disclaimer: This article is for educational purposes only and does not provide financial or investment advice. The reader is aware that there are special risks involved in dealing with blockchain and cryptocurrency assets.
ICOs are everywhere, and the reasons to conduct them are as wide-ranging as the project that does them. From startup crowd financing to growth financing and from small businesses to global running companies. Since the ICO is still a very new way of funding, it is more an art than a science. I am a professional advisor in the ICO space and want to share some crucial learnings I made together with my client Smart Containers.
To give you a frame of reference for the findings presented below here is a short introduction to Smart Containers.
Smart Containers Group is a Swiss high-tech container provider aiming to create the first fully autonomous container based on blockchain technology, consequently disrupting the logistics industry.
Blockchain-based software and an IoT infrastructure is the core of Smart Containers Group firm technological ground, enabling to track and monitor each container around the world and making Smart Containers Group the largest provider of IoT air freight containers on the market.
The combination of hardware, software, and service enables Smart Containers Group to assertively position its division company SkyCell among the top four providers of pharma containers in the industry.
Through the FoodGuardians division, the next generation of reusable containers and boxes to transport temperature sensitive food products will be offered regionally and globally, preserving the product’s freshness and traceability.
Using blockchain as transformative technology in logistics, Smart Containers Group is driven by the opportunity to create the LOGI CHAIN, a fully integrated, seamless logistic ecosystem that will be accessible to all industry players at minimal cost. Therefore, Smart Containers Group will lead the way towards a more efficient, client-centric and cost-effective industry standard.
General Observations — Timeline, Workload, and Resources
The minimum time needed to prepare an ICO is about six months. If possible try to plan for eight months or more. Keep in mind that too much time is also wrong because you are acting in an environment that is changing very fast; including market fluctuations that can work for or against you. Prepare to be able to adapt to last minute changes.
Your workload will be about 70 hours per week (including weekends). Plan accordingly.
To conduct an ICO, you will need something in the ballpark of € 2M. Used for lawyers, advisors, additional human resources, agencies, and so on.