Tokocrypto Launches Launchpad Store as an "Initial Exchange Offering" Platform

Tokocrypto, a cryptocurrency trading platform, introduces a new product called "Toko Launchpad". That is in the form of a platform that bridges projects blockchain with the Initial Exchange Offering (IEO) mechanism.

In this initiative, Tokocrypto introduced Swipe as the first partner to conduct IEO. Tokocrypto CCO Teguh Kurniawan Harmanda explained that this mechanism was their choice because it had the advantages of the mechanism Initial Coin Offering (ICO) which was better known earlier.

Manda called IEO superior in terms of security. Because startup developers blockchain must follow due dilligence by the crypto trading platform. This will automatically create a sense of security for investors who will participate in crowdfunding in the IEO.

"Because everything will be guaranteed by exchange that," said Manda.

Another point underlined by tokocrypto through this IEO is the certainty of "flooring" in the place of buying and selling crypto. This guarantee is not available when using the ICO mechanism.

It is common knowledge, ICO scams have occurred several times as the cryptocurrency industry grows. This gap gave birth to the IEO mechanism as a new strategy for startups blockchain to get funding.

Swipe itself is a startup blockchain from Singapore. This startup offers data owners more control to make monetization of their data more fair. In other words, the purchase of data will only occur with the permission of the user.

Swipe's CTO Andrew Marchen gave an example, if a company needs data for its project, Swipe will find data according to the company's needs. Swipe's technology allows them to help research companies get the data they need with consensus and rewards for data owners.

tokocrypto claims that it is the first cryptocurrency trading platform to conduct an IEO in Indonesia. Lack of public knowledge of IEOs, as well as cryptocurrencies and blockchain in general, is Tokocrypto's main challenge.

Manda emphasizes community-based literacy education as an important factor to expand their business. Tokocrypto has so far gathered 20 thousand community members.

However, Manda said that his party could not do this alone. He encourages industry players blockchain and local cryptocurrencies are more vibrant. The problem he highlighted is that crypto currency issuers in Indonesia do not yet have impressive technology so that the industry blockchain mostly filled by players from abroad.

“The problem is that they are good at marketing but they are not smart in making applications," concluded Manda.

Tokocrypto itself is a cryptocurrency trading platform fronted by domestic faces, side by side with other local players such as the more popular Indodax. The transaction volume on Tokocrypto has reached IDR 4 billion per day. They target the volume to increase 20-fold to Rp80 billion by the end of this year.