RiverMount (RM) ICO Review
The RIVERMOUNT project is currently a project created for the decentralization of the global financial market. Our goal at the moment is to overcome the problems of the centralized financial industry and implement a platform to freely make sustainable financial investments anywhere in the world.
The RIVERMOUNT team sets transparent and feasible goals to realize future-oriented values.
Feb 3, 2020 – May 1, 2020
The first blockchain network, Bitcoin was created in 2008 by Satoshi Nakamoto: The birth of bitcoin, which was mentioned in the ‘Peer to Peer Electronic Cash System’ paper, has caused a huge stir in financial and currency markets around the world. Ironically, the publication of the paper “bitcoin,” the first-generation blockchain technology, was on Oct. 31, 2008, the last day of October when the world was in a big recession due to the global financial crisis that was triggered by the collapse of Lehman Brothers Holdings Inc. just a month earlier. It can be seen as a highly symbolic event that the cryptocurrency Bitcoin, which emerged as a rival horse to the real economy, was born almost simultaneously with Lehman Shock.
As the shortcomings of the slow transaction per second (TPS) and lack of scalability of
bitcoin emerged, the second-generation blockchain network ‘Ethereum’ with multi-expansion technology called ‘Smart Contract’ and TPS, four times faster than Bitcoin, appeared in 2014. started blockchain boom, which gave rise to major blockchains and a few thousand tokens, including Ripple, EOS, and Tron, etc. But in the early days of the new industry, there are always big problems. Blockchain, the epitome of fourth industrial technology, is also not free from this issue. The blockchain is a decentralized network that allows everyone in the world to freely enter the blockchain world without borders and the cryptocurrency, a means of economics in the blockchain network world, allows anyone to issue tokens and lead economic life in their own virtual reality. However, as international regulations and national legislation were too slow to the pace of growth of blockchain technology, the confrontation with real currencies such as Dollars and Euros cannot be prevented and new types of scam associated with Cloud Funding of “Initial Coin Offering” (ICO), an act to sell ideas using blockchain technology, became rampant from 2015 to 2018. In addition, using the anonymity and decentralization that are the characteristics of blockchain technology, they misuse the technology for illegal activities such as tax evasion and trafficking of illegal weapons and drugs.
However, the legislation of blockchain and cryptocurrency is becoming faster, starting from developed countries such as Europe and the United States after four years of this period, and the acceptance of blockchain and cryptocurrency is changing from negative attitudes to positive one worldwide. The financial market, which currently relies on the central system, uses the country’s currency for transactions between individuals within the country without any restrictions. However, transactions between countries impose significant restrictions on individuals due to high exchange rates, difficulties in using the system, and differences in national monetary policies. Therefore, it can be seen that the market is somewhat active only in certain classes engaged in related work or for foreign investment. To address this, application in the financial sector using blockchain technology is a very attractive method. As the exchange and finance blockchain networks such as Ripple and Stellar Lumen have emerged in the past, the decentralization technology is being used in international trade.
Blockchain technology, which is used only for simple exchange, can also be used for global investments. Blockchain can also be applied to investment methods such as ETFs, bonds, stocks, etc. to increase the attractiveness of investment, and blockchain & cryptocurrency technology, a system in which real estate transactions can be handled without brokerage fees, can be more effective than any other technology.
The central financial market is currently in sync with the global financial infrastructure and integration with aims to enlarge by expanding diversification and merging with financial institutions. It can be said that they have entered into a limitation on the financial scope and activation of each country, and it can be seen as a solution for building a financial infrastructure without borders. However, proliferation in central systems has problems with excessive data storage and security asymmetry. Blockchain technology is the closest technology to finance, and it is the only existing security technology that is not venerable to the network hacking. A project to build a decentralized financial infrastructure by using blockchain technology to face problems in the current blockchain and financial markets and to provide various financial services and financial information is an inevitable technology that mankind must introduce in the future.
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