Place/Date: Singapore - February 23rd, 2018 at 7:39 am UTC · 3 min read
The presence of middlemen in any system has done more damage than good. Be it any market or industry, these middlemen if inefficient can cause large and irreversible damages like the one happened when financial crisis of 2007-8 broke out. It was the result of inefficiencies of financial intermediaries.
A financial intermediary is an institution or individual that serves as a middleman among diverse parties in order to facilitate financial transactions. Common types include commercial banks, investment banks, stockbrokers, pooled investment funds, and stock exchanges. Due to crisis, the trust of investors was shaken on these intermediaries and cryptocurrencies took birth in the form of Bitcoin.
But middlemen do not just slacken the process of growth in financial market, it also hauls talent industry. We have heard cases of casting couches for aspiring actors. Singers, dancers, artistes sometimes have to sell their soul to get to show their art to the world.
Start-up Owners often lose their autonomy due to venture capitalists. And therefore, we needed a platform that eliminates all these middlemen and provide equal opportunities to everybody to prove their worth. SelfSell has provided exactly with the help of Blockchain Technology.
SelfSell is an ICO that allows people to make their investments on expected future value of highly talented individuals. Investees generate money via crowdfunding through self-coin offering. Investees are listed on the platform and investors can make their choices basis on the provided information.
The highest voted individual gets the highest funding. One can ask as many questions and doubts as he/she wants on the project as on SelfSell investees and investors are in direct connection to each other without any middlemen governing the actions of anyone. Investors choose their portfolio on their own call and are dependent on them.
It lowers their risk and provides them full information on where their earnings are being allocated. So, there are no Ponzi schemes and no manipulation of records. It is clean as well as transparent.
Also, the cost of investment is also reduced. There are no brokerage charges, no consultation fees and complete liquidity for investors in case of requirement of immediate funds. You conduct your research on your own but that also is not costly because you are provided with potential options based upon your preferences.
For investees, there are no requirements of collaterals; no costly appraisals and the rate of returns to investors are fixed throughout as the proportion of created value.
This creates a new system of development of talent. The SelfSell model is based on Human Capital Formation and brings investment closer to its essence. This has set new paths of investments as well as talent search and laid foundation of egalitarian society.