The volatile nature of cryptocurrency is creating huge issues in the crypto market as the low prices are knocking down aspiring start-ups. Crypto start-ups are cutting down swathes of the workforce due to the market plunge as they are struggling to survive this low phase. Meanwhile, three Ukrainian companies have developed an English-language chatbot that provides consulting services to businesses and investors in the crypto industry.
The platform offers naive start-ups consultation that will guide them in all circumstances. The AI-based platform, Ailo, offers a range of automated services but it can also deal with cases that require human intervention and professional legal advice. Acknowledging the fact that the cryptocurrency market is unpredictable and has many shortcomings associated with it, the app might prove to be a boon to all companies.
The service has n number of features that will prove to be beneficial to all the start-ups in the crypto market. The platform can also advise startups on where to conduct their token sales. One useful feature, for example, determines whether a token is a security (Howey test) and if an initial coin offering (ICO) has the features of a fraudulent scheme (scam test), as mentioned in Bitcoin News. Law firm Juscutum, crypto-payment solutions provider Paytomat and software developer Crypto group are behind the innovative project.
With respect to start-ups, the recent news reports suggest that crypto companies are forced to review their strategies to survive in the market. This year’s market plunge has compelled the newbies to incorporate more efficiency in order to stay in the game.
ConsenSys, a major blockchain software company who employs 1,100 people across 29 countries, has become one of the most recent examples. According to a company-wide letter by CEO Joseph Lubin, the firm is shifting to a new phase for greater efficiency, accountability and attention to revenue and expecting start-ups under their umbrella to follow suit, as reported on Cryptonews. On the whole, start-ups are opting creative ways to sustain in the crypto market.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]