Once again we are excited to share with you the answers to the questions our community has asked during the last session! We covered a lot of topics, which is why we have decided to split the post into three! So, the first part of the AMA with the GIIS INITIATIVE speaker is here!
Q1) Can you briefly describe what is GIIS INITIATIVE ?
We would like to know more about it and how it works.
I won't be going into much detail, as it can get rather technically boring for some of the readers. But the essence of it is that GIIS stands for Global ICO Insurance System. As the name suggests, we are looking to act as an insurance system for the less fortunate ICO projects, therefore giving them a second chance, whilst protecting the investment amount of the ICO participants.
Q2) What are your main features that distinguish you from other similar projects and what competitive advantages do you have ahead of them?
Well, to be honest, there are simply no competitors in this process so far. At least to my knowledge.
Most of the ICO projects and blockchain projects generally are focused on their own thing, they do not expand into other projects and collaborations. As opposed to this, we in fact do and constantly look for new partnerships that everyone can benefit from: us, the partner and especially the customers.
In fact the whole idea of the GIIS appeared once we successfully worked through our own insurance that we promised back in the pre-ICO days. Having seen how happy the clients were, the idea to expand into 'not our own' projects arose.
Q3) How does an ico project apply for GIIS?
It's quite simple - the contact form on the official GIIS page is the easiest way to get in touch with us and certainly to get our attention. A member of the team would then reply to schedule an online chat and to take it from there. There is a simple questionnaire for such projects which helps us to quickly understand where we can assist. However, please note that not any ICO project can be accepted as our specialized department does the necessary checks to avoid scammers and otherwise bad projects.
You can learn more here.
Q4) How is community important for an initiative project like GIIS INITIATIVE? And how do you wish to expand the community?
Of course a large and understanding community is always beneficial to any project. The faster the word spreads - the better! That is one of the reasons we enjoy having been invited to such communities as yours! Since we have been on the market for a number of years, we have a great team of specialists that know how to promote such online projects, get a large reach and target the needed communities. But, of course, this works even better when a product or a service is outstanding and helps people to save and even earn on their investment. That's why we have a number of specialists that do their best to deliver a product beneficial for all parties involved, whilst the 'online guys' do their best to reach out to the larger audience
Q5) What are the upcoming development in GIIS INITIATIVE that will be reflected soon as per the roadmap?
Well, in terms of the overall development we are looking for the new projects as we speak, we conduct our research on some of the projects that we've already been in touch with and are looking to onboard some that were verified. Moreover, anyone can see the roadmap and the phases of the projects on the website, it's obviously not a secret and we encourage people to check it frequently!
At the bottom of the GIIS page one can see the projects and their relative phases. Additionally, we announce our current discussions with the other projects on all sorts of social media, so please subscribe to be up-to-date.
Q6) Many hobbyist investors (with little to no expertise of the crypto industry) continue to invest enormous sums of money in order to get fraudulent tokens. What are the major features or benefits of your token that set it apart from others on the market?
That's an interesting and quite spicy question, thanks for asking!
So, first of all, I'd like to say that it's not only the casual crypto investors who occasionally fall into such traps, but some of the most experienced ones too. In the end, any investment, crypto included, is just another business opportunity, and as we know even people like Bezos or Buffett had and probably will have bad investments.
With that being said, there is a key discrepancy with what we offer. We do NOT sell any tokens, in fact we do not have them. What we do is take the existing tokens of the less successful projects and make them work better via creating an entire ecosystem for them, help them get integrated, listed on the exchanges etc. All of this happens whilst the token holders get to receive compensation for their initial investment, as well as make some profit in some cases.
Moreover, we strongly encourage individuals and companies to help us out by having created an amazing referral system that allows one to earn even without having the tokens in question.
Q7) Your Service reimburses the lost market value of different coins. My question is what all steps want to complete to get reimbursement for a coin ? Is easy to get reimbursement for a coin?
It is not as simple as sending an SMS with your card number, of course, but it is fairly easy overall. First of all, one obviously needs to get in touch with us, even if the project hasn't contacted us, we welcome the holders to do so. Obviously, there are some security-related processes involved, but in the end, one can expect to receive compensation quickly, or if they are looking to make a profit too - a little longer, but clearly profits can be quite nice.
For more details I'd leave this here:
Q8) A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is GIIS initiative planning to build its community? And is there a plan to recruit people with Blockchain experience to the GIIS initiative team?
A question similar to the topic of community building. Let me elaborate a little, since it seems to be a focus for some!
Communities are indeed important and we constantly work to build our current audience, not only in quantity, but also in quality - we frequently hold educational webinars, post various news and other educational information.
We do have a strong team that allows us to tackle such projects with confidence, no matter how technically complex they might seem. We have had our experience delivered through our own ICO back a few years back, which allows us to use the knowledge and experience nowadays for the GIIS Initiative. However, as I've said before, we are always on the move, so if we spot some partnership that can benefit everyone, including blockchain specialists - we would certainly discuss the possibility. Nevertheless, we are currently very confident in our specialists and how the processes are being developed!
Q9) Users quite often fall into losses from ICO/ IEO /defi due to unforeseen circumstances. How much of the losses can GIIS Initiative hope to cover and How do you raise the funds to do so?
Of course risks are important to foresee where possible, calculate and cover. That is why we carefully check the projects to avoid scamming ICOs, not only to protect the entire GIIS from unnecessary losses, but also to save time in the future.
However, an important idea is to understand that we do not collect any funds, but rather 'give them out' by using the current ICO projects that we partner with under the GIIS. We help the projects, make sure that their investors receive compensation for the lost market value and monetarily thank our referrals too!
Q10) Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?
Well, I actually mentioned some of the backstory in one of the previous answers. So, back in the day when we hadn't even announced an ICO we were thinking how to distinguish ourselves from thousands of other ICOs - what would the more conventional investors look for? Safety! This gave us an idea to work out a possible backup plan for the investors in case things didn't work out, and in fact that's what attracted many of the investors, the idea that either way they will benefit.
Once that was successfully implemented and we looked at the crypto community in general - many ICO projects were not so lucky. These two things, basically, gave an idea to create the GIIS and use other tokens and ICO projects, build similar insurance systems for them that would allow those (sometimes half-dead) projects to move forward, make their investors / token holders happy and obviously make the entire crypto industry a little bit better for everyone!
Perhaps, the story is not so inspiring like Newton's apple, but it's true!)
Q11) Do you have an Ambassador program? If yes, how can I be one?
That's an interesting question, partially mentioned by me. We have an affiliate program that allows one, just like you, to earn by promoting our project and bringing the ICO projects. I won't go into details about it here, please check the web-site.
Q12) For the customers the biggest benefit is obviously the ability to receive a compensation for the lost market value, that is get a remuneration on what they lost.
In terms of the methods - we adopt all that work: minimising negative reputation, integration with various platforms, crypto exchanges and frameworks that allow us to promote a certain token. It might differ for some, but the general idea is the same.
Q13) What are the benefits for customers using GIIS INITIATIVES in the future? To develop this GIIS INITIATIVES project for a long time and attract users, what method do you use to manage - minimize the negative impact of the risk?
I agree. Well, not only that we've been in the market prior to the ICO, a long time that is, but we also do not ask for anyone's funds. We do not have some GIIS token, neither do we accept any other form of payment from the ICO projects or their token's holders. So it's hard to imagine a rug being pulled when there is simply nothing for us to pull. Hope it makes sense.
So many Rug Pulls happening nowadays. and almost 90% project with anonymous team do rug pulled. How can we sure that You are not like them and we can invest in your project safely?
Okay, just to cover a few more in one shot: we do not discriminate based on the geography, the experience or the reputation of the inventors, we simply look for the projects that we can work with and make them work.
In terms of the future vision. Yes, crypto is becoming more accepted, even by the government, even if they say differently. It is the inevitable future and is coming. We would like to be the safety net for some of the projects, whilst making some of the investors happy and obviously make some profit in the process.