Smart Contract Audit – a good Marketing

11/11/2018

Florian Protschka

administrator

Companies that start an ICO or STO have to do a lot of marketing. The days when they just put a Whitepaper online and investors overwhelm them with money are over – and that’s a good thing! Because in times where every startup received a lot of money, many startups went bankrupt. Much money were lost and the ICO market was damaged. Today, investors look closely at companies that make a crowdsale (ICO or STO):
Who are the founders, what are their experiences? Is there a market for the product? Is there an MVP?

An important part of every crowdsale is marketing. For two reasons: Once the companies need to attract attention, that is not a big surprise. Investors can only invest in a company that they know. But also, good marketing shows that the founders are professional, that they are creative and able to organize.

Today a smart contract audit is good marketing

A smart contract is based on hard facts. There is no untechnical creativity, no personal interpretation, whether it is well developed or not. At the same time, a well-developed smart contract costs money. Either companies are hire an external development company or they have their own good developers in the team. A good smart contract means that the company acts professionally and strives for quality, and that also can be paid. Now, when the audit is conducted by a reputable company, it shows that the founders have enough money for a professional audit. But also that they are willing to audit their code from external professional. If the result shows that the smart contract is developed good, secure and there are no errors, then this is a good sign for investors.

Many ICOs have failed because of their founders, who did not act professionally. A smart contract audit by a reputable company does not say that the founders are professionals, however, it increases the likelihood that the founders are not beginners. For the founders, a smart contract audit is therefore good marketing. It speaks for the smart contract and for themselves!