Is blockchain marketing scammy? (and what to do about it)

If you're wondering, "Is blockchain a scam??" You're not alone! There are plenty of investing dangers of blockchain to be aware of, and in this video we're going to go over how to know which blockchain to trust and how to avoid bitcoin fraud. So, if you're looking for genuine blockchain marketing strategies, the advice Eric Siu shares in this video is to do your homework. If you're wondering how to research blockchain marketing companies, start with looking at the other ICO's that the marketing company has helped in the past - this will give you a lead into whether this company is legit. The SEC is still researching a lot of these companies because of how new the industry is, but the reality is, there are plenty of great companies, you just need to do your due diligence in your investing strategies before committing.
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Read on to find out what exactly blockchain is and how it’s being applied to marketing (with some real-life examples) In this in depth article from Eric:


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Full Transcript of The Video

Eric Siu: In this video, we're going to talk about if blockchain marketing is scammy and, well, what you can do about it if it is. So, first and foremost, I think it's really important to talk about the current climate as of 2017-2018 and what's going on. I'll give you a story right here. I went to a blockchain conference recently, and what I found was this: You have a lot of companies that are pitching their initial coin offering, so, you know, you can do these initial coin offerings where you can offer your tokens for your company available for people to invest in. You basically do this on the Ethereum technology. A lot of people that are pitching these initial coin offerings or ICOs, they have nothing that they're selling; they basically have a white paper, and they're doing a lot of PR, and they're just trying to get a lot of people to invest.
The problem right now with this climate is that they're investing in nothing. There's a company named Tezos, they raised about $232 million through their ICO, and now they're getting ... I think the SEC is coming after them, and they're having a war amongst the founders, the people managing the money, or the banks. It's crazy how they raised so much money, but the people that invested essentially are investing in nothing. They're not getting any equity, they're getting the token, but you don't know what's going to happen with the token. Literally, they can take the money and run with it. And people are just continuing to do these PR hits, people are writing these white papers, it doesn't say much about the team, it doesn't say much about the technology, it's just a bunch of crap.
But here's the good thing about the climate. In the early days of the Internet, or you think about the early days of even Google, for example, a lot of black hat SEOs, you think about the early days of the Internet, a lot of kind of dark affiliate marketing going on, and even with the Internet coming out, the dot com bust, you weren't sure about what was real and what's fake so the answer right now is yes, blockchain marketing can appear scammy but, I do think things are gonna calm down in the future and the people that are doing dirty things, are gonna be eliminated and then things are gonna be a lot safer, I think, to come into, in terms of starting a blockchain business in terms of marketing in the blockchain world as well.
If you're marketing for a blockchain company, you need to make sure that you protect yourself right now because if you become affiliated with these blockchain companies, and let's say the SEC comes after them, let's say you're in the United States, or the government comes after whatever company that you helped, in whatever country, you could be liable as well. It's important from my prospective that you cover all your bases because you don't know what's going on with this space right now. The SEC's really looking into it. And then also, on the other side, if you have a blockchain company and you are looking to find someone to help market, you've gotta look at their background too, what's their track record, who's on their team, what have they done exactly. Let's say they've worked with a lot of crypto companies, great, what kind of results have they brought. Crypto, blockchain, whatever you wanna call it. Or, you can look at a more established firm, what are they doing, what's their team about, what do they understand about blockchain, what do they understand about your company. It's the same thing as interviewing people. You have to make sure that you know how to interview people.
So, if you like videos like this around blockchain, around hiring in general, just about business in general, subscribe and we'll see you in the next one.

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