“I give money, I offer tokens. These tokens will not be sold at any way but given to ones who participate or offer great help to finish the item.---one IBO forerunner.
What is IBO?
IBO，Initial Bounty Offering.The project leaders originate tasks. People with skills and resource participate to finish the tasks and get tokens for rewards.
What’s wrong with ICO?
ICO，Initial Coin Offering, which comes from the concept of IPO but with much less supervision.The item leaders offer tokens to get ETH/BTC and then buy resource and hire people to fulfill the tasks.At this process, token buyers may have on idea about the item, the resource and hired people get from the market may pay little attention to the progress.
Why we need IBO? How the IBO get work?
IBO, the item managers use tokens to interchange skills, resource directly instead of money on the market. People offer resource and skills to get tokens must be cooperators at the whole process. So the item managers and the cooperators will work together firmly for they have one same goal--market accept the tokens when the item is over. So it is a recruit to the item leaders and an investment to the cooperators.
When we construct communities in the near future we will face the difficult about mass cooperation. the IBO solve the problem and the process could be described like this: tasks announce-accept tasks-verify result-get the bonus.We need no centre at this time.
The IBO may face challenge:how to quantitative tasks and verify result.For the fist one the project managers could quantitative the tasks first and then offer them to the market.For the second barrier we can make a consensus mechanism to check the result.
