The Creator of the ERC-20 standard offers a " reversible ICO»

[Paha87]

The developer, who formalized the code underlying the majority of ICOS working with ERC-20 tokens, proposed a more secure approach to participation in crowdfunding for investors.

Speaking in Prague on Devcon4, annual conference of the developers of Ethereum, Fabian Vogelstein proposed "reversible ICO" or the RICO scheme in which the token-investors can withdraw your funds at any stage of the life of the project. In particular, the concept involves the creation of a special smart contract that allows investors to "cancel their financing obligations".

Vogelstein told the audience:

You can withdraw the funds you have sent at any given time and do so by simply sending your tokens back. Once the ether (ETH) has been returned, other investors can buy the project tokens. Since this is likely to lead to fluctuations in the cost underlying the project, startups will need some basic funding from private investors outside the ICO.

According to Vogelsanger, Taco method "makes fraud unlikely," because investors can withdraw funds at any time, and startups conductive ICO more directly stimulated to fulfil their promises. In addition, this approach "allows projects to fail naturally, without the risk of loss of investors 'funds".

Vogelsanger tak said at the conference that many companies, divodasa sale of tokens deviate from the vision of decentralization Ethereum. According to the developer, "flooded with large amounts of capital at an early stage, projects buy Lamborghini, instead of doing something useful."

Because of its role in the boom of the ICO as the author of the standard ERC-20, Vogelstein said he was "obliged to come up with something better."

The first step for RICO is to test the code in an independent environment. To this end, the developer will implement this method as part of its own startup, blockchain fashion industry and design AOD called Lukso. As said Vogelstein the audience: "This returns the balance between the community and the project, and I think it's really important."

Link to the source of information (Russian) - https://altstake.io/news/sozdately-standartaerc-20-predlagaetobratimoe-ico