What’s Up With the Paragon ICO?

Another outlet has an interesting piece about Paragon, the rapper-endorsed, apparently-marijuana-related ICO that has everyone talking.

According to this outlet, we’d not heard of before:

Information about Paragon Coin is very sketchy. It is quite difficult to decipher the meaning of Paragon Coin and what it is intending to do. However, reference to the Cannabis plant is quite evident. All of a sudden, members of the internet (who have some disposable income to spend) are invited to become a part of something great.

Unfortunately, they make an astute assessment of the situation at hand. This author received confirmation from the outfit ICOBOX that they had helped Paragon build an ICO. ICOBOX bills its 50-BTC services as an all-in-one stop for a successful ICO funding round.

The vagueness of Paragon only gets more bizarre when we consider the following video of their CEO:

The author has yet to do an in-depth analysis of what ParagonCoin is offering, but we have to take into account all of the above, and more, surrounding it, when covering it at all. Unfortunately, this type of drama can have a negative effect on the ultimate value of a coin.

During the ICO boom of 2017, we’ve seen a blockchain application for virtually every problem that modern people face. We have to be wary of all of them at first, and accepting of only those who do not turn out to be vaporware and actually deliver a product that has some impact. The bar may seem set high for these types of products, but the bottom line is that there is no sense in utilizing superior technology for inferior applications. If people are going to build blockchain applications, they need to have real substance, and solid positioning in their chosen field of disruption.

This is not to say we’re not seeing this with Paragon, but questions abound. The author writes for a professional trading community, and questions are flying right now: what the heck is going on with these Paragon people. There is reason to be wary, of course. Perhaps no one expected they were entering a world of grizzled investors who’ve seen the worst, but when asking people for cryptocurrency, we can only hope this is what one encounters. A group of people who are suspicious at first and who trust only following verification. This would be the ideal group of people to bring forth a serious revolution in technology, be it applied to the marijuana industry or any other area of life.

Featured image from Shutterstock.

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P. H. Madore @bitillionaire

P. H. Madore has written for CCN since 2014. Please send breaking news tips or requests for investigation to bitillionaire+phm@gmail.com. He lives in Maine, USA. A single father of four young children, he does not discourage financial donations, provided they do not come with strings attached.

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