Why Investors Should Pay Attention to Aragon (ANT)
The freedom to organize is considered a fundamental right in most parts of the world. The problem is that the festering bureaucracy slows this down and puts what many think are unnecessary rules on organizations.
But with current technological innovations, it is becoming increasingly possible to organize without borders or intermediaries. The decentralization enabled by blockchain makes all of this possible (and more). It may sound “idealistic”, but many of blockchain’s innovations are tied to these more basic desires for human collaboration and empowering more freedom.
A Solution to Bureaucracy
This is where Aragon comes in with a strong, viable solution. Aragon is a decentralized management platform built on Ethereum. The idea is that anyone can create and manage organizations using it. Aragon offers a new mechanism for traditional companies to employ blockchain, and these organizations end up being titled Decentralized Autonomous Organizations (DAO’s).
There are a lot of significant features of organizations created by Aragon that stand out. The basic features of an organization are there, like cap table management, token (ownership) transfers, voting, accounting, assignment of roles, and payroll.
This removes intermediaries within the traditional organization setting, which means a lot less “friction” in certain areas. Aragon has been designed to be simple to use for non-coders. The act of setting out bylaws to define user permissions, a governance system for decision-making, and a capital system for the control of the company is not technically demanding.
Aragon is headed by Luis Cuende, who has started other projects using blockchain and has worked with several governments and high-profile corporations. He was also listed as one of Forbes’ 30 under 30. With ambitious startups like this, the pedigree of the team and founders makes a huge difference. Knowing that they have delivered results before should make a difference in gauging your investment.
The ANT Token
Aragon’s proprietary token, ANT, helps form the decentralized court mechanism where token holders can vote on the overall system’s rules and regulations. ANT token ICO’ed in May of 2017 and raised $24 million. It is important because it gives the holders ownership of the overall platform, and they can vote to settle disputes in a “court style”.
The token is available on more than 10 exchanges, with Bittrex being the most well-known one. Ranked 208th in terms of market capitalization, ANT can be considered mid-cap.
So how does the world’s first digital jurisdiction look as an investment? It seems like it is about ready to make some moves and is continually testing the 0.00013 BTC resistance level. Based on it slowly working its way above the moving average, it could be smart to pick it up every time it bounces off that resistance level.
This leaves you open to a quick flip of about 50% when it does break through this resistance level. What makes this appealing is like many of our other trades, the long-term outlook is strong for Aragon, so you could hold part of your position after taking a profit. However, if it were to begin to drop below the 0.00010 BTC level, you would need to be ready to hold long-term, otherwise it might be worth taking the loss there.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.