Thanks @oscar Good point. I have amended it to read. 3. Minimum Viable White Paper (MVWP). Term coined (sic) by Andreas Antonopolous. An empty GitHub is a bad sign if the ICO promoters are pitching open source. However, what investors should be looking for is at least a Minimum Viable Product (MVP) demo. A “trust me we can build this” pitch is a bad sign.
BTW, for anybody who does not know what @oscar does, check out his KoreConx software (yes, it is more than a MVWP, he has a working product). If you want to do a legally compliant securities raise, whether using traditional crowdfunding or ITO, his software will raise the bar on transparency. Sunlight is the best disinfectant.