Francisco TechCrunch Disrupt General Assembly of the visitors, token sales just the first step to create a new business, and this new business but also as a non-profit organization In the same way, „self-sufficiency“ must be achieved. In June, Bancor Network raised over 150 million U.S. dollars through ICO.
Herzog explained: „Many people confuse ICO with financing because they both finance new businesses, but in fact the two are very different.“
Herzog said: „If you want to compare the ICO as we know it, it seems that someone went to a country, bought the currency of this country, and then hope that the country’s economy continues to develop, the currency is also available With the appreciation. “
He added: „This is not the same as holding a company’s stock, but rather a token of having a particular economy, and I like to call those ICOs“ online economics, „because it’s an unprecedented business model A pattern that we have never tried before. “
Omise CEO Jun Hasegawa (Jun Hasegawa) agree with Herzog’s view, his company this summer has raised $ 25 million for the development of a Omise Go decentralized network called payment. According to Hasegawa Jun, Omise Go can handle not only money transfers, but also other digital assets, a payment that ICO can make „a natural fit“ because token sales can easily fit into the Omise Go network.
„For us, the ICO itself is more than a mere means of financing, and in order to verify the credibility of the transaction and to ensure cybersecurity, we have to sell the tokens to as many people as possible. The total amount of funds raised is capped and how much is needed – we can actually raise $ 200 million. “
Pantera Capital CEO Dan Mo Hayder (Dan Morehead) said that from an investor’s point of view, the implementation and use of tokens is an important signal that can help in a highly speculative , very busy areas find promising investment opportunity. Pantera Capital manages a $ 100 million ICO fund . He said: „We are looking for some potential projects in which tokens are an integral part of the overall network.“
However, finding valuable business models that utilize tokens is no easy task. Long before product ideas and sales tokens were proposed, Bancor Network and Omise spent considerable time and energy studying bulk ring chains and Ethereum technology.
Hasegawa explains: „We had a long-term study of this model even before we hired a lot of people to focus on the ICO business.“ He also said that Omise worked with the Ethereum Foundation in January 2016 Ethereum Foundation .
Similarly, the Bancor Network was interested in this area long before it started selling tokens. According to Herzog, they can use the ICO to create new service models and ecosystems that could not have been without the ICO.
„Our overall thinking is that you can create an ecosystem that works together with specific tokens to create a network effect for the entire ecosystem, just as Bitcoin’s network effects are like the network effects of Ethereum,“ he said. “
Herzog finally concluded, „Our idea was to create those ecosystems that could not have been built without one of the ecosystems – it could create a new business model that, without the ICO ecosystem, The model is impossible. “
Translation: Hao Yue
ICOs are not just about raising lots of money, say founders who raised lots of money from ICOs
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