News

Startups get record via cryptovaluta

Startups get record via cryptovaluta

Photo: Getty Images

Startups have this year spent more than $ 1.3 billion (1.1 billion euros) collected by new cryptovaluta as bitcoin and ethereum.

That reports the Financial Times Tuesday on the basis of data from financial research firm Autonomous.

Startups that are themselves technologies around cryptovaluta develop increasingly opt for a so-called Initial Coin Offering (ICO), in which digital ‘tokens’ are sold in exchange for money.

Those tokens can be used to the software or to use services that the startup is developing, and can be freely traded. If the startup is successful, the tokens are worth more, and investors can make money.

Autonomous warns, however, that ICO’s a lot of fraud. In addition, there is hardly any supervision on cryptovaluta and ICO, allowing consumers easy victims of scammers.

Monday said the startup Coindash that hackers 7 million dollars have been stolen during the ICO of the company. The cyber criminals have adapted the website of the startup, so investors their cryptovaluta to the wrong address, sent.

Tezos

Lex Sokolin, a researcher of Autonomous, compares the emergence of ICO’s with the dotcom bubble around the turn of the century. A lot of internet companies went bankrupt, but there were also a few new giants, such as Amazon and Netflix.

Last week was the biggest ICO until now. The company Tezos develops a new kind of blockchain, the underlying technology of cryptovaluta, and took about 200 million euro in bitcoin and ethereum. Did the company expects that the proceeds up to a few tens of millions would amount to.

There is still a lot less money retrieved from ICO’s than ‘traditional’ crowdfundingsites as Kickstarter and Indiegogo. Through such platforms were in 2015 already billions of dollars collected.

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular