With the recent proliferation of Initial Coin Offerings (ICOs), financing mechanisms for decentralised protocols and applications we are seeing teams raise millions pre-product and with little more than a white paper. What are the dangers with this?
On that theme, Seedcamp partner Carlos Espinal and analyst Kyran Schmidt are joined by Dmitry Koval, Founder and CEO at Blockwise, a company specialising in blockchain consultancy and software development. Dmitry is a serial entrepreneur and investor with a track record of creating successful businesses in IT, Insurance, Cloud and Blockchain. He is a Non Executive Director at Sweatcoin, a company building a digital currency backed by physical movement.
Addressing the recent rise in Initial Coin Offerings, financing mechanisms for decentralised protocols and applications, Dmitry Koval argues that the model is only suited to certain types of projects: those where a token has an ‘intrinsic’ value tied to the growth of the network, and where ‘there is an intrinsic economy in the system’.
Dmitry also dissects which business use cases are best suited to blockchain implementations, claiming ‘there has to be some multiparty ecosystem, with several parties involved in the process… and even better, or necessary, if they have intrinsic conflicts of interest.’
Learn more about the machinery of blockchain and distributed applications, the evolution in ICOs, and the how the regulatory impact will affect new blockchain protocols.
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