Bitcoin billionaire Tim Draper is looking to enter into the ICO space with a new smart contract platform.
The Bitcoin early adopter told Reuters he will participate in an “initial coin offering” for Tezos, a new blockchain platform launched by a husband and wife team with Wall Street and hedge fund backgrounds. They believe they’ve elegantly solved Bitcoin’s governance problem.
The ICO is due to launch May 22. Draper, looking to invest in U.S.-based Dynamic Ledger Solutions Inc., the parent of Tezos, did not divulge many more details. He certainly has taken a risk in entering into a market wrought with regulatory questions and seedy players. Mr. Draper, an early investor in Skype, believes the possible reward of such a high-risk investment could be worth it.
According to Reuters, Draper is the first venture capitalist to back initial coin offerings. The news agency calls this a “significant stamp of approval” for this new way of financing projects which has caught the public eye due to eye-popping amounts of funds raised by seemingly inexperienced
Read more ... source: CryptoCoinsNews
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