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Cheers Again, Tim: ‘World Improving’ Tezos ICO Gets Draper Backing

· May 6, 2017 · 7:00 pm

Veteran crypto investor Tim Draper has announced his participation in the upcoming ICO for Blockchain platform Tezos.

Draper: Tezos ‘Going To Improve The World’

Draper, who first hit the headlines in Bitcoin after he won around 32,000 BTC in the Silk Road auctions in 2014, called Tezos “one of the tokens that is going improve the world.”

In an article published Friday by Reuters, Draper said:

Tim Draper

The best thing I can do is lead by example… Over time, I actually feel that some of these tokens are going to improve the world, and I want to make sure those tokens get promoted as well. I think Tezos is one of those tokens.

Tezos is a grassroots project by husband and wife trader team Kathleen and Arthur Breitman developed over the past three years.

It takes what it calls a “fundamentally different approach” to networks such as Bitcoin and Ethereum “by creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network.”

Tezos The New Ethereum Classic?

This added self-governance is a clear point of interest for Draper, whose ability to invest in ‘exotic’ ICOs without alienating investors makes him a rare player.

“I think most investor contracts did not anticipate something like an ICO… But we did anticipate that certain things are going to happen and finance is going to be transformed,” he continued.

Tezos ICO

With the crowdsale due to commence May 22, Tezos is following in the footsteps of a raft of crypto ICOs completed in Q1 2017. Many of these gathered huge funds – millions of dollars in as little as 15 minutes – but were not without their teething problems.

Most recently, attempts by Blockchain dating platform Matchpool and TaaS Fund became mired in controversy as accusations surfaced questioning developer integrity.

Both businesses put out official literature denying any wrongdoing, and investors appeared unshaken, both ICOs being completed and raising considerable sums.

Tezos Crowdsale

With Draper as a backer, the community will no doubt be eager to get on board this latest offering, in much the same way as Ethereum Classic gained in value considerably following Barry Silbert’s launch of a dedicated private fund.

Tezos’ token sale will run for two weeks and will not include a token cap.

“What we’re going to do is allow as many people who want to buy into the crowdsale over a two-week period,” Kathleen Breitman confirmed.

What do you think about Tim Draper backing the Tezos ICO? Let us know in the comments below!

Images courtesy of Reuters, Tezos, AdobeStock

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Innovation Through Bitcoin: An Entrepreneur’s Heaven

Source: bitcoin

Bitcoinist_Network Nodes

Bitcoin is gaining global recognition for being a very disruptive force in the financial industry. Though the community is currently divided by the block size issue, the technology carries on and with it comes the ongoing opportunity to spawn innovation, create new applications for blockchain technology, and start new businesses. Entrepreneurs have been taking advantage of Bitcoin to develop new platforms and businesses that expand the utility of the blockchain and empower people with additional financial power.

Also read: Growing Demand for Global And Real-Time Payments To Boost Bitcoin Adoption

Innovation: Building With Bitcoin

Innovation comes from the desire to solve a problem in a new way. Innovation can be combining things or ideas in a way that hasn’t been done before, or it can simply be doing something better, cheaper and faster.

Blockchain technology has the ability to simplify payments, make them faster, and cheaper, therefore it is a primary protocol to base next generation financial platforms on. While new uses of the blockchain have been discovered, it’s still a very young market which has large potential for new players to innovate and apply the tech to industries which haven’t used the technology previously.

Because Bitcoin is technology-based, most new applications and businesses will be rather technical, requiring either extensive coding experience or startup money to hire a professional developer or team. These technological hurdles do stifle some innovation, but they should never stop a truly great idea. Distribution, encryption, financial control, and speed are all fundamental properties of Bitcoin which can be utilized towards accomplishing multiple tasks over a wide variety of applications.

The boost.vc incubator, founded by Tim Draper, has become a well-known Bitcoin incubator in Silicon Valley, accepting multiple startups into its program every year. In fact, there are incubators for tech-based projects all across the world that aim to help new entrepreneurs develop their business models, build their products and services, and begin the path to success. The disruptive nature of Bitcoin makes it a great protocol to integrate into the development of new ideas and platforms. Bitcoin has the potential to reduce costs, and increase speeds and security. Distributed assets and cloud computing will likely change drastically within the next decade as computing power continues to increase exponentially.

Entrepreneurship is all about solving problems with methods that improve or disrupt the current norm. If you can think of something that solves a problem in a way that improves on the norm and is an opportunity rather than an idea, you can innovate and start working on a business model. Entrepreneurship is all about identifying opportunities and inefficiencies that can be solved and applying a unique solution to them. While there will be resistance and friction in customer adoption, true innovation and disruption shines though. Bitcoin is a great platform to build and innovate with as it is still very young and the potential for new applications is immense.

Are you trying to innovate with Bitcoin? Let us know in the comments below! 

Images courtesy of Pixabay.

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Innovation Through Bitcoin: An Entrepreneur’s Heaven