Billionaire venture capitalist Tim Draper has announced its plans to buy a new digital currency offered by a technology start-up, as CCN (cryptocoinne
Billionaire venture capitalist Tim Draper has announced its plans to buy a new digital currency offered by a technology start-up, as CCN (cryptocoinnews.com) and Reuters (reuters.com) reported a few days ago.
Draper, an early supporter of bitcoin and its underlying blockchain technology, told the media he will participate in a so-called “initial coin offering” (ICO) of Tezos, a new blockchain platform.
He has reportedly been the first prominent venture capitalist to openly support initial coin offerings. While he has scored big an early backer of Skype and Baidu, he has not been part of an ICO before.
“The best thing I can do is lead by example.”, commented Draper, on his plan to participate in Tezos’ token offering.
“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.”, he added.
Tezos is designed to allow for automated upgrades in a decentralized manner. This can solve a problem with governance experienced in systems like Bitcoin. As the owners explained, their blockchain is the first to code these specifications into their design.
Kathleen and Arthur Breitman have experience on Wall Street. They have worked on the platform for around three years.
Arthur Breitman is a former high frequency trader for Goldman Sachs and options market maker at Morgan Stanley. According to publications, he has spoken about the platform in public before.
Kathleen Breitman is a former management associate at Bridgewater Associates. She has said that there is no cap for their ICO.
“What we’re going to do is allow as many people who want to buy into the crowdsale over a two-week period.”, as she emphasized.
“Tezos is a new decentralized blockchain that governs itself by establishing a true digital common wealth. It facilitates formal verification, a technique which mathematically proves the correctness of the code governing transactions and boosts the security of the most sensitive or financially weighted smart contracts.”, as the project`s website tezos.com pointed out.
It stated that the Tezos TGE starts in 10 days and 21 hours as of May 11.