Binance CEO calls ICO’s necessary
May 09, 2018 Posted / 86 Views
As per the CEO of Biance Changpeng Zhao, he said that the ICO's are more of a better performing investment than the venture capital funds if even the ICO has a higher risk of failure. He also mentioned then as compared to the traditional method the ICO’s are much better and easy and he has full support towards ICO’s. he stated in an interview that
“Through my own experience, and watching hundreds of other projects at a close distance, I would say raising money through ICOs is about 100 times easier than through traditional VCs, if not more. With the ease of raising money increased, logic says there may be 100 times more startups, well-funded startups, where CIOs are allowed.”
According to Zhao, there are various experts of VC investors but they don’t have any clue about the projects and where to invest. There are various startups out there but they are very much unaware about the project and the project technologies and lack in the understanding on the project.
As per Zhao, there is risk involved in the ico such as scams and frauds but there are encountering these problems. As compared to the traditional Vc investment of projects the ICOs are more successful and the ratio varies considerably. In an interview, he stated that
“Most ICOs are new startup projects, and have a high rate of failure, just like in traditional startups. This is nothing new. Most ICO investors already know this. ICO investors are early adopters (and learners).”
Now I have happened so that the VC is investing in the ICO’s as they have more money than other larger organizations who help in increasing public wealth and there are more benefits and faster movement.
As per the reports, an American venture firm Sequoia has sued Zhao for breaching the agreement od negotiations on an investment deal. The deal was worth $80 min with 11 percent stake of Biamce which was last year broken.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.