Blockchain Is Not Just About Tokens
Well then, our project AXXELERATE FUND arrived on Medium which necessarily has to result in some posts over here. Otherwise, it wouldn’t make any sense at all to be here, right? So let’s start our freshly squeezed Medium presence and the discussions with a short introduction to our AXXELERATE FUND and what we are aiming it. Maybe a good starter, I guess.
AXXELERATE FUND (AXF) has been set up to become a blockchain-based venture capital organization to address an anticipated future with tokenized assets and thousands of token. Consequently, we expect a shift from the currently deployed equity model to blockchain-enabled token models for the VC industry and the startup scene over the next couple of years, or, as Fred Ehrsam called it — the dawn of a decentralized business model. Consequently, we anticipate to see new decentralized “Token Market Places” (secondary markets) where those tokens will be traded. This future scenario needs completely different, more decentralized and community-based approaches for the VC industry. AXXELERATE FUND shall be positioned to become an active player in this industry transition.
The idea doesn’t sound too innovative at first glance, I know. Blockchain Capital (and others) already set the scene and introduced blockchain concepts to the VC industry with their successful Initial Coin Offering (ICO). Like the guys from Blockchain Capital, we plan to do an Initial Token Offering (ITO) and issue our own VC tokens, based on Smart Contracts, ERC-20 standard, and Ethereum. Is AXF simply a “more-of-the-same-thing” then? We hope not, at least we aim to further evolve the idea Blockchain Capital so successfully sparked.
With AXF we would like to develop a “Next Generation” VC organization supporting startups as catalyst for tokenization. Moreover, we enable individuals to become VC’s by purchasing our token and join our AXF Community centered around our WordPress-based AXF Forum. That’s the key to us: we would like to unlock the incredible power of the WordPress community by integrating it into Ethereum, by “pluginizing” Smart Contracts.
We regard cryptographic technologies and blockchain concepts along with decentralized ledger technologies (DLT) as tools to empower communities with a peer-to-peer spirit and a trusted consensus mechanism. Since its inception in 2003, the WordPress community (open source) has developed into a powerful decentralized environment with thousands of (plugin) developers and more than 500 million Unique Users per month. As of July 4, 2017, WordPress 4.8 has been downloaded more than 8.7 million times, i.e. millions of “nodes” in Blockchain terminology, waiting to be addressed.
To us, WordPress is a kind of role model for public blockchains on a user level: open, transparent, trusted, easy to use and powered “by the many”! Moreover, it seems clear to us, that in a tokenized future with a decentralized VC approach, it needs “the many” to leverage business models and make token working. Blockchains are about token and communities. This is what we go for with our AXXELERATE FUND.