Polybius Foundation OU held an extremely successful ICO earlier last month, raising well over $30 Million in cryptocurrency and fiat money.
As Ivan Turygin, CEO and Founder of Polybius Foundation OU puts it,
“[the success of Polybius fundraiser] .. confirms the project’s calculations about the demand for a financial institution which can serve as a bridge between the crypto world, with its super high speeds, and modern banking, with all the rigor of its legislation.”
Polybius, a word that symbolizes a well-oiled functioning of the Roman Empire, was a Greek historian who built the foundations of documenting governance and eternalized the domination of one Hellenistic power plex over another.
This is where the name of the project is derived from, and just as the Greek historian aimed to amass and document wealth of knowledge and information to pass on to his peers, successors and the common-folk, Polybius Bank aims to connect wide-ranging blockchain technologies and integrate it into the daily lives of millions of people all across Europe.
Overview of Initial Coin Offerings [ICO] in general:
Whoever has been involved in the ICO scene at least for the past few months, understands how volatile and disruptive this new, super next-generation paradigm shift is. How accessible it has become to invest in revolutionary trend-defining ideas, all while actively being a part of a welcoming community. Regardless of how breakthrough certain technologies are or not, you can rest assured that if you get in an ICO, you will more or less end up on the better side of the bargains.
So we all understand that this whole ICO business is forward looking and at high times. Or do we really?
Any new “thing” whether it is banking, technology, or decentralized currency, is bound to face some sort of resistance from the established market. And where there is resistance, there ought to be a force of will to break through that resistance and claim victory in the face of those obstacles. There is a whole world that sits on the fence trying to decide whether to invest in this new ‘trend’ or not. This makes it necessary to have a push which shows the world that this ICO or that ICO is worth investing in. This push is what Crypto investors naturally call ‘hype’ or ‘pumps’. And the more successful this hype is, the more attention it gains from these people who are on the edge eyeing to decide whether to take a leap of faith or not.
This hype-train bang-wagon phenomenon is traditionally known as marketing, and is a well known strategy of the propaganda machine which is our media. We are bombarded daily with these notions of buying a certain product or owning a certain car or living in that new fancy apartment. And it works.
While all that is understandable, and possibly acceptable, we often forget that in this battle of claiming investor attention and building a brand, a lot of ICOs have side-lined their focus from the crux of business-building: which is actual, streamlined, point-to-point, methodical hard work, and have focused to much on selling the idea. Whether it is bureaucratic string-pulling, infrastructure establishment, code-building, resource-gathering or simple logistical functioning of day-to-day tasks; you need a well balanced approach to meet these goals to ensure that the promised product is delivered, as a result satisfying your investors that have vested interest in your vision.
And from what I have gathered so far, this is exactly what is happening at Polybius right now. With a lofty vision, all-encompassing blockchain technology, excellent team and a strong force of will, Polybius is on its way to becoming the first regulated bank for the digital generation.
It is a well known fact that the Polybius ICO was one of the most successful ICOs in the history of Estonia, raising well over $31 million in a span of a few weeks.
“Starting from May 31st, when the fundraising began, the Polybius Project collected over 12.000 BTC (or over $31 million) with the help of more than 26,000 participants. A total of 3,650,521 tokens have been sold with the remaining soon to be destroyed.”
This success is attributed to an extra-ordinary vision of the Polybius founders: Ivan Turygin & Sergei Potapenko; an unparalleled financial expertise of: Tatjana Potapova, Chief Financial Officer & Andrei Veressov, Attorney at Law; a use-case oriented Fintech platform under development by one of the best blockchain experts in the field: Nikolay Pavlovskiy, Chief Technology Officer, Vitali Pavlov, Chief Product Officer & Renna Reemet, Lead Developer; and an amazing marketing campaign run by: Edgar Bers, Public Relations & Business Development Manager; Valentin Savchenko, Chief of Digital Marketing, Alexandr Gromov, Chief Marketing Officer, & Pavel Tsihhotski, Support and Community Community Manager of the Polybius Foundation OU.
What’s next: ICO report and plans of Polybius: https://medium.com/@PolybiusBank/whats-next-ico-report-and-plans-of-polybius-8ea3f89358f3
Please join the Polybius investors on Telegram @Polybius_ENG & @Polybius_RUS for further discussions on the nature and the scope of this project.
Next up: Polybius and the Future of Blockchain Banking — A Fool and his Money are easily parted—
