Russian Billionaire Announces Business Incubator on Waves Platform
Waves CEO and founder Sasha Ivanov and Russia’s business ombudsman and billionaire politician Boris Titov have signed an agreement to establish a new ICO incubator entitled “People of Growth”. The new initiative for entrepreneurs and growing companies will be hosted on the Waves blockchain.
While there have been a large number of crowdfunding success stories in the blockchain space in recent months, with multiple eight-figure raises, the goal of this project — called “People of Growth” — is to help companies in the real economy to leverage the benefits of ICOs. This new financial instrument allows them to raise money in cryptocurrency for their projects, from supporters all over the world, regardless of the sector in which they operate.
The cooperation between Titov and Waves began 6 months ago, when the Upcoin token was launched as an engagement tool for the Party of Growth, for which Titov is chairman. Party of Growth is a minority political party with a strong base of grassroots activists. Upcoin, a token hosted on the Waves network, was integrated into a loyalty program that rewarded supporters for their work for the party.
Upcoin has the distinction of being the world’s first ever blockchain social project, signalling new directions for blockchain applications. Now, this involvement has been extended to a new level with the creation of People of Growth. While traditional loans are typically expensive and difficult to secure in Russia, businesses have proven interested in ICOs as a promising new vehicle for raising seed funding and to accelerate the launch of new business ideas.
“We’re really happy to sign this agreement with Boris,” explains Waves CEO Sasha Ivanov. “It’s a fantastic opportunity to push blockchain adoption to a far wider community than the traditional crypto crowd, which of course has always been our vision for Waves. We always intended to be “Blockchain for the people” and this is another great step forward in that direction.”
Waves Platform is a decentralized platform for launching crowdfunding campaigns and issuing digital assets. It is the largest blockchain project to originate from Russia. The Waves encryption platform is primarily designed to support the issuance, trade and exchange of digital assets/tokens using blockchain technology. The project is characterized by its emphasis on usability and widespread application. It is supposed to use Proof-of-Stake as its consensus algorithm. Waves Platform completed its Initial Coin Offering in June 2016, garnering more than $16 million (30,000 BTC) and becoming one of the Top Five most successful blockchain projects in terms of crowdfunding investment.
When asked about the decision to partner with Titov and the Party of Growth movement, Ivanov had this to say:
“There was already an existing relationship between Boris Titov and the Waves platform, thanks to a political initiative that was launched on Waves last year. Titov had experience with the Waves platform and recognized what we were aiming to achieve with it. His role as Russia’s business ombudsman, his track record in business and his influence made this collaboration a no brainer.”
Ivanov went on to say that this project is a great way to bring Waves, the ‘blockchain for the people’, to a wider audience. And from Titov’s point of view Waves is a blockchain that is not only suited for such a purpose — it is designed for it.
In terms of his highest vision for this collaboration, Titov had this to say: “Businesses constantly needs funds for development, but not any project has the potential for implementation and sufficient experience in spending funds. The Waves team will be able to run ICO processes on their platform with calm and confidence, taking away many of the risks around the final results and return of funds to investors.”
Concludes Ivanov: “What this represents is nothing less than a change in the established paradigms for finance and society. It’s hard to overstate the importance of this from a community point of view, as well as a business one. It enables new models of investment and engagement, with more direct and transparent communication and better-aligned interests between businesses, customers and investors.”