Cryptocurrencies, ICOs, & Tokens- Issue #2
Cryptocurrencies, ICOs (Initial Coin Offerings), and Token Sales are the hot new thing in tech today. Many companies are turning to ICOs to raise money instead of bootstrapping or turning to Venture Capital. Why? Well according to Fred Ehrsam, co-founder of Coinbase, a few key component of tokens are:
- They are the currency that is used in the app itself.
- Contributors to the app are directly paid for their contributions in tokens. This can be extremely granular.
- The tokens are easily converted to any local currency since they are on the blockchain.
A new business model is being created from this. The decentralized business model. Companies get to create their own economic ecosystems. It is unique because it is enabled by the internet and cryptocurrencies.
You can read more about this new business model here.
📖 What I’m Reading…
Back in the day, people who knew about cryptocurrencies were those operating within tech circles. It was very hush hush, operating out of the view of the average person. Fast forward to the present day, and the average Joe will have heard of the phenomenon.
Page through the articles on blockchain today and you will see healthy discussions over its applications and endless debates over the future price action of someone’s favorite cryptocurrency.
Over the last few years over $1bn has been invested in digital currency startups from venture capital firms and institutional investors. Then something odd started happening over the last 4 months.
🎵 What I’m Listening To…
• Blinds by Amine
• Pretty Face by Public
• XO TOUR Llif3 by Lil Uzi Vert
🅿️ New Products I Love…
• Petcube Bites: If my dad hasn’t bought it yet, he will
• Sixty: My friend’s startup. They find, vet, and manage experts, as well as connect them with users and facilitate payment with real-time software.
• Remote Starter Kit: Working remote is starting to become normal in today’s workplace. This is a curation of tools that can help remote workers because more productive.
If you’ve made it this far, I’d love to hear your feedback on what you’d like to see, or not like to see, in the next digest. Just hit the reply button!