The rapid rise of a new technology called Blockchain has allowed us to conceive new ways on how we transact, do business, and interact. As in the early 90s, where the internet revolutionized and democratized communication, the current blockchain technology is revolutionizing the way we transact and democratize value and trust. The unstoppable force of the blockchain and cryptocurrencies are barrelling down on the modern financial system infrastructure through a unique instrument called Initial Coin Offering, aptly known as ICO.
As a result, the venture capital industry has begun to take a good hard look at this new financial instrument, also known as ‘Token sales or token launches’. ‘These ‘token sales’ are a new crowdfunding phenomenon that is being fuelled by a convergence of blockchain technology, new wealth, savvy investors, and crypto-investors. It is so revolutionary that we can now monetize popularity on a global scale, reaching to billions of fans worldwide.
The current financial system is inefficient because of its paper based processes, stringent regulatory policies and its vulnerability to attacks and systemic failures. Crypto assets, on the other hand, have the capacity to transact in financial operations without the presence of an individual. Human history is currently being revolutionized since people can now do business remotely based on a network consensus aided by cryptography.