These are the notes I took on the two day event. Enjoy!
2017-10-02 Day 1:
————————--
Panel Session 1:
————————
Max Kordek, 25, German, Lisk:
Feb 2016 ICO 6 Mio€ founded in Zug/Switzerland: problem not enough good developers. These 6M became 100m with the increase in Crypto markets.
20p+5 based in Berlin GmbH, cowering space + foundation in Zug: we want to do something great for the industry. Currently there is free
Lunch. 65 ICOs in china, none did something substantially => regulation now coming
We give financial transparency reports
We are 100% utility token
We want to enable startups to make ICOs
Yes we did a bounty program 10k USD tokens: attracts many people from poorer regions of the world. I would not do it again.
Whales-for-ICO: no we did not contact any. Attracting whales is like a double edged sword: to have many is every CEOs task, but to have many means you are dependent on them.
We did not do KYC. Most Token holders come from USA, Germany, UK.
We did a great customer support, 18h a day answering questions within 2 min.
Julian Hosp, TenX:
30 people now at TenX
500k orders of TenX card, 15% delivered
Make virtual currency spendable
80m ICO, since then its value tripled due to increase in crypto market.
We hired one guy from Meryl Lynch to increase our funds
We do not invest in token sales, I personally also do not do this
I think we will have an ice age next 5 years, massive winter. Big crypto bubble, going 99% down
We could have raised more than 250m €…
People don’t follow firms, they follow people
We did not do our token sale in Singapore! We did this in many different countries, read our ICO terms and conditions
100k invested in Legal Structure. What other ICO team did this?
0€ invested in marketing/PR
Long-term branding is important for us
I do not do anything to push the token price
Token sale was a vehicle for us to raise money
ICO is hard work:
Whales: I addressed/called/wrote 5.000 emails, 1% answered, 10% of them invested. Talked to 200-300 people directly
We did not give the whales any better conditions than the small investors.
Even if you hold 100% of all TenX tokens, the company is still ours, you have no influence.
We did KYC only for 25.000€+ investors, 3 months ago this was ok
Ether delta is one of the first decentralized exchanges
Decentralized exchanges are coming: always be able to trade and not depend on central entities
if they want to regulate exchanges they have no chance due to decentralized exchanges!
Plasma coming next year
Mr. Schieber, IOTA:
Dominik is not here today
I am one of the two people from IOTA support
IOTA has no block and no chain, so it is no blockchain. We use tangle
4bil. US$ already transferred in the network without any fee!
How can IOTA change ICOs? ICOs based on IOTA will not have a timing problem to get transactions through
IOTA ECOsystem fund: 10.000.000USD. If you have a good idea what to do with IOTA you can apply for the fund!
fund money comes from large whales
a group of community members and the iota foundation is head of this fund.
2 exchanges now for iota since 2 days
Maksim Balaskevich: SANTIMENT
Long time IBM developer, yoga, Romanian, 17y in Germany
ICO best practices:
Very volatile markets
Concentrate on the community and the whales will come to you anyway. They are looking for projects.
Current-ICOs: deliver products in advance!
KYC: no, we just did whitelisting
ICO Success:
strong community
working MVP
marketing power
VC support
2nd Session: LEGAL
——————————
KPMG:
Switzerland Stiftung ICO:
No KYC für Crypto-2-crypto tokensale necessary, this may change rapidly
Nonprofit organization „Stiftung“
3rd Session: Legal, Part 2:
————————————-
180 ICOs so far done
AT: FMA / DE
3 types of tokens:
1. Coins
2. Utility Tokens
3. Securities
Dematerialized securities
Clearinghouse
They all have a lot of problems with the special German law terms talking in English
==> Seems the whole panel has no idea what is what in legal- unchartered waters!
2017-10-03: DAY 2
——————————
Chris Burniske (ARK Investment Management ltd):
———————————————————————
Cycle: 4 Phases: Irruption - Frenzy - Synergy - Consolidation. We are now at Irruption/Frenzy border: going up, up, up in succeessing bubbles
Crypto Cap will be in the trillions one day
Study with coinable: 60-70% of all assets are not moved = most people just HODL
How to value crypto assets: showed way too complicated model….
Wrote crypto assets new book, just on amazon oct 20
https://www.amazon.de/Cryptoassets-Innovative-Investors-Bitcoin-Beyond/dp/1260026671/ref=sr_1_1?ie=UTF8&qid=1507017216&sr=8-1&keywords=cryptoassets
He is very bullish on bitcoin!
He is an extremely longterm crypto investor, 10Y
He invested in only 4 ICOs in 2017
Investment opportunities: Alexander Lange, Early Bird:
——————————————————————————
The rise of crypto tokens: new kids from the „block“ :)
Traditional VPs: Main part of returns comes from very little part of investments: hit big, miss big
Naval Ravikant: VPs will disappear => money goes to ICOs
In ICOs, often the top 100 investors hold around 90% of all tokens
Tokenization just started => SW tokens are eating the world: real estate, commodities, fine arts
Panes discussions 1 + 2:
———————————
Panel discussion 1: not very interesting for me
Panel discussion 2:
Give assets a digital identity
Let´s all fight for that crypto stays decentralized
Best job in the world right now: becoming a programmer! :-)
CU next year!
Disclaimer: I do not guarantee the accuracy of the information given here - I might have misunderstood something. I do not give financial advice, nor do the speakers from the summit do!