Billionaire venture capitalist Tim Draper will be participating in the ICO (Initial Coin Offering) for the cryptocurrency called Tezos.
"Draper, who scored big as an early backer of Skype and Baidu, becomes the first prominent venture capitalist to openly embrace initial coin offerings. This would be a significant stamp of approval for this new financing mode of blockchain start-ups. Some investors have expressed concern about lack of regulatory oversight for ICOs."
I think that Draper, being a known billionaire, will help instill confidence to those who are skeptical about new money (cryptocurrency). The more that knowledge about crypto is spread, the more that the value of it will grow once people realize that it is the future.
I hope that Steemit catches on and becomes mainstream since we (early Steemit entrants) will benefit the most and will have more potential for growth.
Source: http://www.cnbc.com/2017/05/05/billionaire-investor-tim-draper-backs-new-cryptocurrency.html
https://www.tezos.com/
I have just checked their site roughly. Doesn´t look really special, but if there is such a big investor behind, will definetly follow to see further.
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The unusual thing is that they will not have a cap on how many coins are released. My point of the blog is that any cryptocurrency is backed by someone that is known, then it is good since it raises awareness on all crypto.
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