At the CryptoFinancing Conference in London I interviewed Bancor founder and product architect Eyal Hertzog, who used Initial Coin Offering (ICO) to raise money. An ICO is a way of creating your own coin on the blockchain. Bancor enables the creation of smart tokens on the Ethereum blockchain for others. Smart tokens provide their own liquidity and price discovery, without needing to be listed in an exchange. A very useful tool for anyone who wants to start their own coin on the Ethereum blockchain.
Why do they need this much money and why are so many people willing to invest in them? What are they going to do with this money?
Previously he was co-founder of Metacafe, a place where artists create, consumers interact and technology enables communication. Prior to co-founding Metacafe, Mr. Hertzog co-founded Contact Networks in 1998, one of the first interpersonal, professional online networks. At Contact Networks, he was responsible for overall product strategy and overall technical architecture, and managed strategic relationships with Nokia, GemPlus, Converse and other large partners. He has also advised US and Israeli high-tech startups on strategy, product roadmaps and technology architecture, and worked with Israeli venture capital firm Millennium Capital Venture as an investment advisor.