The billionaire and well-known venture investor Tim Draper announced his intention to take part in the ICO of a new crypto currency project - a solution from which even he, one of the early supporters of bitcoin and the underlying technology of blocking, had abstained until recently.
As reported by Reuters, Tim Draper will become one of the investors starting May 22, the initial placement of coins (ICO) platform Tezos.
"The best I can do is give a personal example. I have a feeling that some of these tokens will change the world, and so I want them to get support. Tezos is one of these tokens, "said Tim Draper.
As ForkLog wrote earlier, Tezos is positioned as an alternative to Ethereum and is a network protocol that specializes in secure and time-tested smart contract systems. According to the founders of the project of the couple Arthur and Kathleen Breitman, the platform focuses on such fundamental aspects as transparency, security and governance through consensus.
Based on these principles, Tezos offers independently verified code and includes integrated mechanisms that allow users to make transparent decisions and implement upgrades to the system.
Most traditional firms specializing in venture financing are limited in their actions by agreements with investors and therefore can not send funds to high-risk assets such as digital currencies.
However, in the case of Tim Draper, the situation is different: according to the entrepreneur, the agreements he signed such an investment just allow.
"I think most investors did not expect the appearance of such a thing as ICO. But we knew that something like this would happen, and the world of finance would be transformed, "says Tim Draper.
He also said he intends to invest in Dynamic Ledger Solutions Inc, the company behind Tezos, but refrained from further comment.