Home » General World News » People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’

People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’





A man shows Sri Lankan coins as he poses for a photo illustration at a post office in Colombo February 20, 2014. Sri Lanka is hoping to buy back more than 10 tonnes of coins that its pilgrims have donated at temples and churches in India to cut down on the cost of minting new rupees, the central bank said on Wednesday.

LONDON – Startups around the world are raising hundreds of millions of dollars by issuing new digital coins, a trend that has made people both excited and concerned.

Over half a billion dollars has been raised through so-called “Initial Coin Offerings” (ICOs) since the start of the year, according to Richard Kastelein, a partner at the Cryptoassets Design Group, a company that helps launch ICOs.

It’s an incredible amount considering that ICOs were unheard of just five years ago.

The speed at which companies are raising money is turning heads too. Gnosis, a prediction market for digital currency Ethereum, raised $12 million read more >>>

Source:: BusinessInsider.Com

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