Brendan Blumer, CEO and founder of the parent company of the EOS cryptocurrency project, spoke to Bloomberg Markets and Finance during an interview about the world’s biggest ICO sale, netting a staggering $4 Billion. Mentions are also made about the Bitmain’s upcoming ICO and the aiding investors of EOS in the aforementioned interview.

The Four Billion Dollar ICO Sale — EOS

Over the past two years, the world witnessed the biggest ICO sale to ever occur, with EOS taking in over four billion dollars worth of public funding. CEO Brendan Blumer revealed plans on how he will be making use of the earnings to benefit the EOS network.

In the interview, he states — “look at how token networks were distributed in the past, it was mostly through burning electricity in order to create these tokens. And so the thesis behind our token sale was to take that capital that was normally used to create tokens and then diverted back to the developers that are spawning the next generation of innovation.”

He aims towards the funds being diverted back to the developers hence implementing a “capital innovation show.”

Blumer further mentioned that “ has committed to investing over $1B into funds focused on the growth of the EOS ecosystem.”

Giving a little insight on the funding, he stated — “The first billion dollars of capital in the US we see the primary bulk of it is really designed to use this investment into developers building on the application itself. Yeah, the first commitment of a billion is what we’ve made public.”

Bitmain Founder Jihan Wu — Investors in

Brendan has officially confirmed Peter Thiel and Jihan Wu, the co-founder of Bitmain, are leading investors in the project. Brendan has not revealed details on their upcoming project, however, but has hinted that it is closely related to centralized technology platforms. It was announced that further information on this regard will be made public later this year, or soon next year.

Speaking on Bitmain, “Their business is a little different to ours, they manufacturer hardware, they are located in Hong Kong. And I think that shows that kind of gravity that Hong Kong is pulling in terms of the industry, a lot of market leader setting up there are very free capital markets, a lot of same ideologies as blockchain itself. So we’re big supporters of the project, but [we have] very different business models.” added Brendan Blumer.

EOS, currently trades for about $5.77 a token, while still ranking 5th according to market capitalization.

Image Courtesy of Devsgaskarth via Wikimedia Commons



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