Our advisor, Norbert from Bitcoinist – represented INLOCK at World Blockchain Forum 2018 in London, where he met our good friends from Walletinvestor. They all said It was worth attending, they saw a lot of good emerging projects to look out for in the coming years!
MAO LEVIN has proven again that he can organize an excellent blockchain conference!
The venue was in a stunning location right by the Thames in London. There was a growing number of crypto projects, hedge funds and VCs represented who plan to invest in blockchain technologies compared to last year. The market seems to be restructuring itself, most ICO based projects seemed legit as these had companies with multi-year industry backgrounds behind them. Luckily, there were only a few shady ICO’s, and as the market is maturing, we are expecting to see less and less of them. Investors are becoming more educated in the space and starting to realize not all ICO projects are equal, and not all of them results in an instant 100X just because they added blockchain and #decent to an old concept.
Writing the recap of the event reminded me of a topic that I’ve been wanting to talk about for a long time now – ICO funding in a bear market. We will elaborate on the idea in a future article, so I’ll only outline the basic concept.
It’s obvious that ICO projects – just like any other regular company – need money to fund their day-to-day operations. Depending on the project, more or less of these expenses need to be paid in fiat. If they collected funds late last year (and didn’t cash out), they had an idea of how much “money” they amassed, how long it will last operating at their normal burn rate. Bumm, prices come crashing down, the market experiences a 70% correction, and the bearish trend continues. What can they do? The money is there, because as we know; 1 bitcoin will always be 1 bitcoin, but the workload didn’t shrink with the dollar value of their funds, and the bills still need to be paid. They can either sell and take the loss – cashing out at a very unfavorable time – or take out crypto collateral backed fiat loan to solve their problem. As I said, we’ll detail this in a later article, I just wanted all readers to know about this important use case of INLOCK for ICO’s where the funds are kept in crypto while they still need to access the purchasing power of their treasury.
Of course no recap would be complete without photos, so here are some we took during our travels in England: