Daniel Zakrisson, CEO at Cofound.it: ICO is not a way to raise funds. It’s a way to start your network

Daniel Zakrisson

Startupers should initially treat an ICO as a tool for growing their business rather than just raise funds. It is the opinion of a speaker at Blockchain & Bitcoin Conference Stockholm: Daniel Zakrisson, CEO at Cofound.it Startup Accelerator. In the interview, he shares his perspective on the blockchain industry development in Sweden and gives tips for startupers aiming to launch ICOs.   

BCS: Hello, Daniel. Your company, Cofound.it, supports blockchain startups. How do you select startups to cooperate with?

D.Z.: Startups come to us via our community, partners (accelerators, funds etc), our website and conferences. We have a common process regardless how they come, intended to find out the real potential of a team and project and their maturity level.

BCS: What kinds of startups do request Cofound.it assistance most frequently? What do you think is the reason for that?

D.Z.: We have two main types of startups that approach us:

  1. blockchain startups, that at the core is working on blockchain technology or services that potentially will work better using internal token systems;
  2. Traditional startups and companies that explore if what they do could see benefits by tokenising the whole or part of their product.

I think that the main reason for this is that we have become know for taking a genuine interest in helping startups.

BCS: What would you recommend a startuper who has a promising idea and a desire to launch its ICO to start with?

D.Z.: First really think through if an ICO is the best way to raise funding. 

Second develop their idea, release code, technical white papers and validate their model. An ICO should come when they are ready to launch their network and can use the ICO to bootstrap users and services into their network.

BCS: What are the most common mistakes of startupers during ICO preparations?

D.Z.: Thinking it’s a way to primarily raise funds, it’s not. It’s a way to start your network.

BCS: What is the most uncommon application of blockchain that you have faced in your practice?

D.Z.: We have seen many different applications. The most interesting and uncommon ones are probably the ones pushing the boundary of the decentralised economy, such as aiming to launch a project with a completely anonymous team.

BCS: What do you think about the blockchain industry development in Sweden?

D.Z.: It’s finally taking off! It basically started a year ago with the early adopters. But Sweden will catch up and longer term. I really see large potential as much of the talent needed to scale bleeding edge tech companies exists in Sweden.

BCS: Please tell us more detailed about your presentation at Blockchain & Bitcoin Conference Stockholm.

D.Z.: I’m planning to talk more about some of the real token models and practical use cases are in actual use or can be used today. Some examples include Token Curated Registries and Discount Tokens.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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Cryptocurrency Prices for the 19th of September: Bitcoin and Ethereum Are Recovering, Ripple Skyrockets

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices today

According to the online platform Coin360,  Bitcоin (BTC) added 1.31% over the past 24 hours. The price at the time of writing is $6375 per coin.

Cryptocurrencies are also recovering:

Bitcoin Cash increased by 4.54% over the past day and costs $436 per coin;

Ripple rose by 20.38% and is now at a price of $0.33;

EOS added 5.27%, and its price is $5.13;

Litecoin grew by 4.05%, and its value is $54;

Cardano gained whopping 15.24% and costs $0.073;

Stellar rose by 6.96% and is worth $0.21;

IOTA lost 0.14%, and its value is $0.53;

Dash increased by 0.30%, and its price is $188;

Monero grew by 5.12% and is worth $192.

In the past 24 hours Ethereum added 6.67%. The cost of the coin is $212.

The total market capitalization is $200 billion. Bitcoin accounts for 55.1% of the total volume. It is $110 billion in monetary terms.

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weiDex: A Crypto Exchange of a Brand New Level

weidex ico

Cryptocurrency has changed the financial world once and for all. There is no going back to the old ways now. More and more companies are currently restructuring all of their systems to work with crypto and blockchain. And this is quite understandable – digital currencies have a lot of unique features which make them more attractive for people. However, no kind of currency can exist without an exchange. Thus, the emergence of cryptocurrencies obviously led to the emergence of cryptocurrency exchanges. Here comes the problem: current cryptocurrency exchanges are the main downfall of digital coins.

What is the problem with crypto exchanges?

  1. Despite the decentralized nature of cryptocurrencies, most crypto exchanges remain completely centralized.
  2. It takes an eternity to register on such an exchange. By the time the procedure is completed, you wouldn’t want to convert anything anymore.
  3. Crypto exchanges are painfully confusing. The interface of a crypto exchange often remind the matrix rather than a service where you just convert one currency into another.
  4. Commission fees are ridiculously high.
  5. Hackers never sleep as well as the poor depositors who can never be sure their assets are safe.

What is weiDex? How is it different from all other crypto exchanges?

weiDex did not invent the concept of a cryptocurrency exchange. However, it invented the concept of a cryptocurrency exchange that guarantees safety and transparency, can be used by everyone and is not going to take away half of your assets as a commission fee. Most importantly, weiDex is 100% decentralized.

Cool and unique characteristics of weiDex

  • simple registration process
  • low commission
  • safety
  • user-friendly interface
  • efficient customer service
  • professional staff
  • proneness to hacker attacks
  • limitless deposits and withdrawals

Moreover, the exchange has a couple of innovative features. For instance, Crumble Cleaner collects all the little particles of crypto left after certain transaction and converts them into platform tokens automatically, and Bear/Bull Bomb lets the users convert their crypto into Ethereum or platform token (WDX) and vice versa instantaneously.  

ICO details

The WDX token has already gone for the private sale. The pre-sale will start quite soon – on the 20th of October. The price during the pre-sale is 0.40 USD, meanwhile, during the main token sale it will raise to 0.55 USD. The WDX token is based on the Ethereum blockchain, its total supply is 50 million pieces. The project has a soft cap of 1.5 million USD and a hard cap of 12.5 million USD. Investors will be able to use WDX tokens as an investment tool, as a means of payment after it’s officially listed at the exchange and as a way to take part in the platform community life.

If you want to find out more about this mind blowing crypto exchange or you are interested in becoming its investors, please, visit the official website.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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