BnkToTheFuture.. Don’t Bank On the Future Just Yet

I couldn’t help myself. I felt compelled to rewrite this Coindesk story and satirise it slightly. It was really asking for it…

https://www.coindesk.com/bitcoin-startup-backer-bnktothefuture-completes-33-million-ico/

Digital investment firm BnkToTheFuture has officially concluded a $33 million token sale, for its trading platform which allows users to buy equity in crypto exchanges, as well as exchanging ICO tokens.

Co-founder Simon Dixon told Coindesk that, as it is difficult for their team to accurately research all crypto start-ups, they would be crowd-sourcing due diliegence, where all investors would be free to contribute their analysis and research. Much like with Wikipedia, the online encyclopaedia renowned for its factual accuracy.

“We wanted to put together a process by whereby we could build a large community of incentivized token holders,” Dixon said.

Dixon did not clarify whether company founders would be able to edit their own company entry, or whether, as with Wikipedia, they would need to hire someone to edit their entry. Or in fact whether any measures were in place to prevent a conflict of interest.

He did however note reassuringly that

“The appetite we’re seeing is a movement toward complying with securities law rather than avoiding them.”