Veteran crypto investor Tim Draper has announced his participation in the upcoming ICO for Blockchain platform Tezos.
Draper: Tezos ‘Going To Improve The World’
Draper, who first hit the headlines in Bitcoin after he won around 32,000 BTC in the Silk Road auctions in 2014, called Tezos “one of the tokens that is going improve the world.”
In an article published Friday by Reuters, Draper said:
The best thing I can do is lead by example… Over time, I actually feel that some of these tokens are going to improve the world, and I want to make sure those tokens get promoted as well. I think Tezos is one of those tokens.
Tezos is a grassroots project by husband and wife trader team Kathleen and Arthur Breitman developed over the past three years.
It takes what it calls a “fundamentally different approach” to networks such as Bitcoin and Ethereum “by creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network.”
Tezos The New Ethereum Classic?
This added self-governance is a clear point of interest for Draper, whose ability to invest in ‘exotic’ ICOs without alienating investors makes him a rare player.
“I think most investor contracts did not anticipate something like an ICO… But we did anticipate that certain things are going to happen and finance is going to be transformed,” he continued.
With the crowdsale due to commence May 22, Tezos is following in the footsteps of a raft of crypto ICOs completed in Q1 2017. Many of these gathered huge funds – millions of dollars in as little as 15 minutes – but were not without their teething problems.