Blockchain Startup Got $4B Funding Without Product

| June 1, 2018

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A Cayman Island-based blockchain startup is on track to dwarf the world's largest initial public offerings (IPO) in 2018 with a fresh $4 billion in funding raised over the year through the sale of its digital coin, EOS. Block.one's initial coin offering (ICO) more than doubles the next largest digital token sale, and marks a huge vote of confidence from backers who have yet to see a flagship product go live. (See also: Japanese Bank to Offer Blockchain Payments in 2020.)Investors, confident in Block.one's founders, who have successfully launched blockchain projects in the past, are pretty much in the dark regarding how Block.one seeks to use the new capital. Founders have marketed for a new software system, eos.ios, that it says will support more efficient operations for "decentralized applications" and help drive greater adoption of digital currency technology. The first live version is set to be released in June, yet the company does not plan to develop the software after releasing it. It expects others to do so and has said that it will not operate a public network based the EOS software but rather will pledge $1 billion to startups building on EOS.

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TalentOne.in is a specialist search firm based at Bangalore since 2006. It has been our privilege of being reckoned among most preferred search firm with leading MNCs, disruptive technology startups of different hues and respected Indian Corporate houses. ‘TalentOne’ specializes in executive search, contingency search and running well-oiled and highly effective, quick launch Recruitment Process Outsourcing (RPO) engagements.

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