Jihan Wu: "ICO's Are Not Practical On The Long-Term”
Upon being interviewed by CoinGeek, Wu has let his opinion that ICOs may not be entirely practical long-term be known, adding that it has just been a good trend, but is soon to die out within the next two or three years.
Wu has also made it clear that the ICO trend dying out does not negate the huge possibility for cryptocurrency tokens to replace stocks and bonds within the business field. However, most of the existing tokens that can replace securities are not tradable, and do not give the holder dividends or rights to vote. So, the whole point of the bear market of the ICOs will soon collapse as people only invest for the hope of getting profit in the future.
Besides Wu, Binance's CEO seems to share the same opinion as he has also stated that the ICOs trend is a short-term industry and is very close to an expiry date.
Despite the recent views from industry experts, the market bears are yet to cease their efforts towards future investments. In fact, Bitmain, who generated over 1.1 billion dollars in profit made only in the first quarter of 2018, are continuing to expand its operational activities. On top of that, they have raised funds for the cryptocurrency startup Circle Internet, who was able to get over 400M dollars in funds. Moreover, Bitmain invested over 50M dollars to have more control over stake in Opera Software AS.
Opera AS have already implemented a cryptocurrency wallet as an extensional update to the browser of Circle Internet and Opera AS Software. Bitmain have continued to invest in Lamba, a blockchain startup and EOS's Block.one.
Truth is, every decision may be true and profitable at this point. As Steve Wozniak said before, crypto are just like the Internet when it first emerged; nobody knew what it really can do in the future.