Changpeng Zhao. Source: Instagram, Binance.

Preliminary Exchange Offering (IEO) are still quite a thing and will flourish in the future, stated Changpeng Zhao, CEO of significant crypto exchange Binance

“I am still very confident in the IEO market,” Zhao stated, speaking at the virtual BlockDown 2020 conference today. He went on to discuss that this is the first time in history that we have a technology like blockchain permitting us to raise money internationally for the tasks we want to support.

What we are now seeing are the typical cycles – often there are years or months when it’s simple to raise money, which is then followed by a time when getting funds ends up being extremely tough, even in standard markets, according to the CEO. Blockchain fundraising is changing the standard game that for far too long saw different business getting a lot of money then being bailed out by the federal governments in a crisis, triggering a number of concerns we see today.

Nevertheless, as we speak, stated CZ, Binance is continuing with an IEO project on Binance Launchpad anyways. The exchange simply announced a token sale of Cartesi (CTSI), a Layer 2 Linux facilities for the advancement and release of decentralized applications (dapps), set to start on April21 Their statement includes that eleven tasks hosted token launches on Binance Launchpad in 2011, jointly reaching more than 100,000 users and raising over USD 56 million in funds.

“There are ways to survive, there’s still money floating around to some extent, we’re still doing an IEO, and I’m pretty confident we will be able to raise that money for the project” stated the CEO, including that blockchain fundraising tasks and the quantities raised will continue to increase on the year-to-year basis over the next ten-twenty years.

There are markets that will endure the recession, and cryptocurrencies and blockcahin are certainly amongst them, stated the CEO. This year, regardless of the significant financial and financial concerns the world is dealing with, the exchange business is doing “quite well,” headded Binance simply recently obtained the most significant crypto market information service provider Coinmarketcap

The post There’s Still Money for IEOs; Blockchain Fundraising Will Grow appeared first on World Weekly News.