CoinTelegraph caught up with Mike Gropp from UK-based bitcoin trading platform BitBays to discuss its new cryptocurrency-powered “IPO” option for users, the benefits of crypto crowdfunding and where he sees the industry headed in the near future.
The internet and digital money have enabled the rise of a completely new industry – online crowdfunding. But while this space has still plenty of room to grow, competition is becoming fierce as newcomers are vying for market share against current leaders (Kickstarter, Indiegogo) and offering their own unique approach, while blurring the lines between online crowdfunding and the world of finance, i.e. IPO.
“We see a huge shift in the global economy in the way people earn, spend, save, and invest,” Gropp told CoinTelegraph. “Cryptocurrencies are removing the currency exchange and transfer obstacles faced by first generation crowdfunding platforms.”
Whereas before one needed to know a broker or a secret handshake to invest in a hot new company, Bitcoin is destroying barriers and empowering private individuals to take part in the increasingly-inclusive world of fintech and investment.
“Private deals are coming to the masses. Crowdfunding is the vehicle. Cryptocurrencies open the doors for more passengers.”
– Mike Gropp
Read more ... source: Cointelegraph