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Wikipedia Co-Founder confirms that they will never be holding an ICO despite Rumours

The initial coin offering (ICO) sector is one that is forever evolving at a rapid rate. As it is a sector that still in its infancy, there are always going to be an array of changes in the sector at any given moment in time.

Wikipedia Co-Founder confirms that they will never be holding an ICO despite Rumours August 6, 2018Leave a comment

The initial coin offering (ICO) sector is one that is forever evolving at a rapid rate. As it is a sector that still in its infancy, there are always going to be an array of changes in the sector at any given moment in time.

This leads to a lot of notable news on a regular basis, something which is always fascinating to watch as the landscape changes on a daily basis. There are always new rumours about companies that are thinking about getting involved in the space with their own token sales.

Some of these rumours ultimately turn out to be true, while others are completely unsubstantiated and have no substance in reality.

One of the latest rumours that has been doing the rounds in the ICO space is that Wikipedia had been contemplating holding their own ICO. However, one of their co-founders Jimmy Wales has come out and said that this will “absolutely never” happen.

What are the details about these rumours?

Wikipedia is an online encyclopedia that operates as a non-profit and one of their co-founders has denied all rumours that they are planning on holding a token sale. Wales has been an outspoken critic in past time of the cryptocurrency space, so this does not come as much of a surprise. Speaking in Berlin at the recent BlockShow conference, he said: “We are absolutely never going to do that. Zero interest.”

The website is the 5th most popular in the world and they rely on donations from their community in order to be able to survive. Therefore, many people had been saying that an ICO could be the ideal funding method for them.

As he was attending a blockchain related event, Wales was asked why he was there. He went on to discuss the massive potential that blockchain technology has when it comes to transforming numerous industries, but he himself is not a believer in its application for cryptocurrencies.

He went on to say that he of course is paid to speak at these types of events and he claimed that the crypto sector is in the midst of a bubble. In October 2017 he made comments against the ICO space, saying that they are “absolute scams and people should be very wary of things that are going on in that area.”

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