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Starting capital with its own currency: The interest is safe for young entrepreneurs.
You have an idea of business, but not money: young entrepreneurs. First, friends and relatives are approached. There is rarely a lot together. Then stop at the bank. But this raises critical questions about the risk of loss. Just as critical are the professional investors. Fortunately, cryptographic money has recently offered a new opportunity to startups
The predicted blockchain companies
The crypto money is currently being used by companies already at home in the world of digital currency and financial technologies. Most came from the blockchain start-up area, says PricewaterhouseCoopers (PwC) of Daniel Diemer. The phenomenon has been well received for a year and a half in the general public
Blockchain allows to electronically record data, for example, from electronic financial transactions. Blockchain is therefore the basis for Bitcoin and more than a thousand other crypto motto
own motto for own idea
But how does a start-up get fresh money with she? The premise is simple: the start-up itself creates new cryptocurrency and sells it to investors – mainly for existing digital money such as Bitcoin. In technical jargon, this is called the Initial Coin Offering, or ICO for short.
The resulting new digital parts can be exchanged electronically on crypto platforms. And of course, all those involved are hoping that the company as well as the newly launched crypto money will be a success and a gain in value.
Switzerland – a crypto nation
Funding by an ICO is common in Switzerland. Only in the United States, the volume of ICO is even more important than here. The Minister of Economy, Johann Schneider-Ammann, wants to strengthen the local encryption site. He also said that Switzerland should become a crypto nation.
The expert at the Diemers Blockchain finds "fundamentally very big" as the state government is establishing a direction and virtually paints a vision on the wall. Switzerland is in a privileged position in this respect.
Risk taking and greed, but also a lot of interest
By participating in an ICO, some investors speculated on the quick money, says Professor Thomas Ankenbrand of the University of Applied Sciences Lucerne . The sharp rise in prices over the past year has sparked some greed. But many potential buyers have supported a project because they believed in the idea or in the technology.
All participants are also aware that there are high risks, says Ankenbrand. He feels reminiscent of the Internet bubble in the late 1990s. At that time, they knew the great possibilities of technology, even though they might not know them as well. In Blockchain is similar today. What and where this prevails, the future will show it.
Good start after the crisis before the beginning of the year
For starters, investors seize first, if companies launch new crypto currencies. This year alone, there were initial offers of coins for about $ 14 billion at the end of June. That's twice as much as last year. And this, even though the prices of many cryptocurrencies only collapsed in December
The Cryptocoin index of Avaco AG shows the fall of December and the volatility thereafter.
Avaco
A healthy skepticism is certainly appropriate for crypto money, says Thomas Puschmann, head of the Swiss Fin-Tech Innovation Laboratory at the University of Zurich. Many start-ups have published too little clear information about their business plans with an ICO.
However, he warns against the hasty cancellation of the new method of corporate finance: "Nevertheless, I believe that standards are in place, including legal and regulatory frameworks."
Standards in progress
In Switzerland, the authorities are currently collaborating with the crypto-financial industry on such standards and legal requirements.This is good for startups because they are given clear rules on how to use new financial technology to raise money.
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