Israeli blockchain co Bancor raises $153m – Globes

The Tel Aviv based company raised the money in digital currency in a record ICO (initial coin offering).

Israel-based prediction market blockchain company Bancor has raised $153 million in digital currency in a record ICO (initial coin offering). 10,885 buyers participated including venture capitalist Tim Draper, who joins Bancor’s board.

The Bancor website said, “The Bancor team is humbled by the astounding support from our community. In what is now a historic Token Generation Event, 10,885 participants contributed 396,720 ETH, equivalent to $153,003,311.63, in less than three hours. To provide everyone the opportunity to invest in Bancor at an early stage, our team developed novel protocols to guarantee access to smaller contributors.”

“Reuters” explains, “Bancor enables the creation of so-called ‘smart tokens,’ which can hold one or more tokens or digital currencies in reserve. It also allows any party to instantly purchase or liquidate them directly via smart contract, without any counterparty and without relying on exchanges. Smart contracts are self-executing transactions.”

More at: Israeli blockchain co Bancor raises $153m – Globes

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