31 Jul '18, 11am

Energy Blockchain Firms Consider New Funding Options as ICOs Falter

Energy Blockchain Firms Consider New Funding Options as ICOs Falter

Energy-related blockchain firms are looking for new sources of funding as their preferred financing route, the initial coin offering, loses its luster. Greeneum, Hive Power and Verv Energy are among the startups affected by the slowdown in ICOs, which are unregulated fundraising drives where investors can buy an initial tranche of cryptocoins or tokens on a blockchain-based platform. Greeneum’s Chief Marketing Officer, Guillermo Wajner, told GTM: “The drop in bitcoin and other cryptocurrencies has slowed the market.” The company, which aims to let stakeholders produce, trade and consume clean energy worldwide, is now “looking for new, exciting projects with real solutions and assets,” Wajner said. At Hive Power, a June ICO failed to reach its target, and the company said participants would get a refund. CEO Gianluca Corbellini said Hive’s decentralized energy community con...

Full article: https://www.greentechmedia.com/articles/read/blockchain-f...

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