The co-founder of Wikipedia Jimmy Wales has made a firm position on ICOs by saying that the not-for-profit company will “never” hold an ICO or issue its own cryptocurrency.
Zero Interest in ICO
After giving a speech at a recent blockchain event in Berlin, Wales said, “We are absolutely never going to do that. Zero interest.” This showed the founder’s clear mindset about the company being a non-profitable educational hub. Wales has always been a little sceptical about cryptocurrencies and blockchain in the past. He had previously commented that ICOs are many times “absolute scams” and they have “nothing of value” to offer. In his speech in Berlin, Wales told the large crowd of people that he was speaking at the event because “people pay me [him] to give speeches.” Confirming his belief that bitcoin is a bubble of interest for the topic, Wales added, “It’s a super-interesting technology, but it’s clearly a bubble with a lot of mania and hype around it.”
Wikipedia will continue running on donations which include the ones made in bitcoin. Its pages will still be maintained by public volunteers and an ICO is ruled out from its agendas. The company started accepting the top cryptocurrency as per the market value in 2014. Wales told that initially, he was “cautious” regarding the technology. In its first week of crypto donations, Wikipedia had made over £140,000, equalling to 237 BTC at the time. However, today the value for same cryptos will be around $1.8 million according to current rates.
Born in Alabama, the United States, Jimmy Wales (51) is a tech entrepreneur and socialist. However, he is most popular as the co-founder of the world’s biggest online non-profit encyclopedia, Wikipedia. He, along with his partner Larry Sanger and also some other founders launched Wikipedia in 2001. He became the project’s lead promoter and spokesperson. Today, Wikipedia is the largest and most popular general reference work on the Internet. And it is also one of the most popular sites according to Alexa rankings.