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You're reading from  Blockchain for Decision Makers

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Published inSep 2019
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ISBN-139781838552275
Edition1st Edition
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Romain Tormen
Romain Tormen
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Romain Tormen

Romain Tormen is a senior consultant for PwC, a worldwide consulting firm. He has experienced digital transformation within several industries and different business units. Specialized in emerging technologies, he promotes to his clients the use of blockchain for better transaction security, transparency, disintermediation, and third-parties authentication. As a contributing writer for one of the most-read tech-oriented website hackernoon, Romain gives business insights and provides use-cases for a broad range of industries.
Read more about Romain Tormen

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Illustration of an ICO – the case of Ethereum

One of the first significant ICOs was made by the famous Ethereum (see Chapter 3, Ethereum and Smart Contracts). The founder, Vitalik Buterin, and his team issued between July 22, 2014, and September 2, 2014, about 60 million Ether (the new cryptocoin or token) in exchange for 31,500 Bitcoin, equivalent at the time to $18.4 million.

With this money, they could design and code the future Ethereum platform, which was launched on July 30, 2015. The founders motivated the investors that this platform would allow people to build decentralized applications upon it. Investors were seduced and paid in Bitcoin in exchange for Ether, the currency that would later be used as the fuel for building applications through the platform. Back then, with 1 Bitcoin, you could purchase about 1,900 Ether, which as of June 19, 2019, is valued...

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Blockchain for Decision Makers
Published in: Sep 2019Publisher: ISBN-13: 9781838552275

Author (1)

author image
Romain Tormen

Romain Tormen is a senior consultant for PwC, a worldwide consulting firm. He has experienced digital transformation within several industries and different business units. Specialized in emerging technologies, he promotes to his clients the use of blockchain for better transaction security, transparency, disintermediation, and third-parties authentication. As a contributing writer for one of the most-read tech-oriented website hackernoon, Romain gives business insights and provides use-cases for a broad range of industries.
Read more about Romain Tormen