Pascal Gallo, CEO of the start-up with the logo of the token which will be used on the blockchain© 2018 Alain Herzog
LakeDiamond, an EPFL spin-off that produces and customizes ultra-pure diamonds for industrial use, is launching an initial coin offering (ICO) today. Through this blockchain-based approach to crowdfunding, the company plans to sell just over two million virtual tokens, each of which is worth one machine-hour. In 2017, startups around the world raised some 4.6 billion dollars by issuing virtual tokens that can be exchanged for cryptocurrencies or services. And much of this activity is taking place in Switzerland, where ICOs brought in 850 million dollars last year according to figures published by IFZ (Institut für Finanzdienstleistungen). But so far, few manufacturers have gotten in on the act. LakeDiamond, an EPFL spin-off that develops customized, highly pure diamonds, is an exception. It is set to launch its own ICO, selling machine-hours in the form of virtual tokens.
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