What is Newly Formed Institute for Blockchain Innovation Backs ICO Alternative?

A new open-source Think Tank oriented around Blockchain technology has been formed and has announced its first initiative, JOBS (Jumpstart Our Business Startup) Crypto Offering, which aims to solve the regulatory issues surrounding initial Coin Offerings (ICO).

Who are members of IBI?

The newly announced Institute for Blockchain Innovation (IBI) has nearly 60 members, including global leaders in banking and technology. Companies include Finova, Indiegogo, 500 Startups, Ausum Ventures, Salesforce, Raiffeisen Bank International and BPC Banking Technologies.

According to the press release:

“The new think tank brings together the world’s innovators in both the traditional and the blockchain/crypto financial systems, along with leaders from corporate, academic, regulatory, entrepreneurial, venture capital, and governmental backgrounds.”

IBI Founder and Chairman Gregory Keough said, “We believe that the Blockchain will be a powerful engine for bringing more people into prosperity and encouraging innovation at unprecedented level.”

Is it an alternative to the ICO?

As part of its mission, the IBI will identify and support a key Blockchain initiative. Their first initiative out of the gate is the JOBS Crypto Offering (JCO), which is intended as a new approach to trading what they refer to as “digital equity securities” (equity tokens) on the Blockchain.

"Blockchain technology isn't just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself"