Joe Zhou, founder of FirstBlood, discusses the execution and speed of their five-million-dollar crowdsale in September 2016.
Opinion
Zhou: Why FirstBlood Needed a Custom Token for Witness Node Utility
“For that layer, both both digital currency can work. Yeah, and then you go a little bit further where there are function, functional specific utility that cannot be achieved by ether, such as this witness Witness program would be running these only decentraliz…”
Disclosure
Zhou Admits FirstBlood's Crowdsale Token Pricing Ratio Was 'Very Arbitrary'
“That ratio is very arbitrary. We basically, you know, look at the previous projects, we did the token launch and then we came in with a number, and then we want to give early supporters the special perks, such as discounts to, you know, to join the crowdfundin…”
Assertion Supported
Zhou: FirstBlood Invented the Crypto 'Power Hour' Crowdfunding Concept
“And really the September 26th, we finished in the first hour, Because we were the inventor of the Power Hour concept for the whole crowdfunding thing.”
Assertion Not checkable as stated
Zhou: Most dApps in 2017 Lack Real-Money Economic Functionality
“A lot of dApps right now, they haven't launched with their real, you know, real money function yet. They probably, you know, there's some products who deployed their app, applications on top of testnet, but they don't know how the real economy is going to work…”
Assertion Not publicly verifiable
Zhou: FirstBlood Caps Witness Node Selection Impact at 1% Per Wallet
“All this selection process, ah, Has like a cap rate on on how likely you're getting selected to be participating in the network or helping the networks to be around which we did we did cap at the one percent as a maximum impact. So it doesn't matter how much y…”
Disclosure
Zhou: FirstBlood Founders Were Allocated About 10% of Total Tokens
“The allocation, I think we had about 10% off the total.”