RE: EOS Announcement - What Just Happened
Hi Simon, great post really like how you've broken down the announcements to look into the fine detail, as often announcements like this are not all what they seem and a lot is left to interpretation and understanding of the fine details which isn't included in a presentation.
Having said that, project funding still seems a little vague. Yes block one has said it going to fund projects but the structure seems to be that they are going to deploy capital threw leading global VC's leveraging resources to be driven back into the tail end of innovation!
The answer is in point 3 above... Block.One are funding projects so they don't have to sell tokens through the ICO process!
I think they are not going to be directly funding projects and that the funding will come from global VCs and there is a good reason why they are taking this route.
That however does leave the question of new project seeding kind of unanswered IMHO
I'll try write more on this over time
Thanks mate, I agree they seem likely to deploy funding through a VC and likely this is to retain an "arms length" from the direct funding of projects on EOS to ensure insulation from legal risk (around the ICO).
I also think this is gives them a few distinct advantages over deploying directly:
Block.One have a massive task ahead of them and they'll need help. VC's are toast if they don't get back in this game. It's a win win if they can get the process (and roles / responsibilities) right.
4 VCs already working with innovators. Brings that innovation onto EOS
Downsides for developers and new projects is barriers to entry and VC equity stake.
My thought is that adopting the language of ICO is a mistake for new projects which are trying to kickstart their inventions.
The precedent being set by everipedia is good under certain circumstances but dosen't necassarily apply to all projects looking to build on EOS.
There are also other benefits and disadvantages outside of funding to adopting an airdrop distribution model but for EOS token holders the everipedia announcement is good and if others follow then great more the merrier.
yep, ther'll still be plenty of projects choosing the ICO route however I can see the high quality ones choosing the VC route to ensure a fast track, minimal distractions and Block.One global contacts to get the maximum traction in order to beat out the competish.