Many ICOs are fraud, according to Ethereum co-founder and Ripple CEO

CNBC| Fri Nov 17 01:00:12 EST 2017
Issuing digital tokens is a popular way for many start-ups to raise money, but two prominent names in the cryptocurrency space warned about the rise in fraudulent projects that offer little value to investors. Initial coin offerings, or ICOs, are a fundraising vehicle where investors send some form of digital currency — usually bitcoin or rival token ether — to the start-up. In exchange, they get an entirely new token that can be used to redeem a service offered by the firm. It does not give investors an equity stake in the company and they have basically no rights. Many of the sales are used to back "high-quality projects, but there have been a lot of copycat projects where people copy all ..

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American Express and Santander have partnered with financial technology firm Ripple to speed up cross-border payments between the U.S. and the U.K. by using blockchain technology. ....
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LONDON (Reuters) - American Express (AXP.N) has introduced instant blockchain-based payments using Ripple, a fintech start-up, for U.S. corporate customers sending funds to UK-base....
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