Leaders from Finova, Indiegogo, 500 Startups, Ausum Ventures, and others announced today the formation of the Institute for Blockchain Innovation (IBI). The open source think tank will work to establish standards and best practices to enable and encourage advancements on the blockchain.
“IBI is an open source community who believe that the impact of the blockchain will be even greater than the internet,” IBI founder and chairman Gregory Keough. “We believe that the blockchain will be a powerful engine for bringing more people into prosperity and encouraging innovation at an unprecedented level.”
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.
“I fully expect the blockchain and crypto to completely eclipse our current financial services and Wall Street investment systems,” says IBI founding member and Ausum Ventures CEO Jeremy Gardner. “IBI will play a pivotal role in achieving that vision on a global scale and creating a more inclusive system for everyone.”
Each year, the Institute will identify key initiatives to pursue. The Institute’s first initiative is the JOBS Crypto Offering (JCO): a new approach to trading digital equity securities (commonly referred to as “equity tokens”) on the blockchain that creates a solution for the regulatory gap in ICOs while providing liquidity in a crowdfunding model.
The JCO is a next-gen hybrid that gives startups a pathway from initial capital to IPO on the blockchain so that companies all over the world can more easily tap into the financial resources they need to grow.