Initial coin offerings (ICOs) – through which companies create and issue their own digital tokens in order to raise funding, are all the rage globally. How big a contribution can ICOs really have in terms of African tech startups fundraising, however? Speaking at last week’s Africa Tech Summit Kigali on a panel that discussed the opportunities and possible outcomes for blockchain and digital currencies in Africa, Toro Orero, managing partner for VC firm DraperDarkFlow in Africa, said his company was aware of the potential of blockchain in generally but was currently wary of investing through an ICO. That is the beauty of the blockchain,” Orero said. An African company acquiring a European company, and not the other way around.

Source: The North Africa Journal February 21, 2018 09:22 UTC