Venture capital’s ICO gambits left Bitcoin ecosystem underfunded — Adam Back

Initial coin offerings (ICOs) might have hindered the development of the Bitcoin environment, with market research showing a massive slant toward non-Bitcoin financial investments by venture capitalists (VCs) over the previous 5 years.Blockstream CEO Adam Back highlighted the juxtaposition in between the absence of venture investment in Bitcoin (BTC) in contrast with its dominance of the total cryptocurrency market capitalization in discussion with Cointelegraphs Joseph Hall at the Lugano Plan B Summer School in Lugano, Switzerland.Adam Back along with Cointelegraphs Joseph Hall in Switzerland.” Meanwhile, Twitter co-founder and Bitcoin advocate Jack Dorsey contributed $5 million to Bitcoin designer support nonprofit Brink. Backs Blockstream and Lightning Labs are associated as significant resource contributors to the continuous development of the Bitcoin protocol, both using eight developers each devoted to the preeminent cryptocurrencys maintenance.The interview is part of an upcoming Cointelegraph documentary about what its like to go to a Bitcoin School.