STA, 8 January 2018 - The business newspaper Finance examines on Tuesday the remnants of the crypto craze that gripped Slovenia at end of 2017 and the beginning of 2018, arguing that "not much is left": several companies that turned to ICOs for funding went bust, while others barely live on.
"Not a single token [released in Slovenian ICOs] has managed to stay above the price with which they entered the crypto market. This means that anybody who participated in any Slovenian ICO project and has not sold its tokens, has lost their money," the paper notes.
There were many ideas in various fields, including banking, auditing, payment services, supply chains and car rentals, and some still persist, but "it is becoming crystal clear that they did not join the hype to solve the problems but because it was easy to raise funds".
"I do believe that the intentions of most crypto entrepreneurs were not bad and that they really wanted to do something good.
But their wish was powered significantly by the fact that they could play without their own input, that is with the funds of others," the paper goes on under Without a Light at the End of Cryptotunnel.
"If they would have had to take out a loan to embark on their business path, nine out of ten companies likely would not have had emerged," says Finance.
"On the other hand, many who left the cryptoparty in time got rich and earned enough in a couple of years to be covered for the rest of their lives. Some even entered the ranking of the richest Slovenians.
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