As the ban came into effect, the token issuers shifted the business to Hong Kong and Japan. Tron is one among the flock of token issuers who are still investing and flourishing with the money raised.
Sun said that he is looking forward to setting up an office in India. Tron returned the funds collected from Chinese investors soon after the ban came into effect. “It’s [the clampdown] taken the heat off [the market]. It’s now more sensible,” Sun told South China Morning Post in an interview.
Most firms followed the ruling from the government. It didn’t trigger anything badly, if there had been a financial risk then it [the ban] would have solved it,” Sun said.
However, the magic spellbound to ICOs has not yet lost their intensity. According to the report released by Crypto Valley Association in June 2018, 547 ICOs were organized across the world and has raised an amount of 13.7 billion USD with PwC’s strategy and consulting division Strategy.
No Strong Regulation To Monitor ICO’s
As per the statistical report by Token Data, a research firm, about half of the ICOs have shrunk into the black hole after getting hold of millions of dollars from the investors.
Tron owns Peiwo, a blockchain based app just like Snapchat that matches and connects users via 10-second audio sample. Currently, Tron does not have many active users. Most importantly, it highly depends on the this app for profit. Sun said that the app may be a sole candidate for fundraising.
In the month of June 2018, it has paid $120 million USD for BitTorrent. The software stores and distributes both the data files and electronic files over the web. Most specifically, this gives Tron a mainstream business with about 180 million users to incorporate into the platform.
It aims to give digital content producers the right to the control of ownership and distribution. Besides, this helps to skip the charges from the centralized platforms such as Google Play, Amazon etc. It is a blockchain entertainment and content sharing platform.
Tron revealed its new Project Atlas, ‘an integration of Tron and BitTorrent,’ on July 31st, 2018.
 Raised $70M USD From A Coin Sale Before The ICO Ban In China){kind=link}
 Raised $70M USD From A Coin Sale Before The ICO Ban In China){kind=link}
Comments (No)