Replacing Wall Street Banks

   A conventional IPO includes very high fees for Wall Street underwriting banks. VERY HIGH.

   Recently, the cryptocurrency community demonstrated a most remarkable use of the bitcoin blockchain. With no bank and more importantly no bank fees at all, MaidSafe managed to raise over $6 million dollars in about 5 hours.

   If I had a healthy young company ready for equity sharing - I would laugh at the notion of flying to New York to talk with an investment bank. I would follow MaidSafe's smart move and use the impenetrable ledger of the bitcoin network to raise funds and distribute equity.

   Ladies and Gentlemen, I think we just witnessed this week one of the most remarkable displacements of traditional banking. While MaidSafe's event was not perfect, all-in-all it could fairly be characterized as remarkably successful. Some people here want to beat down the MaidSafe technology, others want to splash Gox' taint on the project, but one thing is certain: that was a very cool cryptotransaction which made Wall Street lose a tons of fees.

   I hope we see more in the near future. Congratulations to MaidSafe. Well done.