Jimmy Wales Says Wikipedia Will Never Hold An ICO

Jimmy Wales Says Wikipedia Will Never Hold An ICO

Jimmy Wales, the founder of Wikipedia, said the not-for-profit online encyclopedia platform is not interested in holding an ICO (Initial Coin Offering) and it probably never will. It will also never issue its own cryptocurrency.

Wales said, speaking to Business Insider after delivering a speech at a recent blockchain event organized in Berlin:

“We are absolutely never going to do that. Zero interest.”

He has been skeptical and incredulous in the past about ICOs, cryptocurrency, and even the underlying blockchain technology, notably saying that many initial coin offerings are nothing but scams and provide little, if anything, in terms of value.

Wales said he was at the event largely because people pay him to deliver speeches.

However, he has some interesting opinions on the technology. He said that while he has some ‘reservations’ about the distributed ledger technology, he finds it super interesting but considers it a bubble with a great deal of hype and mania surrounding it.

The non-for-profit platform maintains its page by volunteers from public and is run through traditional donations, including ones made in Bitcoin (BTC). Wikipedia started accepting bitcoin by market value four years ago, after its founder made a statement about being “cautious” of the technology.

According to reports at the time, Wikipedia made £140,000 within the first week of crypto donations on the platform. It received 237 bitcoins at the time.

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