Jimmy Wales says Wikipedia will "never" hold an ICO

01 Aug, 2018
by Richard Allen
Jimmy Wales says Wikipedia will never hold an ICO

Founder of the non-profit online encyclopedia Wikipedia says the platform has no interest in ever holding an ICO or issuing its own cryptocurrency.

Speaking with BusinessInsider, Jimmy Wales ensured there was no ambiguity when asked about his cryptocurrency or ICO ambitions. "We are absolutely never going to do that. Zero interest," he said. The Wikipedia founder has become quite a prominent critic of blockchain technology, but still managed to secure a slot at Blockshow, the Berlin blockchain conference, because “People pay me to give speeches," he said.

It has become popular for companies to attach a cryptocurrency to their name, but Wikipedia will have none of it. The encyclopedia has an army of human editors that make sure the site is always full of relevant information. Working as volunteers, they ensure the site remains the fifth most popular on the internet.

Wales has been a critic of cryptocurrencies for some time now. As Chepicap previously reported, he has described the crypto world as being in a bubble, and describing ICOs as being “absolute scams.”

Wales is working on his new project, WikiTribune, a for-profit media outlet born from the recent “fake news” hysteria. The site will employ a similar principle to that of Wikipedia, aiming to unite journalism veterans with volunteers to research, fact-check, and report the day’s news stories.

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