Post-ICO interview with WAVES founder

Friday 03 June 2016

The day after the massively successful WAVES ICO finished, BitScan caught up with project founder and CEO, Sasha Ivanov, to discuss what would come next.


Sasha at the temporary WAVES office in Moscow, which is about to get a lot bigger and busier

WAVES raised an incredible 29,634 BTC, just short of Ethereum’s 31,531 BTC back in summer 2014. Were you surprised at the amount, and what do you think prompted such remarkable investment?

Yes, I must admit that the target was a little lower. But the timing was right, after several projects had launched successfully people had more faith in crypto technology, and I think that now is a pivotal moment in general - we're on the brink of blockchain mass adoption. So it's quite possible that even bigger projects will arrive soon. Besides, our focus on mass adoption has certainly helped.

With a market value of around $16 million, that puts WAVES at #6 in the list of top crowdfunded projects ever. So, what do you plan to do with it all?!

With additional funds raised we're considering implementing WAVES clients in C++ parallel to Scala. That should help us with weeding out errors and making the network more stable. Also a substantial part of the raised funds will be used for marketing and forging partnerships with financial institutions worldwide.

You’re using cold storage, right? :)

Yes, of course! After the mainnet is operational ICO funds will be withdrawn to a cold storage multisig wallet.

More seriously, other big projects have been criticised for their high burn rates and the pressure this placed on them to bring their offering to launch. How will you honour WAVES-holders’ investments and give them confidence you can do a good job?

I think that transparency is the key here. We will be providing constant updates on our development progress, I plan to do weekly hangouts with Waves community, and provide transparent financial records of our spending.

What will the extra money enable you to do that you couldn’t have done with less?

We will try to hire top talent in crypto and programming. Also, raising so much is good for publicity and attracting attention to our project. It will be easier to deal with established financial institutions for us now.

The lite client, stable mainnet and exchange trading will all happen over the next couple of weeks. After that, what’s the next big milestone to look forward to?

The next big milestone is custom tokens, and decentralised trading of course. The launch of the first crowdfunding campaign on the platform will be a very important day for Waves.

Stay tuned because there are high expectations for WAVES, and a lot more to come.

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