The cryptocurrency space is nearly a decade old and has grown from its beginnings as a fragmented sector to hundreds of incredibly successful companies, many of which play a critical role in the framework that underpins the industry in its current iteration.
Many of these companies were founded and run by individuals who are now trying to expand their influence in the field. Keeping track of what the success stories of the past five years are doing today can be a great way to identify the potential for success of different companies in the future, which in turn can be a great way to identify promising ICOs.
One person we’ve been watching closely is Ryan Fugger, Ripple’s advisor, and he’s just revealed his cards of what he’s working on next.
Before we get to his work and for everyone who doesn’t know him yet, let’s briefly introduce Fugger.
As mentioned, Ryan Fugger is one of Ripple’s early advisors. Ripple is a payment protocol that enables banks to send international payments over networks in real time. Just like Bitcoin, it is based on a decentralized ledger and the transaction process is similar in nature to that underlying Bitcoin, but unlike Bitcoin, Ripple enables transactions between the ledgers.
After conceptualizing and developing Ripple as a payment protocol, led by Fugger, Ripple was founded to serve as a sort of corporate front for the protocol.
From Concept to Current State Ripple has attracted significant investments from some of the biggest names in tech – Andreessen Horowitz, Pantera, Google, IDG – and has recently caught the attention of the financial world (which the concept is targeting) by getting funds from Santander has picked up Accenture and Standard Chartered.
Last June, the company was named one of Fortune’s five hottest fintech companies.
After all that success at Ripple, what is Fugger doing now?
He is now a consultant for a company called Clout. Clout is a blockchain and cryptocurrency-focused media platform that is structured similarly to a social media sharing platform like Reddit.
Users create and submit content that is then consumed and ultimately rated by other users. Based on their rating of the content shared or submitted, the users who consume it can reward the content (and the users who created or shared it) with a token called the CLC. CLC will be issued one-to-one with another token called CLOUT, the company’s ICO token (the ICO is currently taking place and you can participate here) and will also be tradable (after-ICO) through the various cryptocurrency exchanges it is on today Market there.
What is the difference between Clout and the platforms mentioned above? In other words, what makes the team behind Clout, including Fugger, believe that the company’s proprietary platform can outperform those based on a similar model that are well established in the market today?
Well, we say the similar model for a reason. Clout differs from Reddit by using its CLC tokens as a voting tool, while Reddit uses the standard upvote system. This translates into a direct monetary gain for content creators, thereby creating incentives for the production and distribution of high quality content.
In addition, Clout is geared towards crypto. The company bills as follows:
“CLOUT becomes the quality standard for all cryptocurrencies: users, media, news, social issues, ICOs, investments and reviews – ONE STOP SHOP FOR ALL CRYPTO”
This type of one-stop shop does not currently exist. The media and publishers are fragmented, often unreliable and – in some cases – biased due to property interests and the like. While Clout will generate income from online advertising, the fact that users decide which content gets the most airtime (using the CLC payments) means that its coverage remains independent.
Is that what Fugger is working on? If he can even come close to replicating the success he achieved at Ripple with Clout, the latter could be a real winner, along with a Stellar management team including David A. Cohen as CEO, a pioneer in decentralized software and – on behalf of the company – for us one of the top ICOs that you should look at right now.