The Founder of Karma Finance and Creator of the Initial Coin Offering (ICO), Antoine Sorel Néron
Antoine Sorel Néron has been featured in South China Morning Post, Hong Kong's largest and most respected newspaper, Bloomberg Television, TechCrunch, and more.
About the Founder
An entrepreneur from age eight, the Canadian-American founder of Karma Finance and creator of the first true ICO has also worked for some of the biggest companies in the world, including Leo Burnett, Energizer, Thompson, KPMG, Unilever, Proctor & Gamble, and others. At age 20 he joined Financial Relations Board, then the largest financial public relations firm in the US, where he quickly rose through the ranks to become the youngest executive in the history of the company. With a staff of two assistants he provided a full suite of shareholder management services directly to the board of directors of Fortune 100 clients such as EMC, Starwood Financial Trust, Flextronics, and Molecular Biosystems while simultaneously acting as both interim Director for the department and interim Director of Research for the company. After being both honoured with an inclusion in the 1994-1996 editions of Standard and Poor's Register of Corporations, Directors and Executives as its youngest member and personally commended by the president of the company for rescuing a large and difficult client, he moved on to function as the sole project manager for the City Colleges of Chicago's 'Year 2000' project, successfully auditing more than 27,000 PCs, workstations, and servers across 19 locations with a staff of 30. Afterwards, he provided digital asset management services for Energizer and Ben & Jerry's before relocating to Hong Kong and starting several multi-million dollar internet businesses using his own funding. He cares deeply about humanity and is committed to bridging the chasm between new technologies and traditional social values.
The Birth of Karma Finance and Creation of the World's First True ICO
Karma Finance was born out of a desire to help others who help themselves, wherever they may be. A derivative of the 'Karmacoin' cryptocurrency project that was abandoned by its developer in 2014, Antoine, also known as "Kosmost" in the crypto world, stepped up as the project leader and spearheaded a plan to revive Karmacoin and its amazing community.
Through his leadership the Karmacoin community grew substantially and in early 2014 became the first coin to be revived, was among the first coins to successfully switch algorithms, the first to incorporate and run as a business, the first to provide detailed project plans and a schedule to the community, the first coin to allow the community to vote on matters, the first to incorporate and run as a business, the first coin to hold an ICO, issuing 'sharepoints' for Karmashares and sub-entities (called IPOCOs) and inspired other coins to consider the same model that has evolved into the ICOs we know today, was one of the very first cryptocurrencies to issue press releases, among the first to apply for a trademark, the first to offer a contact number on its website, the first to schedule a conference call with coin-holders, and many others milestones.
Here is the post from April 9, 2014 that proposed the idea of an initial coin offering and a pre-announcement of the world's first true ICO, which was launched on April 19, 2014. Although Mastercoin held a 'crowdsale' iin 2013 it is not the same as an ICO. Crowdfunding is merely a method of fundraising (or, as their whitepaper puts it, their crowdsale "will essentially be a fundraiser to provide money to pay developers to write the software which fully implements the protocol"), whereas an ICO is meant to raise both capital and act as a representation of ownership interest in an enterprise, like a digital stock certificate, according to Amy Wan, Esq., of Trowbridge Sidoti LLP. We referred to the new model as both POC (proof-of-coin, to secure the coin's economy) and IPOCOs (Initial Public Offerings for COins, for subsidiaries or derivatives) and issued digital certificates to go along with our list of participants as well as bonus periods for earlybirds. CoinTelGraph reported on our being the first cryptocurrency to issue shares. We may have even inspired MaidSafe's (MasterCoin) token sale, as a Karmacoin team member was the very first (non-mastercoin) poster on the official MasterCoin Foundation thread and promoted Karmacoin on their thread just a few days before we announced our ICO and 12 days before MaidSafe/Mastercoin announced its token sale..
However, the ICO was never meant to serve as a business model as, unfortunately, nearly all subsequent ICO projects have done. Karmashares operations were voluntarily wound down just a few months after starting up just to be on the safe side of new SEC guidance for the burgeoning cryptocurrency industry released in August of 2014. (Note: Karmashares nor its agents never heard from the SEC, but wanted to voluntarily comply with their new guidance.) Within 48 hours, 100% of coins received were returned to all participants, perhaps one of the only ICO project that has ever done so.
Karma Finance is a sister project of Consensus Finance, scheduled to launch in 2020. In the Consensus Finance (CoFi) framework, users can create and participate in permissionless, shared public organizations that run on smart contracts called Incentivized Token Organizations (ITOs). ITOs allow people to claim rewards for producing and discovering economic value and exchange that value with others in a decentralized way.
You can connect with Antoine via LinkedIn.