In an interview with CNBC on August 24, Crypto Valley Association President Oliver Bussmann said that over the long term the ICO model “will disrupt the whole IPO business” by providing a transparent, global digital platform that will make it much easier and cheaper for companies to issue equity.

Speaking by telephone as part of a joint interview with the ex-CEO of Barclays, Antony Jenkins, Bussmann also said “the whole ICO business model is, after Bitcoin, the first big proof point for blockchain’s life in business,” and that ICOs represented the “next maturity level in getting funding, instead of going through a venture capital model.”

Over USD 1.6 billion have been raised in ICOs over the past 12 months, Bussmann said.

You can listen to the whole interview on the CNBC site.