Wikipedia Has 'Zero Interest' in an ICO, Says Jimmy Wales

Wikipedia founder Jimmy Wales has said the not-for-profit online encyclopedia platform will "never" hold an ICO or issue its own cryptocurrency.

AccessTimeIconAug 1, 2018 at 9:30 a.m. UTC
Updated Sep 14, 2021 at 1:53 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Wikipedia founder Jimmy Wales has said the not-for-profit online encyclopedia platform will "never" hold an ICO or issue its own cryptocurrency.

Speaking to Business Insider after giving a speech at a recent blockchain event in Berlin, Wales told the news source:

"We are absolutely never going to do that. Zero interest."

Wales has been skeptical in the past about cryptocurrencies and blockchain, notably saying that many ICOs are "absolute scams" and that they offer "nothing of value."

Wales was speaking at the Berlin event largely because "People pay me to give speeches," he said.

However, he added that, while he has "reservations" about blockchain, "It's a super-interesting technology, but it's clearly a bubble with a lot of mania and hype around it."

With its pages maintained by volunteers from the public and an ICO ruled out, Wikipedia will keep running via traditional donations – including ones made in bitcoin. Wikipedia started accepting the top cryptocurrency by market value in 2014, after Wales initially said he was "cautious" about the technology.

According to a CoinDesk report at the time, the platform made £140,000 in its first week of crypto donations. The roughly 237 BTC it received then would be worth $1.8 million at today's prices.

Jimmy Wales image via Joi Ito/Wikimedia

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.