My suspicious thoughts on Tezos and its ICO...

Tezos is one of the hyped new kids on the block (chain). In fact it's the largest ICO ever, worth over $200M already, surpassing EOS and Bancor.

The promise is simple: even better than BitCoin and Ethereum, by removing the need of forks (like when Ethereum Classic happened, or the controversial BIP 148).

Even mainstream VC investors like Tim Draper are making headlines funding these projects with millions...

So I went into their website, https://www.tezos.com and read all about it. OK sounds great but... What makes this the last improved blockchain? I mean how many more of these are going to come out with incremental improvement on BitCoin, Ether, Waves, Tezos, etc... Who knows! So what makes it unique and valuable?

Another weird finding: the code is completely proprietary! "Dynamic Ledger Solutions, Inc. (DLS) is a US-based company currently controlled by its founders, Kathleen & Arthur Breitman. It owns all of the Tezos-related intellectual property (IP), including the source code of the Tezos cryptographic ledger" from tezos.com/dls

They seem to have an alpha or a demo avaiable but I wasn't able to confirm. I don't know, seems like more and more hype with less and less substance on the cryptocurrency world from my perspective. If and when the crash comes, many of these companies will simply declare crypto-bankrupcy and not ever complete their roadmaps. Isn't it obvious?

What am I missing? #RememberTheDAO

I'm not a profesional investor and this istn't investment advice.