Friend Software Corporation CEO Arne Blix was recently interviewed by the largest financial-focused newspaper in Norway, Finansavisen.
In this article we discuss more about our upcoming ICO and explain the Friend platform to their audience.
You can read the Google Translated version below.
Translation to English:
The software company Friend is on money hunting. The goal is to collect up to NOK 750 million via the crypto currency Ether.
“We could have chosen Switzerland, Malta or Gibraltar, but just two weeks ago we made an important decision to make crowd funding from Norway. The reason is that we want to do this in a country of openness and in a country that has strict requirements and which is regulated by a functioning law, “says Arne Peder Blix, CEO and one of the two entrepreneurs in Friend Software Corporation.
The software company plans to be the first in Norway to make an ICO (Initial Contribution Offering) from Norway, ie a capital acquisition based on the crypto currency Ethereum.Beats the venture capital
In the second half of January, Friend will issue so-called tokens to create the world’s first operating system for blockchain technology, which is also the technology many associate with another crypto currency; Bitcoin.
Friend has named their tokens FNT (Friend Network Token), but it is neither a security nor a share, explains Blix.
While critics such as Warren Buffett have called Bitcoin for a mirage and unable to identify any inherent value in the currency, Ethereum is a smarter crypto currency, for example, to encode a voting right in a company, a right to any future dividend or other shareholder rights.
– Only in 2017, start-ups have raised up $ 3.6 billion through Ethereum globally. It’s one and a half times more than the venture companies have invested in start-ups, “says Blix.
“At the same time, it is important to emphasize that there is a risk associated with FNT, similar to shares and other securities.
The company is working to collect a minimum of 50,000 ether (which is the name of the currency associated with Ethereum), which is converted to Norwegian kroner equivalent to just under 190 million. The maximum amount is set at a total of NOK 750 million (200,000 ether), while in an interim scenario, NOK 375 million is targeted.
“I know that sounds amazing, but we have received indications from the environment that the maximum amount can be within reach,” Blix says.
No ”rubbish money”
The main difference between Ethereum and other cryptic currencies is that Ethereum is something more than a currency, it has an entire ecosystem attached to it. In the Ethereum universe, blockchain technology is utilized by companies or individuals so that they can sell / buy services and products, as well as create new applications through so-called “smart” contracts.
These projects and applications are owned by through tokens of companies and users who want access to a product or service but are also owned by investors who consider tokens as a right that can increase in value.
“We will make a proper fiat economy around Friend and with open source in the bottom we will be able to make amazing things,” says Blix. “We are going to build a digital amusement park. Those who buy our tokens will have access to the carousels when the amusement park opens”, Blix says.
The amusement park is a significant investment in blockchain technology, the technology that the big research companies is expected to be as important as, for example, artificial intelligence and IoT in the years to come.
– In short, Friend Unifying Platform (FriendUP) deals with solving the problems that arise by using different operating systems that do not interact, Blix says.
The company brings experts in programming languages and user interfaces and brings with it people who were central when Commodore was robbed in the 80’s and others with experience from MicroFocus, SanDisk, Logitech, etc.. Friend is also working closely with operating systems experts from old Nokia who are now working for Chinese Huawei.
The technology already generates revenue and the company has customers all over the world.
– In Norway, we have provided a solution that makes patient records and associated software available in the browser. The solution then works across all the different providers that a regular general practitioners office uses today, says Blix. In this context, the solution from Friend is best understood as a modern Linux that can replace Citrix and VM-ware Horizon for the integration market.
According to the entrepreneur, there are several advantages of a common interface across the operating systems.
“First, it will be far easier for programmers,” says Blix.
– All information and all programs must be made available from a single application and work across all the “loyalty programs” that Apple and other operating system providers have established.
Blix has previously started and built up, among other things, the software company Accurate Equity, which he led to 2013 and later joined the board. Accurate Equity developed solutions to keep track of option and stock pay schemes and the company was sold to Equatex in 2015.
Friend has been in dialogue with the Danish Financial Supervisory Authority during the work with ICO and the company is working with Ernst & Young, DNB and other players in the Norwegian blockchain environment to get the first ICO in Norway in the best possible way.
The ICOs are unregulated in Norway, but we treat the transaction as if it were an IPO,” says Blix.
Today there are 1,320 different crypto currencies internationally, many of which are established via Ethereum. There are many Norwegian and foreign companies that follow how we do this in the hope of being able to follow. Part of this process is to build up knowledge about blockchain in Norway. To date, we are far behind countries like Finland and Sweden, says Blix.