J. R. Willett launched the first ICO… but still has a day job

J. R. Willett launched the first ICO… but still has a day job


ICOs? He held the first one. Stablecoins? He dreamed of them by accident. Vitalik Buterin tried to get him on board to help launch Ethereum, but he was too busy. He is J. R. Willett, one of the most fascinating men in the industry.

Back in 2012, Willett, now 41, felt he could improve Bitcoin by making it possible for anyone to create interoperable tokens backed by the protocol. He released a white paper that described the new model and invented a way to fund the project with a token sale. He procrastinated for the next 18 months, hoping someone else would take the bait. Eventually, he gave in and announced the Mastercoin initial coin offering, which went on to inspire Ethereum and every subsequent ICO.

“It felt like I was just putting into words what was obviously going to happen — people were already talking about it, and I thought, ‘Why hasn’t someone formalized this at least a little bit?’

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