Who this is
Christoph Jentzsch studied theoretical physics and discovered Bitcoin in 2013 while doing his PhD. In 2014 he joined Ethereum as a developer and, in Berlin-Kreuzberg, tested the specification that the Ethereum clients built by Vitalik Buterin, Gavin Wood and Jeffrey Wilcke had to pass. He then founded Slock.it and wrote most of the code for The DAO, which raised around 150 million before a bug in the code let a hacker drain roughly a third of it. In 2019 he sold Slock.it and went on to back almost 20 companies as a business angel. Today he is building Tokenize.it as a solo founder, a platform that lets German GmbHs issue digital shares as tokens. He lives with his wife and eight children in Mittweida, Saxony, where he serves as the volunteer bishop of a church congregation of 200 members.
Episodes
Numbers from the episode
FAQ
What is Tokenize.it?
Tokenize.it is a platform that lets German GmbHs issue digital shares as tokens on Ethereum. Legally the token is a profit participation right: it carries the same economic rights as a regular share, meaning dividends and exit and liquidation proceeds, but no voting rights. It can be converted into a real share at any time. The platform handles private fundraising via a personal link and crowdinvesting from 50 euros, with no notary appointment. To the episode →
How is Tokenize.it different from traditional crowdinvesting platforms?
Many crowdinvesting platforms use subordinated loans: if things go well you get your money back with interest, if they go badly it's gone. Christoph calls that the worst of both worlds. On Tokenize.it investors get economic equity and share in dividends and exit proceeds. To the episode →
How much does Tokenize.it cost?
According to Christoph, 5,000 euros a year as a SaaS fee plus 2% of the money raised through the platform. On 100,000 euros that comes to 2,000 euros. To the episode →
How does a funding round on Tokenize.it work?
You register your company and all shareholders sign that the managing director may issue the tokens. After that you can send an investor a personal link to close the investment directly, or put an Invest Now button on your website so anyone can invest from 50 euros. To the episode →
Quotes
„Niemand hat auf den Knopf gedrückt, was sich keiner getraut hat.““Nobody pressed the button; nobody dared to.”
„Aber wenn du dich in diesen extrem Situationen richtig verhältst, dann ist das sogar für einen Kunden, auch für einen Investor später, eher ein Vertrauensgewinn.““But if you behave the right way in these extreme situations, it actually builds trust, with customers and later with investors too.”
„Wie würden deine Verkaufszahlen aussehen, wenn du nur einmal im Jahr und nur beim Notar verkaufen darfst?““What would your sales numbers look like if you were only allowed to sell once a year, and only in front of a notary?”
„Wir haben keine Ahnung, wie groß etwas werden kann.““We have no idea how big something can get.”
„Ich lasse mich wirklich auf Kritik ein und bin nicht gekränkt.““I really open myself up to criticism and don't take offence.”