Initial Coin Offerings

Published: Jan 1, 2018
Abstract
This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts based on blockchain technology that are designed for entrepreneurs to raise external finance by issuing tokens without an intermediary. Unlike existing mechanisms for early-stage finance, tokens potentially provide investors with rapid exit opportunities thanks to liquid trading platforms. The marketability of tokens offers novel insights into...
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Paper Details
Title
Initial Coin Offerings
Published Date
Jan 1, 2018
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