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Author: Nikolaus Lipusch Publisher: ISBN: Category : Languages : en Pages : 21
Book Description
Initial Coin Offerings (ICOs) emerged as a new type of fundraising that is conducted over the web and is mainly used by open-source blockchain-type start-ups to get their business started. While ICOs recently attracted a lot of attention from investors as well as the media, research on this topic is still nascent. The aim of this paper is to collect and analyze currently available information on ICOs in order to provide foundational knowledge on this rather young phenomenon. To derive a first working definition of the concept, we compare ICOs to more established fundraising mechanisms (i.e. Crowdfunding, Venture Capital and Initial Public Offerings) to identify main differences and commonalties. Furthermore, we provide a short overview of how ICOs work as well as the business models that are associated with this type of funding. Finally, we discuss the broader implications of this new type of fundraising. Therefore, the paper discusses two major potentials of ICOs, which lie 1) in the democratization of venture capital as well as 2) in incentivizing the creation of new protocol technologies that form the basis for new innovative business models. Our main contribution lies in providing researchers an overview and a conceptualization of Initial Coin Offerings. In doing so, we hopefully encourage more researchers to pick up this interesting topic and to produce research on their own to further advance the field.
Author: Nikolaus Lipusch Publisher: ISBN: Category : Languages : en Pages : 21
Book Description
Initial Coin Offerings (ICOs) emerged as a new type of fundraising that is conducted over the web and is mainly used by open-source blockchain-type start-ups to get their business started. While ICOs recently attracted a lot of attention from investors as well as the media, research on this topic is still nascent. The aim of this paper is to collect and analyze currently available information on ICOs in order to provide foundational knowledge on this rather young phenomenon. To derive a first working definition of the concept, we compare ICOs to more established fundraising mechanisms (i.e. Crowdfunding, Venture Capital and Initial Public Offerings) to identify main differences and commonalties. Furthermore, we provide a short overview of how ICOs work as well as the business models that are associated with this type of funding. Finally, we discuss the broader implications of this new type of fundraising. Therefore, the paper discusses two major potentials of ICOs, which lie 1) in the democratization of venture capital as well as 2) in incentivizing the creation of new protocol technologies that form the basis for new innovative business models. Our main contribution lies in providing researchers an overview and a conceptualization of Initial Coin Offerings. In doing so, we hopefully encourage more researchers to pick up this interesting topic and to produce research on their own to further advance the field.
Author: Umit Hacioglu Publisher: Springer Nature ISBN: 3030252752 Category : Business & Economics Languages : en Pages : 568
Book Description
This book discusses various aspects of blockchains in economic systems and investment strategies in crypto markets. It first addresses the topic from a conceptual and theoretical point of view, and then analyzes it from an assessment and investment angle. Further, it examines the opportunities and limitations of the taxation of crypto currency, as well as the political implications, such as regulation of speculation with crypto currencies. The book is intended for academicians and students in the fields of economics and finance.
Author: Dmitri Boreiko Publisher: Universitas Studiorum ISBN: 8833690474 Category : Business & Economics Languages : en Pages : 182
Book Description
The great and fastening strides of the Fintech revolution continuously transform once-static traditional financial industry and provision of credit in particular. Blockchain innovation has led to creation of new industry of raising funds without the need for financial intermediaries such as venture capital or banks. In this book we build up a holistic picture of the token sales or initial coin offerings (ICOs) from their inception in 2013 to our days. We analyze the initial phases of the industry’s development, collecting information on all campaigns or ICO attempts in this period, providing a thorough quantitative analysis of the phenomenon. We also provide a detailed account of token sales mechanics and overview all the main actors in this new ecosystem of blockchain-based financing. By leveraging the open data on token sales contributions, we study the behavior of token sales investors and find out that recurrent investors do not succeed in selecting better ICO projects but bigger investors do. In the last part of the book, we study crypto tokens as investments and overview their functionality and risks involved, as well as look at the alternative methods of creating and distributing tokens and compare them to token sales.
Author: Stéphane Goutte Publisher: Springer Nature ISBN: 3030307387 Category : Business & Economics Languages : en Pages : 202
Book Description
This book describes how the rapid advancement in encryption and network computing gave birth to new tools and products that have influenced the local and global economy alike. One recent and notable example is the emergence of virtual currencies (such as Bitcoin) also known as cryptocurrencies. Virtual currencies introduced a fundamental transformation that affected the way goods, services and assets are exchanged. As a result of its distributed ledgers based on blockchain, cryptocurrencies not only offer some unique advantages to the economy, investors, and consumers, but also pose considerable risks to users and challenges for regulators when fitting the new technology into the old legal framework. The core of this proposed book is to present and discuss the evidence on financial asset capabilities of virtual currencies. The contributors of this volume analyze several interesting and timely issues such as the particularities of virtual currencies and their statistical characteristics; the diversification benefits of virtual currencies; the behavior and dependence structure between virtual currencies and the financial markets; the economic implications of virtual currencies, their effects, their price risk, and contagion spillovers in a unified and comprehensive framework; the future of virtual currencies and their distributed ledgers technology.
Author: Hans Landström Publisher: Edward Elgar Publishing ISBN: 1800371659 Category : Business & Economics Languages : en Pages : 247
Book Description
Fully revised and updated, this Advanced Introduction provides a comprehensive understanding of entrepreneurial finance of new and growing ventures. With a unique research-based focus, Hans Landström synthesizes contemporary knowledge and presents diverse theoretical approaches to explain financial decision-making in entrepreneurial ventures.
Author: Dmitri Boreiko Publisher: Edward Elgar Publishing ISBN: 1803921587 Category : Business & Economics Languages : en Pages : 275
Book Description
Delving into the comprehensive evolution of Initial Coin Offerings (ICOs), this innovative book traces their origins and transition into modern forms such as Security Token Offerings, Initial Exchange Offerings, Initial DEX Offerings, and Non-Fungible Tokens. It provides an in-depth analysis of the factors behind the appeal of ICOs, the complex ecosystem surrounding them, and the key developments within the blockchain and cryptocurrency space.
Author: Rim Jallouli Publisher: Springer Nature ISBN: 3031427882 Category : Computers Languages : en Pages : 443
Book Description
This book constitutes the proceedings of the 8th International Conference on Digital Economy, ICDEc 2023, which took place in Braga, Portugal, in May 2023. The 26 full papers included in this volume were carefully reviewed and selected from 72 submissions. They were organized in topical sections as follows: Digital transformation; e-learning and digital competencies; digital marketing and artificial intelligence; e-finance and digital assets; digital marketing and data analytics; digital economy; online session.
Author: Eilís Ferran Publisher: Oxford University Press ISBN: 0192634682 Category : Law Languages : en Pages : 705
Book Description
Corporate finance theory seeks to understand how incorporated firms address the financial constraints that affect their investment decisions. This is achieved by using varied financial instruments that seek to give holders different claims on the firm's assets. Recent scholarship in this area has highlighted the critical importance of the legal environment in explaining the choices that companies make about their capital structure. This book combines company law, capital markets law, and aspects of commercial and insolvency law to give readers a detailed understanding of the legal and regulatory issues relating to corporate finance. Informed by insights from theoretical and empirical work, the book examines from a legal perspective the key elements of corporate financing structures and capital markets in the UK. The authors' practical experience of transactions and regulatory issues ensures that thorough scholarly inquiry and critical reflection are complemented by an assured understanding of the interface between legal principles and rules as they are documented and in their actual operation. Key developments covered in this third edition include the post-Brexit adaptation of UK company law and capital market regulation, important new cases on parent company liability in tort, creditor-facing duties of directors, issuer and director liability for misleading statements to the market, alternatives to public market financing, and recent changes in the practice of debt finance.
Author: Jian Chen Publisher: Springer Nature ISBN: 9811512094 Category : Computers Languages : en Pages : 217
Book Description
This book constitutes the refereed proceedings of the 20th International Symposium on Knowledge and Systems Sciences, KSS 2019, held in Da Nang, Vietnam, in November 2019. The 14 revised full papers presented were carefully reviewed and selected from 31 submissions. This year KSS provides opportunities for presenting interesting new research results, facilitating interdisciplinary discussions, and leading to knowledge transfer under the theme of "Knowledge Science in the Age of Big Data".
Author: Nikolaus Lipusch
Author: Nikolaus Lipusch
Author: Ivona Skultétyová
Author: Umit Hacioglu
Author: Dmitri Boreiko
Author: Stéphane Goutte
Author: Hans Landström
Author: Dmitri Boreiko
Author: Rim Jallouli
Author: Eilís Ferran
Author: Jian Chen