VIRTUAL CURRENCIES, A NEW BUSINESS DEVELOPMENT MODEL

Catalin Dragoi ()
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Catalin Dragoi: “Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Romania

Contemporary Economy Journal, 2019, vol. 4, issue 2, 129-134

Abstract: On the background of the development and maturity of virtual currency markets a new type of business or company emerged. The classic method by which a company becomes public by winning funds from individual investors is by selling shares in an initial public offering. What is called "initial coin offering" is in the area of cryptocurrency equivalent to an initial public offering in the world of the main investments, the initial offer of the currency acting as a collector of funds. Most often, initial coin offerings are used by new companies to circumvent the rigorous and regulated process of capital increase demanded by investment funds or banks. The paper aims to analyse how virtual currency work, what their characteristics are, and whether they can be an economic development factor.

Keywords: virtual currency; initial coin offerings; business model (search for similar items in EconPapers)
JEL-codes: E40 M13 O16 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:4:y:2019:i:2:p:129-134

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