Initial Coin Offerings - how it all started

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Chapter 2 in Understanding Initial Coin Offerings, 2024, pp 8-32 from Edward Elgar Publishing

Abstract: This chapter provides a comprehensive exploration of the economic and financial environment of the early 2010s, setting the stage for the inception of Initial Coin Offerings (ICOs). We analyse the evolving financial landscape affected by the 2008 Great Recession, regulatory shifts, and the challenge traditional institutions faced due to the rise of fintech startups. We also delve into traditional startup funding methods, highlighting their limitations, and discuss the emergence of crowdfunding as an alternative, spotlighting its growth, regulatory influences, and industry challenges. We then pivot to the technological breakthroughs, Bitcoin and blockchain, crucial to ICOs. This chapter underscores the need to understand these contextually critical factors to fully appreciate the potential of ICOs as an innovative funding tool and their impact on the future of finance.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2024
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