Initial Coin Offerings: Future of the future of finance
By trying to operate outside the scope of regulators, ICOs have paradoxically drawn the attention of all regulators
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THE question of whether the blockchain will end up as nothing or everything, continues to be asked with no definitive answer as yet. Initial coin offerings (ICOs) are a good lens through which we can view the issues challenging regulators and market participants.
ICOs are digital tokens, typically based on the blockchain technology underlying bitcoin's functionally similar but more versatile cousin ethereum.
ICOs typically function as a "smart contract" application layer - essentially a small piece of code prescribing certain rules governing the ICO's existence - on top of an existing blockchain network.
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