A comprehensive review of the global development of initial coin offerings (ICOs) and their regulation

Cristiano Bellavitis, Christian Fisch, Johan Wiklund

Research output: Contribution to journalArticlepeer-review

39 Citations (SciVal)

Abstract

Initial coin offerings (ICOs) represent an innovative and new funding mechanism for new technology ventures. In our comprehensive review of the industry's evolution, we show that despite its short history, there have been dramatic changes and shifts in the number of ICOs, the amount of money raised, the geographic distribution of ICOs, and their regulation. This dynamism calls into question current research practices and findings. We propose that scholars sort out and differentiate supply of vs. demand for ICO funding, taking geography and regulation into account with a global perspective.

Original languageEnglish
Article numbere00213
JournalJournal of Business Venturing Insights
Volume15
Early online date28 Nov 2020
DOIs
Publication statusPublished - 1 Jun 2021

Bibliographical note

Publisher Copyright:
© 2020 Elsevier Inc.

Keywords

  • Blockchain
  • Cryptocurrency
  • Digital finance
  • Entrepreneurial finance
  • FinTech
  • Initial coin offerings (ICO)
  • Regulation
  • Token sale

ASJC Scopus subject areas

  • Business and International Management
  • Management of Technology and Innovation

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