kaal:claim:3067615-001

Initial Coin Offerings are the most efficient means of financing entrepreneurial initiatives in the history of capital formation, because they minimize transaction cost and democratize finance while dis-intermediating banks.

Initial Coin Offerings (ICOs) are the most efficient means of financing entrepreneurial initiatives in the history of capital formation. ICOs minimize transaction cost and democratize finance while dis-intermediating banks.

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017), Abstract, p. 1
https://ssrn.com/abstract=3067615 · source PDF

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

• ICO market as of November 2017

mechanismsupport: arguedsecurities-lawtokenomicsdecentralizationeconomics

• restated_by kaal:claim:3117224-001 Initial Coin Offerings provide unprecedented liquidity and efficiency for capital formation while minimizing t...
• supported_by kaal:claim:3117224-002 Unlike other means of capital formation, ICOs allow promoters to raise funds without sacrificing equity, so pr...
• extends kaal:claim:3002908-039 Initial coin offerings have overtaken venture capital as a funding channel for blockchain start ups, raising 3...

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• Extension: ,,,Initial Coin Offerings as Investment Contracts: Are Blockchain Utility Tokens Securities?
• Qualification: Cryptocurrency and Venture Capital: A Systematic Review of‎ Blockchain-Based Funding Mechanisms for Startups
• Qualification: Initial Coin Offerings: Emerging Practices, Risk Factors, and Red Flags