# Initial coin offerings `kaal:entity:initial-coin-offerings` **Status.** derived This node is assembled mechanically from the 8 claims that carry the concept tag `initial-coin-offerings`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself. ## Every claim under this term 8 claims across 4 works, 2017 to 2024. **2017** - [3002908-039](https://wulfkaal.github.io/claims/3002908-039) [predictive/evidenced] -- Initial coin offerings have overtaken venture capital as a funding channel for blockchain start ups, raising 331 million dollars in twelve months, and may become an alternative funding method for traditional companies as well. > Started as a phenomenon that is revolutionizing the way start-up companies investing in blockchain raise capital (in the last 12 months ICOs have raised $331 million, overtaking venture capitalists' investments),157 it may become an alternative method for many traditional companies. Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908 - [3067615-001](https://wulfkaal.github.io/claims/3067615-001) [mechanism/argued] -- 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). SSRN: https://ssrn.com/abstract=3067615 **2018** - [3117224-001](https://wulfkaal.github.io/claims/3117224-001) [mechanism/asserted] -- Initial Coin Offerings provide unprecedented liquidity and efficiency for capital formation while minimizing transaction cost. > Initial Coin Offerings (ICOs) provide unprecedented liquidity and efficiency for capital formation while minimizing transaction cost. Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224 - [3117224-002](https://wulfkaal.github.io/claims/3117224-002) [mechanism/argued] -- Unlike other means of capital formation, ICOs allow promoters to raise funds without sacrificing equity, so proceeds can be used exclusively for product development. > Unlike other means of capital formation, ICO's allow promoters to avoid sacrificing equity for financing. Instead, ICO promoters can use the proceeds of the ICO exclusively for product development. Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224 - [3117224-003](https://wulfkaal.github.io/claims/3117224-003) [mechanism/asserted] -- ICOs lower barriers to entry for a diverse body of investors and thereby increase the diversity and heterogeneity of start-up funding. > ICOs provide low barriers to entry for a diverse body of investors and thus increase the diversity and the heterogeneity of start-up funding. Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224 - [3117224-004](https://wulfkaal.github.io/claims/3117224-004) [mechanism/argued] -- ICOs enable borderless online sales with fewer points of friction, letting promoters bypass typical legal, jurisdictional, and business hurdles by marketing directly to a worldwide investor pool. > First, ICOs enable borderless online sales with much fewer points of friction. ICOs enable the promoters to bypass the typical legal, jurisdictional, and business hurdles by directly marketing to a worldwide pool of investors. Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224 - [3117224-007](https://wulfkaal.github.io/claims/3117224-007) [mechanism/argued] *(failure mode)* -- The absence of mandatory disclosure requirements for ICOs leads many promoters to make irregular or no disclosures about the platform over time, producing a significant lack of transparency in the ICO market. > Moreover, the lack of mandatory disclosures for ICOs leads many promoters to make irregular or no disclosures about the platform as time passes, leading to a significant lack of transparency in the ICO market. Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224 **2024** - [4900878-020](https://wulfkaal.github.io/claims/4900878-020) [failure/argued] *(failure mode)* -- The 2017 ICO wave democratized access to investment and spurred blockchain innovation, but the absence of regulatory oversight produced numerous fraudulent projects, which exposed the need for robust economic models and regulatory frameworks inside token ecosystems. > However, the lack of regulatory oversight also led to numerous fraudulent projects Wulf A. Kaal, Quantum Economy and Tokenomics (2024). SSRN: https://ssrn.com/abstract=4900878 ## Verify Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust. curl -s https://wulfkaal.github.io/entities/initial-coin-offerings.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.