It’s an IPO, It’s an ICPO. No, Wait, it’s an ICO!

What Happens When Venture Capital meets Cryptocurrencies (approximate reading time: 10–20 mins)

Idea in Brief

Cryptocurrency 101

Block Chain

Bitcoin & Other Cryptocurrencies

Ether & Ethereum

Initial Coin Offering (ICO)

Relatively Riskier Investment

Performance of Bitcoin

Performance of Ether

Performance of Litecoin

Legal and Regulatory Challenges

The Mt. Gox Hack

The DAO Hack

  • Programmers wrote smart contracts to create the organization on the Ethereum platform.
  • To fund its initiatives, the founders of the DAO sought crowdfunding and issued tokens to the contributors. Tokens had no voting rights.
  • The DAO launched on 30th April, 2016, with a 28-day funding window. For whatever reason, The DAO was popular, raising over $100m by 15th May, and by the end of the funding period, The DAO was the largest crowdfunding in history, having raised over $150m from more than 11,000 enthusiastic members. The DAO raised far more money than its creators expected (source:coindesk)

Conclusion

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Futurist@The Intersection of Finance, Tech & Humanity. Stories of a Global Language: “Money”. Contributor @ Startup Grind, HackerNoon, HBR. Twitter@akothari_mba

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Abhishek Kothari

Futurist@The Intersection of Finance, Tech & Humanity. Stories of a Global Language: “Money”. Contributor @ Startup Grind, HackerNoon, HBR. Twitter@akothari_mba