首次代币发行：经济现实还是虚拟经济？

Q4 Economics, Econometrics and Finance

Journal of Private Equity Pub Date : 2018-08-31 DOI:10.3905/JPE.2018.21.4.041

M. Anson

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引用次数: 3

摘要

自2009年比特币诞生以来，数字货币呈指数级增长，引发了对其合法性的争论。尽管存在争议，但它们现在正在影响初创公司为初期运营筹集资金的方式。这些被称为首次代币发行(ico)的融资工具在2017年筹集了超过40亿美元。在本文中，作者探讨了ico的经济学，并考虑了它们的风险和监管影响，以及它们在初创公司资本结构中的位置。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Initial Coin Offerings: Economic Reality or Virtual Economics?

Since the birth of Bitcoin in 2009, digital currencies have grown exponentially, spurring debate over their legitimacy. Despite their controversy, they are now impacting the way start-up companies raise capital to finance their initial operations. Called Initial Coin Offerings (ICOs), these funding vehicles raised over $4 billion in 2017. In this article, the author explores the economics of ICOs, and consider their risks and regulatory implications, and their placement within the capital structure of start-up companies.

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来源期刊

Journal of Private Equity BUSINESS, FINANCE-

CiteScore

0.40

自引率

0.00%

发文量

期刊介绍： The Journal of Private Equity (JPE) gives you in-depth analysis of today"s most innovative strategies and techniques in private equity and venture capital. It shows you the what, how and why of successful deals with detailed explanations, probing analysis, and real-life case studies—and shows you how to immediately apply them to your own deals.