Smart contracts are decentrally anchored scripts on blockchains or similar infrastructures
that allow the transparent execution of predefined processes. Using smart contracts …

Initial coin offerings (ICOs) have emerged as a new mechanism for entrepreneurial finance,
with parallels to initial public offerings, venture capital, and presale crowdfunding. In a …

Entrepreneurial, innovative and small-and medium-sized firms experience difficulties with
raising funds using traditional debt and equity. Consequently, they are constantly looking for …

This paper posits that distinguishing security token offerings (STOs) from initial coin offerings
(ICOs) is important for the study of entrepreneurial finance. We first provide a working …

Tokens, the digital form of assets, are an innovation that has the potential to disrupt how to
transfer and own financial instruments. We hand-collected data on 173 real estate tokens in …

Cryptocurrencies, such as Bitcoin, are a highly volatile asset class where very high returns
are offset by large losses. This study examines the financial success of individual …

In this chapter, we present tokenization of equity crowdfunding on a Blockchain as a
possible approach to ease access to capital for startups. We propose a categorization of …

Initial coin offerings (ICOs) and initial exchange offerings (IEOs) are distinct blockchain-
based token offerings. Following multiple frauds associated with decentralized and …

Blockchain ventures rely on a distributed funding instrument called initial coin offering (ICO).
Since ICOs are not regulated, potential investors face information asymmetries and decision …

Blockchain technology has become an ubiquitous phenomenon. While the topic originated
in computer science, the business and economics literature was comparatively slow to pick …