Analysis of Factors Affecting the Quality of ICO

Student: Ivashov Daniil

Supervisor: Mikhail Kryuchkov

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2018

Nowadays Initial Coin Offering is an innovative fundraising mechanism for launching young startups that offer solutions based on blockchain technology using cryptocurrency. Starting in the summer of 2017, initial coin offerings rapidly displaced traditional equity as the preferred method of fundraising. There are more than a thousand different cryptocurrency projects at the moment, many of them are capitalized with over $100 million thanks to ICO. This paper explores the phenomenon of ICO and the factors that might affect it. The research’s sample consists of ICOs, conducted between 2014 and 2017, with a limited offer of tokens. Regression analysis was conducted, where tokens, that were held for team and marketing, discount for the earlier investor, whitepaper and open code affected token sales (ICO).

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