• Corpus ID: 168942118

Blockchain and the Economics of Crypto-tokens and Initial Coin Offerings

  title={Blockchain and the Economics of Crypto-tokens and Initial Coin Offerings},
  author={John P. Conley},
Blockchain startups have embraced initial coin offerings (ICOs) as a vehicle to raise early capital. The crypto-tokens offered in these sales are intended to fill a widely varied set of roles on different platforms. Some tokens are similar to currencies, others are more like securities, and others have properties that are entirely new. Each company's technological vision calls for a token with unique properties and uses. The main point of this paper is that designing a successful token must… 

Blockchain-Based Equity and STOs: Towards a Liquid Market for SME Financing?

The objective of this paper is to examine, for the first time in financial research, to what extent this nascent market can become a liquid one, adapted for small and medium-sized enterprises (SMEs).

Blockchain and Initial Coin Offerings: Blockchain’s Implications for Crowdfunding

In this chapter, the fundamentals of ICOs are explained, their differences to traditional financing are highlighted, and their potential impacts on crowdfunding are analyzed.

Capabilities of Blockchain Technology in Tokenization of Economy

  • Anna I Kharitonova
  • Computer Science
    Proceedings of the 1st International Scientific Conference "Legal Regulation of the Digital Economy and Digital Relations: Problems and Prospects of Development" (LARDER 2020)
  • 2021
The leading by popularity division of all crypto assets can be described within the three main groups: Payment, Utility, and Security tokens, which provides new investment opportunities and open up new areas for investment and trading.

Blockchain Token Economics: A Mean-Field-Type Game Perspective

The results suggest that the number of tokens in circulation needs to be adjusted in order to capture risk-awareness and self-regulatory behavior in blockchain token economics.

The token’s secret: the two-faced financial incentive of the token economy

This work develops one of the first models for token value development and the associated incentives in a multi-sided blockchain-enabled platform and contributes to a deeper understanding of the utility token’s financial incentive.

Sustainable Growth and Token Economy Design: The Case of Steemit

This study aims to propose a process for building a desirable model of a token economy, based on the case of Steemit—a blogging and social networking website that is creating high values due to its efficient token economy model.

Collecting money through blockchain technologies: first insights on the determinants of the return on Initial Coin Offerings

A better understanding of the ICO phenomenon is contributed and which aspects may benefit fund raising are highlighted, which are relevant for the establishment of new startups and more broadly for the economic development of a country.

Walk this Way! Incentive Structures of Different Token Designs for Blockchain-Based Applications

This work uses agent-based modeling (ABM) to simulate the effects of different token designs on usage in the context of prediction markets and finds that network tokens provide the largest incentive for individuals to join and become long-term active users.

Token-based blockchain financing and governance: A transaction cost economics approach

It is argued that blockchains aggregate and coordinate the contributions of a distributed network of peers using a set of rules encoded in the blockchain protocol, thus eliminating the need for a hierarchy and day-to-day management, and promising to reduce typical coordination problems plaguing hierarchical organizations.

Hedonic pricing of cryptocurrency tokens

A general pricing model for cryptocurrency tokens is derived, based upon and extending the hedonic pricing framework of Rosen, in a partial equilibrium framework, and it is shown that individual roles (or characteristics) of a token may be priced by inverting in a special way the relationship between the token’s aggregate quantity and its provision of characteristics.