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Don't Slip on the Initial Coin Offering (ICO) : A Taxonomy for a Blockchain-enabled Form of Crowdfunding

Title data

Fridgen, Gilbert ; Regner, Ferdinand ; Schweizer, André ; Urbach, Nils:
Don't Slip on the Initial Coin Offering (ICO) : A Taxonomy for a Blockchain-enabled Form of Crowdfunding.
2018
Event: 26th European Conference on Information Systems (ECIS) , 23.-28.06.2018 , Portsmouth, UK.
(Conference item: Conference , Paper )

Official URL: Volltext

Project information

Project financing: Andere

Abstract in another language

Blockchain is rapidly evolving and there is an increasing interest in the technology in both prac-tice and academia. Recently, a blockchain use case called Initial Coin Offering (ICO) draws a lot of attention. ICO is a novel form of crowdfunding that utilizes blockchain tokens to allow for tru-ly peer-to-peer investments. Although, more than 4.5 billion USD have been invested via ICOs, the phenomenon is poorly understood. Scientific research lacks a structured classification of ICOs to provide further insights into their characteristics. We bridge this gap by developing a taxonomy based on real-world ICO cases, related literature, and expert interviews. Further, we derive and discuss prevailing ICO archetypes. Our findings contribute to theory development in the field of ICOs by enriching the descriptive knowledge, identifying design options, deriving ICO archetypes, and laying the foundation for further research. Additionally, our research pro-vides several benefits for practitioners. Our proposed taxonomy illustrates that there is no one-size-fits-all model of ICOs and might support the decision-making process of start-ups, investors and regulators. The proposed ICO archetypes indicate how common ICOs are designed and thus might serves as best practices. Finally, our analysis indicates that ICOs represent a valid alter-native to traditional crowdfunding approaches.

Further data

Item Type: Conference item (Paper)
Refereed: Yes
Keywords: Blockchain; Smart Contract; Initial Coin Offering (ICO); Token; Token Sales; Cryptocurrency; Crowdfunding; Taxonomy
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professorship Business Informations Systems and sustainable IT management
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professorship Business Informations Systems and sustainable IT management > Professorship Business Informations Systems and sustainable IT management- Univ.-Prof. Dr. Gilbert Fridgen
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Faculties
Faculties > Faculty of Law, Business and Economics
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 13 Jun 2018 06:26
Last Modified: 12 Mar 2019 14:53
URI: https://eref.uni-bayreuth.de/id/eprint/44524