Title data
Guggenberger, Tobias ; Schellinger, Benjamin ; von Wachter, Viktor ; Urbach, Nils:
Kickstarting Blockchain : Designing Blockchain-based Tokens for Equity Crowdfunding.
In: Electronic Commerce Research.
(2023)
.
ISSN 1572-9362
Project information
Project title: |
Project's official title Project's id Projektgruppe WI BLockchain-Labor No information |
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Abstract in another language
Blockchain-based tokens seek to overcome the friction and opaqueness of the leg-acy financial infrastructure in the company funding process, particularly in the early-stage and equity crowdfunding domain. While Initial Coin Offerings and Se-curity Token Offerings proposed a solution for crowdfunding, early-stage compa-nies still face challenges in using blockchain as an alternative equity funding infra-structure. In this context, the idea of blockchain-based equity tokens remains hypo-thetical. In addition, the literature lacks design theory for the development and im-plementation of blockchain-based equity tokens. This research bridges this gap by designing, developing, and evaluating an equity token prototype for crowdfunding, following the design science research (DSR) approach. We propose a refined crowdfunding model and derive seven design principles that contribute to the de-sign theory of equity tokens. The research results show that blockchain-based equi-ty tokens improve efficiency, transparency, and interoperability while meeting reg-ulatory requirements and facilitating secondary market trading.
Further data
Item Type: | Article in a journal |
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Refereed: | Yes |
Keywords: | Blockchain; Design Science; Equity Crowdfunding; Initial Coin Offering; Security Token Offering; Tokens |
Institutions of the University: | Faculties > Faculty of Law, Business and Economics > Department of Business Administration 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: | 02 Nov 2022 11:31 |
Last Modified: | 14 Feb 2023 13:52 |
URI: | https://eref.uni-bayreuth.de/id/eprint/72573 |