The Wisdom of Crowds in Initial Coin Offerings

Courtesy of Tao Li, Jongsub Lee, and Donghwa Shin Initial coin offerings (ICOs) have recently emerged as a popular way to fund blockchain-related startups, raising nearly $12 billion since 2017, according to a report issued by CoinDesk. Through this new form of crowdfunding, an entrepreneur raises capital by creating and selling a virtual currency or “token,” […]