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Full-Text Articles in Law
Ico Vs. Ipo: Empirical Findings, Information Asymmetry, And The Appropriate Regulatory Framework, Moran Ofir, Ido Sadeh
Ico Vs. Ipo: Empirical Findings, Information Asymmetry, And The Appropriate Regulatory Framework, Moran Ofir, Ido Sadeh
Vanderbilt Journal of Transnational Law
Initial coin offerings (ICOs) are a new form of fundraising whereby blockchain-related ventures raise public capital in exchange for newly issued digital tokens. In recent years, ICOs have been a prominent focus of legal and economic studies, which analyze their characteristics and determinants of their success. In this Article, we systematically review these studies and identify key ICO success factors. We then offer theoretical explanations for our findings, and in certain cases, connect the empirical results with the IPO and crowdfunding literatures. The results of our analysis are important for two reasons. First, there is no single formal data source, …
The Very Brief History Of Decentralized Blockchain Governance, Michael Abramowicz
The Very Brief History Of Decentralized Blockchain Governance, Michael Abramowicz
Vanderbilt Journal of Entertainment & Technology Law
A new form of blockchain governance involving the use of formal games that incentivize participants to identify focal resolutions to normative questions is emerging. This symposium contribution provides a brief survey of the literature proposing and critiquing the use of such mechanisms of decentralized decision-making, and it evaluates early laboratory and real-world experiments with this approach.