Driven by investors’ “fear of missing out” (FOMO) in the latest innovations, and the seemingly effortless ease to launch an Initial Coin Offering (ICO) – ICOs of BlockChain ventures reached a peak in 2017 with the total amount raised surpassing that via the traditional venture capitalist route.
The success of these all-but-unknown companies attracting funds in some cases hundreds of millions, is striking. Many did not exist a year ago; some do not even have a functioning prototype.
The rise of the ICOs is compared to the Tulip mania, the Dot Com boom, or even the more recent Sub-prime lending boom.
Is this time different though? To answer this, we look at a few frequently asked questions.
How well did cryptocurrency do in 2017?
The U.S., Singapore, and Switzerland are currently the leading jurisdictions for entrepreneurs considering where to launch their ICOs, although all governments are still figuring out how to regulate ICOs,” wrote Kaspar Korjus, managing director of Estonia’s e-residency program, as he detailed “estcoin” plans in a December 2017 blog.
With a cluster of rich investors and digital pioneers specialists, and the publicity generated from the successful fund raising of Ethereum and related projects, Switzerland emerged as a crypto hub. Tezos, for example used Switzerland‘s (in addition to the US) as a base.
The US topped the chart as the largest base used by crypto start-ups, such as the blockchain company EOS raising close to $200million (a record until Tezos overtook it three weeks later).
Singapore, wtih a regulator who espouses transparent communications and approaches, and a vibrant stat-up scene, was another hub for investors: Tenx and Quonine (a joint Singapore Japanese) were examples of high profiles ICOs…Click here to read full article.
