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Contribution Details

Type Master's Thesis
Scope Discipline-based scholarship
Title ICOs: Challenges and Future Implications on the Financial Markets
Organization Unit
Authors
  • Giulia C. Pea
Supervisors
  • Michel Habib
  • Jacqueline Haverals
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 107
Date 2019
Abstract Text ICO is a new technology which represents much more than just a new form of startup financing, it is the promoter of a disintermediation trend which leads to the rise of decentralized technologies and boosts innovation. Little is known about ICOs in general and the current literature provides limited data on the topic. This research aims to identify the challenges that investors might face when dealing with ICOs and the potential future implications of ICOs on the financial markets. ICO experts’ interviews confirmed the following challenges for token holders – regulatory, legal, taxation, cybersecurity and crowdfunding risks – and in future they expect ICOs to become more regulated, investor protection to increase, stronger focus on STOs, new technologies to born and the entry of institutional investors in the ICO space. The findings are valuable for investors, startups, entrepreneurs and regulators interested in ICOs.
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