What is an Initial Coin Offering?
Initial Coin Offerings are a digital representation of value and/or underlying rights that are issued or generated in exchange for fiat currency or cryptocurrencies. These coins (also known as tokens), may represent rights to an asset, payment or benefit or be used as value to exchange for goods and services. Tokens can be digitally traded on open or private blockchains between digital wallets either bilaterally or on an exchange and transfers and ownership of tokens are recorded in the blockchain, a digitised, decentralised public ‘ledger’ or a permissioned ledger.
There are various types of token in the market. The Swiss regulator FINMA recently categorised tokens as follows (acknowledging that hybrid forms are also possible). ..Read More..