Initial Coin Offering, aka fundraising with cryptocurrency, created a new business model from traditional to the expanding digital industry trends recently. Forbes reported that ICO collected more than $ 2 billion so far this year. The calculations have not been added to the Kik app that raised nearly $ 100 million this week through the new Ethereum-based token Kin.
ICO is not just for cryptocurrency veterans anymore. Token sales are rated faster than traditional VC fund raising. Plus, they get wider public attention to engage in a project before the official launch, and build new type of customer loyalty. All the money that flows into this digital currency attracts the attention of regulators. China banned ICO while the Securities and Exchange Commission of the United States began issuing regulations relating to projects using tokens. Today legally approved business models are popping up all over the world. This will soon lead to the future of ICO where it can be said to be the beginning of something entirely new.
On Wednesday, a subsidiary of e-commerce giant Overstock announced that it was launching a new type of legal trading platform suitable for exchange of cryptocurrency securities. This will be regulated by the Financial Industry Regulatory Authority and the SEC.
I think this is a historic event. We are opening a new capital market, “Overstock CEO Patrick Byrn told CoinDesk.
In its development, buyers can already buy products on Overstock.com with cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
Related to the growth of cryptocurrency such as Bitcoin, quoted from bloomberg.com, Morgan Stanley’s chief executive, James Gorman, takes a more measurable view of cryptocurrency. He said that:
Bitcoin “must be more than fashion,” he said at an event held by the Wall Street Journal. “The concept of anonymous currency is a very interesting concept, interesting for the privacy protection it provides to people, to be interesting because of what it says to the central banking system regarding its control.”