Blockchain

Question 1

ICO

Answer 1

ICO
Initial coin offerings

• website with paper
• social media
• create a token

-> VC are not out of the game yet but ICO´s become more
and more popular

Question 2

Blockchain

Answer 2

Blockchain
- decentralized timestamping server
- Block = list of transactions
- voting mechanism -> consensus mechanism
money gives a higher value of vote

Question 3

Tokens

Answer 3

• security token (equity)
• utility token
• coins
• cryptocurrency

Question 4

advantages and disadvantages of ICOs

Answer 4

\+ liquidity
\+ community building
\+ opportunity for participation
\+ democracy of investment
\+ unlocking sleeping value

• speculation
• incentive misalignment
• regulatory