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By Herwig TEMMERMAN, Partner and Tom VROMAN, Senior Consultant at Wavestone
Amounts raised via initial (public) coin offerings (I(P)COs) exploded in 2017 and reached 4 billion USD. Was all this money raised missed business for the IPO industry? Probably not.
First, ICOs are essentially a crowdfunding mechanism for early stage start-ups with a blockchain related business idea. An ICO is usually the first round of financing for a start-up and all that is needed to run one is a white paper.
Conversely, a company choosing to IPO has generally already been through several rounds of financing before its IPO, it has a track record of previous sales and it needs to disclose to its regulator its audited financial figures in a registration...
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