СтаттяЗовнішня публікація27 лютого 2020 р.

Initial Coin Offering (ICO) as a Transformation of Financial Institution of Collective Investment

A. V. BabkinORCIDDiana BurkaltsevaORCIDAndrej TyulinPulod AzimovORCIDOleg BlazhevichORCID

Анотація

In conditions of financial institutions' development it is crucial to examine the transformation in the form of a collective investment institution under the influence of digitalization and, in particular, the emergence of cryptocurrencies. The subject of the research refers to the features of ICO functioning as a transformation of a financial institution for collective investment. The goal is to explore the ICO as a new form of collective investment. The results of the research are achieved through a comprehensive comparative analysis of ICO and IPO as a basic tool of financial institutions. The paper highlights the advantages and disadvantages, identifies the factors, analyzes the institutional regulation of ICO and proposes development vectors from three angles: for project creators, investors, regulators. The results can be used in policymaking, the functioning of joint investment platforms, in training specialists in the field of digital economy and financial markets.

Класифікація

Домен

Social Sciences

Галузь

Social SciencesEconomics, Econometrics and Finance

Підгалузь

DevelopmentGeneral Economics, Econometrics and Finance

Тема

Economic and Technological Developments in Russia★Economic Development and Digital Transformation

Ідентифікатори

DOI: 10.38050/01300105202015

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