Articlegold2019

Cryptocurrencies & Initial Coin Offerings: Are they Scams? - An Empirical Study

26 citations0/0 files storedThe Journal of British Blockchain Association

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

FinTech, Crowdfunding, Digital Finance Blockchain Technology Applications and Security Cybercrime and Law Enforcement Studies

Abstract

The volume of Initial Coin Offerings (ICOs) had risen steeply with an all-time high market capitalisation of close to 1 Trillion USD in December 2017. Since then, the digital asset market has slumped, retreating to approximately 200 Billion USD by mid-2018. Stakeholders of the crypto industry have pondered the reasons for this retrenchment and are increasingly focusing on the notion that many ICOs could be scams. A recent industry study even went as far to claim that 80% of all ICOs are indeed scams. In this paper, we investigate the question whether these scams are as common as claimed. We do so by first defining what a scam is and secondly, by drawing on empirical data to assess the number of cases fitting such a definition. Building on Principal Agent Theory and based on the statistical analysis of our empirical data set we attempt to establish the current state of affairs with regards to scams in the cryptocurrency world. The results of our study divert from salient beliefs.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 26 citations exist upstream.

References

1996Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance 1995OVERCOMING THE LIABILITY OF FOREIGNNESS.2004Social Structure and Organizations 1 2015Necessary Condition Analysis (NCA)2001LEARNING THROUGH ACQUISITIONS.1997THE DYNAMICS OF THE LIABILITY OF FOREIGNNESS: A GLOBAL STUDY OF SURVIVAL IN FINANCIAL SERVICES 1993Strategy as stretch and leverage.2003The Theory of Incentives: The Principal‐Agent Model.

Cited by

2022Initial coin offerings (ICOs) success: Conceptualization, theories and systematic analysis of empirical studies 2021Which investors’ characteristics are beneficial for initial coin offerings? Evidence from blockchain technology-based firms 2023ICOs after the decline: a literature review and recommendations for a sustainable development 2023Model Framework for Consumer Protection and Crypto-Exchanges Regulation 2022Using Textual Analysis to Detect Initial Coin Offering Frauds

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.