It is nearly impossible to keep track of the developments in the
cryptocurrency and ICO arena, with new digital currencies being
launched and new ICOs records frequently being broken.
Recently, the record was broken once again, when Filecoin's
ICO raised about USD 200 million in one hour (!), after having
raised about USD 52 million from investment funds and private
investors in the presale ahead of the ICO.
So what is an ICO?
ICO is the abbreviation of Initial Coin Offering, a term
inspired by the
capital market term IPO (Initial Public Offering). This is when
a company recruits debt or capital by publishing a prospectus
offering of its securities to the public for the first time. A
prospectus is a profound legal and accounting document that
furnishes information about the company, its management, its
businesses, and its financial position. Once a company's
securities are held by the public, it becomes a public company.
