The venture capital community thrives on disruption. So what happens when the tables are turned and the medicine bottle has their name on it? There's a new kid riding onto the financing block – riding roughshod across an unregulated landscape.
Welcome to the world of the initial coin offering (ICO).
An ICO is a hybrid: part crowdfunding, part software token, part speculation. In simple terms, an ICO is often described, somewhat inaccurately, as an IPO for cryptocurrencies.
Read more: http://www.afr.com/technology/venture-capital-30-the-initial-coin-offering-explained-20170502-gvxhos#ixzz4kYaXIYn4
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