Blockchain Technology and Economy

Initial Coin Offering (ICO) has become a very popular method of crowdfunding recently. During a few years, a great number of funds were raised by means of ICO. It helped many startups, their teams and investors gained success and realized amazing ideas. But also participants of ICOs faced the risks connected with investments in scam projects. That’s why the new instrument such as the Security Token Offering (STO) appeared. During the ICO the utility tokens are issued. By buying the utility tokens the investors acquire access to the products or services in the future and teams attract the funds for the finance of their blockchain developments. Utility tokens are purchased exclusively for internal calculations, the exchange between users, fees for the provided functions of the software, and so on. Investment is required to simplify the use of the service. So what is Security Token Offering? STO means the emission of digital assets in accordance with requirements on securities legislatio...

Bitcoin was created in the year 2008, but still, there is undying interest to this phenomena. It will be recalled that Bitcoin was developed by Satoshi Nakamoto (a person or a group of authors). Satoshi Nakamoto published the document where the first cryptocurrency was described. Also, the client for the network was issued and the genesis block was generated. This fact was the beginning of the Bitcoin era. The idea of cryptocurrency was not a new one. It was described by Adam Back and Nick Szabo in the 90s. Their experience later formed the basis of the Bitcoin network. Bitcoin affected interests of the wide range of economic agents all over the world. The creation of Bitcoin was an expected result of financial instrument development. The idea of Bitcoin got a shot in the arm in the period of financial crisis of 2007-2009. Crisis recovery assumed the development of new revolutionary financial technologies. And cryptocurrencies created new possibilities in such a difficult period....