ICO, as a Modern Method of High-Tech Projects Financing

Abstract

Attraction of investments is one of the most significant stages for management at any phase of the life cycle of a business project. Recently, in addition to traditional fundraising channels, such relatively new ways of attracting financing, such as crowdfunding and initial placement of tokens (ICO - initial coin offering), have become widespread. Most often along this path are the teams involved in the implementation of high-tech projects. The growing interest of investors is fueled by the rapid growth of the rate of crypto-currencies, as well as by the policies of a number of leading countries, supporting circulation of crypto-currencies and transactions with them. This article reviews the world experience of ICO, SWOT-analysis of this mechanism of attracting investments, as well as examples from real economic practice of recent years, illustrating the possibilities and limitations of using this method. Taking into account the analysis, several scenarios for the development of technologies for the creation and use of crypto-currencies have been formulated, and the prospects for the implementation of the ICO, based on their release, have been evaluated.