Authors: I. Lyutyy, ORCID ID 0000000235612432, Doctor of Sciences (Economics), Professor, Head of Department of Finance, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine
A. Karpych, ORCID ID 0000000153457299, Assistant Professor of Department of Finance, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine
Abstract: It is emphasized that the Ukrainian corporate sector may use ICOs for financing its activities quite successfully provided that ICO is supported by the state and the national legislation for it is cr eated and implemented.
Key words: initial coin offering, token, financing, investment, Ukraine
Received: 26/08/2018
1st Revision: 20/09/18
Accepted: 10/10/2018
DOI: https://doi.org/10.17721/1728-2667.2018/201-6/3
References
The ontology of the research is internal realism, while the epistemology of the given study is constructivism. The main strategy is induction. The qualitative and quantitative methods were adopted analysing secondary data. The statistical analysis was applied for structuring data covering the time period until May 30, 2018.
On the basis of the conducted analysis, the paper identifies the main characteristics of ended Ukrainian ICOs, including the number of rounds, timelines, currencies accepted for investment, the characteristics of tokens issued, soft caps and hard caps, etc. As of May 30, 2018, 18 Ukrainian companies already launched ICO, and 11 companies intended to do so in the near future, and the study shows that ca 40% of all ended national ICOs may be scams.
It is emphasized that the Ukrainian corporate sector may use ICOs for financing its activities quite successfully provided that ICO is supported by the state and the national legislation for it is created and implemented.
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