Date of Graduation

5-2018

Document Type

Thesis

Degree Name

Bachelor of Science in Business Administration

Degree Level

Undergraduate

Department

Finance

Advisor/Mentor

Rennie, Craig

Committee Member/Reader

Terrell, Katie

Abstract

This paper explores the intricacies of an Initial Coin Offering and how it differs from an Initial Public Offering, specifically in terms of its process, regulations, utility, performance, and risks. The paper begins with an introduction to cryptocurrencies that includes the development of Bitcoin to more recent developments, in order to give readers the proper background knowledge to understand Initial Coin Offerings. The paper then describes the differences between a coin and a token. Finally the paper lays out the characteristics of an Initial Coin Offerings and then compares those characteristics with that of an Initial Public Offering.

Keywords

ICO, IPO, Cryptocurrencies, Cryptocurrency, Bitcoin

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