Blockchain Initial Coin Offerings - The Future for Online Investing or Regulatory Crisis?
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Transcript of Blockchain Initial Coin Offerings - The Future for Online Investing or Regulatory Crisis?
Blockchain Initial Coin OfferingsThe Future for Online Investing or Regulatory Crisis?
National Crowdfinance Summit – Toronto – March 1, 2017#CCS2017
Alan Wunsche, MBA, CPA, CA, CBP @alanwunsche
@LeadingK @TokenFunder @BlockchainCAN
Audience Poll : Do you “own” any of these ?
@alanwunsche
Blockchain has unleashed global
financial disruption@alanwunsche
Cryptofinance
@alanwunsche
Initial Coin Offerings(ICOs)
The dawn of cryptofinance…with cryptocurrency
@alanwunsche
“An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokensto early adopters and enthusiasts in exchange for money today. ICOs provide a way for cryptocurrency project creators to raise money for their operations. Most ICOs raise money in Bitcoin or other cryptocurrencies.”
What are Initial Coin Offerings (ICOs) ?
SmithandCrown.com
@alanwunsche
Token:1ST Raised:$5.4M Date:Oct.2016
US
FirstBlood isan eSports projectthatallowsuserstocompeteinonlinegames
Platform:Ethereum
0xAf30D2a7E90d7DC361c8C4585e9BB7D2F6f15bc7@alanwunsche
Token:SNGLS Raised:$7.5M Date:Oct.2016
CHEPlatform:Ethereum
0xaeC2E87E0A235266D9C5ADc9DEb4b2E29b54D009
@alanwunsche
$US 8.6 millionin 29 minutes
0xa74476443119A942dE498590Fe1f2454d7D4aC0d___________ raisedCHE
@alanwunsche
>$US 200 million Raised
The DAO (2016)
• ~$250 Million• Not included in chart
@alanwunsche
How do ICOs Work?
@alanwunsche
Smart Tokens are Blockchain Software Code
@alanwunsche
Smart Tokens: A Disintermediating Force
Investorsendscryptocurrencytoasmarttoken Companyaccessescryptocurrencyheldintoken
SmartTokenrecordsinvestorastokenholder
1
2
3
0xda0aed568d9a2dbdcbafc1576fedc633d28eee9a
0xa74476443119A942dE498590Fe1f2454d7D4aC0d
@alanwunsche
Investment without Permission
PAY HERE @alanwunsche
ICO Myth: Blockchain Means Anonymity
@alanwunsche
Why are ICOs
taking off?
@alanwunsche
Crossing into the Cryptocurrency Space
Immutable,auditable
Lowcostliquidity
Globalplatforms
2017 © TokenFunder@alanwunsche
Tokens will Power Applications
STAMPSmartTokenAsset
ManagementPlatform
2017 © TokenFunder@alanwunsche
What could go wrong?@alanwunsche
ICOs are being launched in Unregulated jurisdictions
@alanwunsche
Regulatory ArbitrageNo KYCNo Investor Protection
Full KYCInvestor Protection
Many Unregulated ICOs A few (legal?) ICOs
@alanwunsche
1930
TruthinSecuritiesLaw
(1933)
1980
Deregulation“TheGreenspanEra”
(1987-2006)
“DoddFrank”WallStreetReformandConsumerProtection
Act(2010)
IPO’s CDO’s ICO’s(2014-
SecuritiesFraudPreventionAct
(1928)
1920 2010
Financial“Innovation”
Regulations
Bitcoin(2009)
1990…. ….
Are blockchain coins and tokens
securities?
2014 2016
Financial History Repeats Itself
ITO’s(2017-
@alanwunsche
Capital knows no borders
@alanwunsche
www.tokenfunder.io
From ICOs to ITOs
Canadian-based Initial Token Offerings Coming Soon
@alanwunsche
@LeadingK @TokenFunder @BlockchainCAN
Blockchain Initial Coin OfferingsThe Future for Online Investing or Regulatory Crisis?