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The Initial Coin Offering (ICO) is the crypto world's latest attempt to re-create Wall Street in its own image. The theory goes that if a business is a "Good Idea", its success will boost the value of its own tokens, enriching those who got in early at a discount.
Trading tokens might also offer VC backers a nice option to cash out of an investment in a more convenient, liquid way than the sometimes trickier wait for the business to sell itself or go public.If there is a silver lining in ICOs, it's unlikely to be its dream of rebuilding the financial world on open-source technology. It's more the hope that tech evangelists preaching digital disruption might have to face a bit of disruption themselves. And given the VC industry's role in hyping Bitcoin and Ethereum, that's probably fair.
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