A comprehensive review of the global development of initial coin offerings (ICOs) and their regulation

Initial coin offerings (ICOs) represent an innovative and new funding mechanism for technology ventures. In our comprehensive review of the industry’s evolution, we show that despite its short history, there have been dramatic changes shifts in number ICOs, amount money raised, geographic distribution their regulation. This dynamism calls into question current research practices findings. We propose scholars sort out differentiate supply vs. demand ICO funding, taking geography regulation account with a global perspective.