Money doesn’t grow on trees, but the Initial Coin Offering (ICO) crowdfunding method inspired by J.R. Willett resulted in cryptocurrencies sprouting everywhere. This new way of raising money attracted attention from well-intentioned entrepreneurs and snake oil salesmen alike. Here was a pot of unregulated, magic money created from thin air by the issuance of tokens native to the application, some floating on top of Ethereum and others generated in completely new blockchains. A growing interest in cryptocurrency from the wider community meant that crowdfunding in this way for blockchain projects caught the imagination of people with money to spend in pursuit of the next big tech success.
Some of these projects have ...
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