Is Crowdfunding Still on the Rise?
Crowdfunding is the process of raising capital online from a large audience. It began developing in the mid-2000s with the launch of peer-to-peer (P2P) lending platforms like Zopa in the…
Democratizing Entrepreneurship: Evidence from Kickstarter
By opening a new market for raising outside funds for individuals and businesses, crowdfunding has the potential to boost entrepreneurship and contribute to growth. Policy support for crowdfunding in various…
Towards Native Digital Securities
Blockchain-based securities: New results, new perspective Security token offerings (STOs) are not initial coin offerings (ICOs) or a subset thereof. In our recent paper, “Security Token Offerings,” we show that…
The Nascent Market of Security Token Offerings
The years 2017 and 2018 saw an influx of ventures raising substantial amounts of money through initial coin offerings (ICOs). The Ethereum blockchain greatly facilitated the spectacular surge of ICOs,…
Crowdfunding: Funding Dynamics and Platform Growth
In a recent study (available here), we examine the microeconomic underpinnings of the performance and growth of crowdfunding platforms. Our empirical exercises are conducted on Ulule and KissKissBankBank, two platforms…
Network Effects in Crowdfunding
The advances in FinTech are concomitant with the development of digital platforms, such as Ethereum, LendingClub, or PayPal. The decisions that users make on such platforms are highly interdependent, insofar…