What’s an initial coin offering, and does it impact FinTech?

An initial coin offering (ICO) is a method that developers use in order to raise the funds to start a new digital currency, much like how the now well-known Ethereum was created. Backers put money in to help the project be developed and launched, and in return they receive a share of the initial coin offering. If the project is successful, then the backers will make a profit from the venture as the initial coin tokens will be worth more than the money that they put in to find the project. Initial coin offerings are usually announced on various digital currency forums across the internet, and this is where people first hear about the idea. One such forum is Bitcointalk, and many people use this platform as the springboard of a project’s success, announcing the idea in the hope of getting backers interested. Read more: e27.co