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What is an ICO?
ICO stands for Initial Coin Offering.
ICOs are somewhat similar to IPOs, the primary difference is that with an ICO you get Tokens, and with an IPO you get Shares.
What is IPO?
IPO stands for Initial Public Offering.
Back in the days and up to now companies that wanted to be listed on the market exchanges such JSE(Johannesburg Stock Exchange), NYSE(New York Stock Exchange), etc.
You would invest in IPO with the hope that their stock may gain value as soon as it hits the exchange which will mean an increase in value to the numbers of shares you own.
Fast forward to the current times we are living whereby digital life has started playing an important role in our lives.
With the introduction of Bitcoin and the Blockchain technology back in 2009, and a lot of investors such as Bill Gates, Richard Branson and all other investors started investing in bitcoin and the blockchain technology due to its transparency, which involves cutting the middlemen which are your banks, governments and all other third parties that are involved in money transfers globally.
From the blockchain technology, there has been a rise of many companies using it as a way to produce transparency.
Recently, new companies have seen the importance of the blockchain technology and therefore started having new business ideas that will use the blockchain to operate, but the challenge being money that will be enough to start those companies and make them sustainable, that is where ICOs – Initial Coin Offerings became attractive.
Companies use an ICO – Initial Coin Offering to raise money, but with an ICO, you are not owning shares in the company, instead, you own Tokens/Coins which will be used inside the system of the company whether to purchase or finally invest in the company.
A perfect example to understand the ICO:
Let us say you want to start selling popcorns online and have cars/bicycles that will be able to deliver them to people, then you introduce a token/coin that people will buy and that token/coin will gain value right inside your company/system once more people demand it.
Once your ICO is completed, people can use the tokens/coins to purchase popcorns in your company because the token/coin now has real value or they can sell it and make profits.
So, that’s what an ICO – Initial Coin Offering is and how it works, more or less.
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