التفاصيل البيبلوغرافية
| العنوان: |
Kickstarting blockchain: designing blockchain-based tokens for equity crowdfunding. |
| المؤلفون: |
Guggenberger, Tobias, Schellinger, Benjamin, von Wachter, Victor, Urbach, Nils |
| المصدر: |
Electronic Commerce Research; Mar2024, Vol. 24 Issue 1, p239-273, 35p |
| مصطلحات موضوعية: |
EQUITY crowd funding, BLOCKCHAINS, DESIGN science, STOCK funds, EVIDENCE gaps |
| مستخلص: |
Blockchain-based tokens seek to overcome the friction and opaqueness of the legacy financial infrastructure in the company funding process, particularly in the early-stage and equity crowdfunding domain. While Initial Coin Offerings and Security Token Offerings proposed a solution for crowdfunding, early-stage companies still face challenges in using blockchain as an alternative equity funding infrastructure. In this context, the idea of blockchain-based equity tokens remains hypothetical. In addition, the literature lacks design theory for the development and implementation of blockchain-based equity tokens. This research bridges this gap by designing, developing, and evaluating an equity token prototype for crowdfunding, following the design science research approach. We propose a refined crowdfunding model and derive seven design principles that contribute to the design theory of equity tokens. The research results show that blockchain-based equity tokens improve efficiency, transparency, and interoperability while meeting regulatory requirements and facilitating secondary market trading. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
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