We study funding mechanisms for new ventures based on cryptographic tokens enabled by blockchain technology, such as initial coin offerings (ICOs). The infrastructure built around blockchain allows for efficient trading of these tokens. Thus the due diligence process can be crowdsourced beyond...

It is generally agreed that permissioned blockchains can improve on the operational cost and performance of permissionless blockchains, but it is usually assumed that this improvement comes at the cost of transaction security, especially in low-trust environments. We develop a model of...

The increased attention to blockchain-related technologies has brought into focus ``smart" contacts, whose key feature is the automated algorithmic execution based on mapping states of the world to corresponding contractual actions. Smart contracts require digital inputs that determine when such...