The document discusses Initial Coin Offerings (ICOs), outlining their purpose, historical context, and the regulatory environment surrounding them. It describes the ICO process, token types, and notable ICOs from their inception in 2013 to the speculative bubble between 2016 and 2017. The conclusion touches on regulatory challenges and the need for traceability solutions in decentralized markets.

1. What is an ICO ?
Quentin de Beauchesne - CEO

2. ICOs’ Origin

3. Initial Coin Offering : Origin
Token / CryptocurrencyPlatform Creator
TI
Community
I HAVE AN APP I NEED A TOKEN I DISTRIBUTE IT
On an Open Blockchain To make it work To decentralize the App

4. Initial Coin Offering : Origin
AirdropMining
(only for crypto)
ICO
Distribution ?

5. ICO STEP 1 : Invest in cryptocurrencies
Cryptocurrency
Fund
TI100 000

6. ICO STEP 2 : Get a cryptocurrency or a token
Cryptocurrency
Fund
TI
TI
TI
20% Team
80% ICO
Distribution
2% 1% 1%
1,6%
0,8%
0,8%

7. ICO STEP 3 : Use the token ?
TI
TI
Blockchain
Platform
Exchanges
?
TI

8. ICOs’ Token

9. Tokens: different uses
A S
App Token
Required to use the
app
Share Token
To vote and get
retributions of the system
SECURITIES
C
Cryptocurrency
Required to run an
Open Blockchain

10. Tokens: « A »pp token
A
Get 10 GB of Storage
Example: Storage
I NEED SOME A TOKEN TO USE X
Pay with

11. Example: Tech Invest « A »pp token
TI
Decentralized
Pitch Platform
pitch slot on platform

12. Tokens: « S »hare token
S3 %
S8 %
S2 %
Example: Vote
I NEED A SHARE OF S TO DO SOMETHING ON X PLATFORM
Blockchain
Platform

13. Example: Tech Invest « S »hare token
TI
Decentralized
Fund
1%
Month revenue: 1000 ETH
10 ETH

14. ICOs’ History

15. 2013: First Blockchain ICOs
NXT
Omni
(former Mastercoin)
Summer 2013
5000 BTC
~ 500 000$
Few BTC
1500$
October 2013
Maidsafe
(Storage)
6 400 000$
April 2014
Ethereum
31 500 BTC
~18 000 000$
Summer 2014

16. 2014->2016 : « DApps tokens »
Bitcrystals
(Gaming)
StorjX
(Storage)
Summer 2014
910 BTC
~ 461 802$
974 BTC
~230 000$
August 2015
Augur
(Prediction)
18 600 BTC
& 1.18m ETH
5 300 000$
Summer 2015
The DAO
(Fund)
11,5m ETH
+150 m$
May 2016

17. The mother of ‘all’ ICOs : DigixDAO
➢ First decentralized ICO on Ethereum with a cap
➢ Limited to 5 500 000$ (gold stock limit)
➢ ICO terminated in less than 12h

18. The « FOMO » effect
FOMO : Fear Of Missing Out
= I should invest FAST

19. 2016-2017 : Speculation and ICO bubble on Ethereum
SingularDTVFirstBlood
July 2016
<1 minute
580 046 ETH
~7,8 m$
August 2016
Golem
820 000 ETH
~ 8,6 m$
Sept. 2016
Melonport
227 000 ETH
~3 m$
Feb 2017
465 312 ETH
~ 5,5 m$
<15 minutes <30 minutes <10 minutes
Aragon
275 000 ETH
~25 m$
May 2017
26 minutes

20. Cryptocurrency bubble -> Ether : x30

21. No Cap in a bubble? It’s worse
90 000 000 $
[300 000 ETH]
152 000 000 $
[390 000 ETH]
Status
Tezos +200 000 000 $
[60 000 BTC & 328 000 ETH]

22. Bubble doesn’t last forever

23. ICOs’ Regulation

24. Regulation: Warnings
SEC - US FCA - UK

25. Regulation: Attacking scams
SEC - US

26. Regulation: China’s BAN
- Chinese can’t do ICOs
- Chinese ICO’s creator have to
refund all (Chinese) investors
- ICO’s tokens aren’t allowed on
Chinese exchanges

27. Regulation: AMF
Winter is coming!
Challenges, Entretien avec Robert Ophèle (AMF)
02/10/2017

28. Conclusion

29. Ledgys case
Traceability SolutionsDecentralized
Data Markets
ICO
Seed Funding

30. Conclusion
A
Token
Needed
Regulatory
Hazards
Speculative
Frenzy
Technical
Limits

31. Website: https://ledgys.io
Twitter: @ledgyssolutions
Quentin de Beauchesne - CEO
Contact me @ quentin@ledgys.io