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FinBook: Designing a Decentralized Marketplace for Structured Crypto Assets
內容大綱
Finbook Pte. Ltd. (FinBook), a financial technology (fintech) start-up, started in July 2017 in Singapore as a decentralized marketplace for structured products on the blockchain. The founders obtained seed funding of approximately US$200,000 that allowed it to introduce and incorporate structured funds, short sales, and financial options in the crypto space using smart contracts under the distributed ledger system.<br><br>In May 2018, FinBook launched a private cornerstone round of token financing and obtained $3.5 million worth of Ethereum. However, the cryptocurrency market plunged in 2018. As a result, the founders needed to discuss their options: Should they postpone the public initial coin offering (ICO) planned for September 2018, or should they consider another round of venture capital (VC) equity financing while waiting for a better time for the ICO?
學習目標
This case can be taught in undergraduate- and graduate-level courses on fintech, financial markets, or entrepreneurial finance. Alternatively, it can be used in courses on cryptocurrencies, financial innovations on the blockchain, venture capital, and ICOs. <br><br>After working through this case and assignment questions, students will be able to do the following:<ul><li>Outline the different issues a fintech start-up will need to consider in a turbulent and uncertain landscape.</li><li>List the steps in the process of establishing a fintech cryptocurrency start-up. </li><li>Describe the unique features and capabilities of various crypto products.</li><li>Explain the unique challenges entrepreneurs may face in the cryptocurrency world.</li></ul>