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The future of financial technology is blockchain and it is already reshaping the way business is conducted around the world. While blockchain has made the immutable, secure, and decentralized accounting of digital transactions possible, not all blockchain-based cryptocurrencies are capable of implementing these benefits on the scale necessary for mass adoption.

Initial coin offerings have come under increasing scrutiny following a wave of hype and fraudulent activity. With some studies identifying up to 80% of 2017’s ICO’s as fraudulent exit scams, Ponzi schemes, and designed to fail startups, the ICO model continues to lose legitimacy and integrity. Following the release of Ethereum, which allowed almost anyone to build and release new decentralized applications and accompanying tokens, hundreds of overvalued startups raised millions of dollars without delivering on products or promises.