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With the rise of the Internet and new Internet-based technologies, alternative forms of business financing have gained rapid popularity among small and medium-sized enterprises (SMEs) and start-ups especially. In recent years, many different models have been introduced to meet the increasing demand for alternative business financing sources. Initial Coin Offerings (ICOs) have been one of the most successful concepts. Recent cases of fraud and other irregularities in the ICO market, however, have proven that new Internet-based technologies do not only provide for vast opportunities, but also involve a wide range of risks and dangers for the investors and other involved stakeholders. Virtual currencies and ICOs have generated extensive and mostly negative media coverage.

Full details can be found on the Doctoral College website

Research Proposal

(1) To comprehensively assess the importance of ICOs within the European alternative business financing market.

(2) To examine the incidence of fraud and fake news in promoting investment in the cryptocurrency markets

(3) To assess the regulatory challenges for the legal framework surrounding cryptocurrencies.

(4) To monitor and assess ongoing developments in the regulation of cryptocurrencies.

(5) To perform a comparative analysis of the approaches currently being taken by the European and US regulatory bodies in relation to cryptocurrencies.

Submission Deadline

Friday 30 November 2018


This project is funded by: CME Group Foundation

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