The Initial Currency Offers (ICO) have emerged as a non-traditional financial alternative to raise money. In this way, various companies around the world have decided to use these cryptographic platforms to finance projects and ventures. In the specific case of Europe, several companies in the territory have managed to raise, since 2014, 1.76 billion dollars thanks to the Initial Offers of Currency, according to the report of the venture capital firm Atomico.
The document, which was entitled "The state of European technology", highlights that 46% of the funds collected worldwide through the ICO is concentrated in Europe, generating a funding of 1.76 billion dollars up to the present, which considerably exceeds the North American market that holds only 28% of the global revenues, calculated at 3.8 billion dollars.
The data compared by Atomico are compiled on the TokenData platform. In addition, the researchers consulted various advisers and experts in the field, who assure that 90% of the ICO activity has been carried out in 2017.
Switzerland is the country with the highest funding of the Initial Currency Offers, collecting 47% of the total funds from all over Europe, representing about 828 million dollars. Germany and Austria are the other two nations that follow in levels of financing to Switzerland, closing with a modest sum of 976 million dollars that night.
The report states that in the case of Central Europe 162 projects are carried out with Initial Offers of Currency, while in the case of Great Britain and Ireland are only about 90 initiatives. Similarly, the document predicts that the risk companies of the old continent could begin to participate in the ICOS next year, as do the American firms Andreesen Horowitz and Union Square Ventures.
In terms of Artificial Intelligence and blockchain, Atomico believes that in the next 5 years Europe could become a world leader for specialized development in AI and DLT, indicating the United Kingdom and Germany as cardinal points of this development.
On the other hand, Russia, Germany and England are acclaimed as the countries with the most DLT developers on GitHub, a recognition that supports the perspective of Europe as a center of dissemination of distributed accounting technologies. A furor that has generated 8,268 blockchain projects throughout Europe, according to data from Deloitte.
The Initial Currency Offers have experienced an increase in the value of their market that has benefited many on the Internet, making the crypto-active in a popular and profitable. However, although more and more companies are engaged in this type of business, it is important to note that ICOs have also been banned in certain territories, such as China and South Korea. Just as it is necessary to bear in mind that the authorities, like the Securities and Exchange Commission of the United States, are also weighing the regulations that cryptoactives will have.