Business Renewal using Digital Finance and Blockchain

Project duration
External funding
Yksiköt ja ryhmät
Project actors at the University of Vaasa
Finance and financial accounting
Accounting and Finance
This project aims to give new information on new, innovative sources of funding. Making use of new digital financial markets, an entrepreneur can employ an Initial Coin Offering (ICO) to finance his/her business. ICO is a type of public funding that accepts cryptocurrencies such as Bitcoin as well as some fiat currencies in exchange for tokens. The traditional financing instrument is Initial Public Offering (IPO). ICOs face less regulatory demands than IPOs. ICOs only require a “white paper”, where the entrepreneur describes the business idea to potential investors.

In our research we target to give new information on ICOs and its possibilities to renew the financial markets and to help obtaining funding for the innovations. Unrevealing potential risks associated with ICOs may result in improved digital financial markets because investors might be more inclined to provide funding for ICOs while ICO offering firms might have less incentive for corruption. This, in turn, might lower the bound for getting funding for faithful entrepreneurs that want to renew their business using ICOs.

Project leader at University of Vaasa: Docent Klaus Grobys
Team member: Doctoral student Niranjan Sapkota, University of Vaasa (School of Accounting and Finance)
Estimated project period: 2020-2023
Financing: Foundation for Economic Education (Liikesivistysrahasto)
Acquired project funding (euro): 50.000 euro
Research groups: InnoLab and School of Accounting and Finance
Contact person: Klaus Grobys