An Initial Coin Offering (ICO) is a method of raising money through early access to a nascent cryptocurrency. Sorta like an IPO but in the blockchain. And some startups have taken to this instrument to raise cash.
It’s a largely unregulated space, for now. In the meantime, a local company is on tap to become first in town to launch such an offering. Verif-y, a credential verification startup incubated on PNM’s Project Liberty, is hosting a chat to talk about the steps to set up an ICO. Founder Ed Zabar will be the keynote speaker.
“We’re going to be talking about the process of going to ICO and perhaps the effect of the recent SEC ruling on the DAO ICO,” said meetup organizer Thomas Jay Rush, who himself is a blockchain founder by way of accounting company QuickBlocks.
So has any Philly company done an ICO yet? “Not that I know of, but if we can get it through we might be the first ones,” Zabar told Technical.ly.
https://www.meetup.com/Philadelphia-Ethereum-Meetup/events/241641349/
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