On 21 September COBALT Estonia partner and co-chair of the Banking and Finance practice group Kristel Raidla-Talur participated in a meetup organised in Tallinn by Estonia Legal Hackers. The topic of the evening was Initial Coin Offering and Kristel talked about the legal aspects of setting up an ICO.
ICO (initial coin offering, also referred to as token sale) has become increasingly popular type of crowdfunding, the estimated total amount raised during 2017 already being well over $1 billion. ICO is arranged through a blockchain platform using smart contract functionality. Cryptographic tokens can be acquired for crypto or fiat currency and later sold on various crypto exchanges.
Legal Hackers is a global movement of lawyers, policymakers, technologists, and academics. It organises meetups for law practitioners who are interested in technology and tech people who find legal issues fascinating.