New Financing Opportunities on the Block Chain: Regulatory Challenges for Supervisory Authorities, Opportunities for Better Investor and Consumer Protection

Abstract :

The author of the attached article is currently running a phd programme at the Comenius University in Bratislava in Management on the topic "Management systems for better protection of investors and consumers against investment fraud and financial crises.“?The motivation for the subsequent publication was based on the fact that in the meantime, for several years now, new financing possibilities have been available on the block chain such as ?Initial Coin Offering“, ?Initial Exchange Offering“, and ?Security Token Offering,“ in which investors and consumers are increasingly given the opportunity to participate.?In the meantime, however, it has become apparent that the new investment opportunities for investors have often been associated with high losses or even total loss.?First of all, the article will describe the currently existing financing possibilities of new ones such as Initial Coin Offering, Initial Exchange Offering and the negative development for investors in recent years, then what measures are/were taken by supervisory authorities to better protect investors and finally the new financing instrument of Security Token Offerings with its advantages and disadvantages for investor protection and whether it promises better protection for investors in the future.?In order to present the current status in the best possible way, both previously available literature/books on the topic and current research material from the Internet, some of which is even more up-to-date than information in books, should be used.