Digital Token Valuation

Digital Token Valuation PDF

Author: Roberto Moro-Visconti

Publisher: Springer Nature

Published: 2023-11-20

Total Pages: 509

ISBN-13: 3031429710

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This book looks at the analogic application of standard corporate valuation approaches to trendy digital tokens, expressed by cryptocurrencies, and validated through blockchain systems. Whereas traditional firm appraisal follows institutional guidelines and best practices, frontier research still must define the boundaries of these trendy issues, linking a strong theoretical background to practical advances that still need fine-tuning. This book, written by an academic and a senior consultant, combines theoretical rigor with practical insights, providing an innovative framework for evaluators, managers, and practitioners, and academics of corporate valuation and financial technology.

Digital Asset Valuation Framework 

Digital Asset Valuation Framework  PDF

Author: HashKey Capital

Publisher: 商務印書館（香港）有限公司

Published: 2024-04-09

Total Pages: 258

ISBN-13: 9620776119

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The author outlines a framework that evaluate different crypto assets consistently. Successful crypto investing requires a solid framework for value-based decisions rather than speculation. Hopefully, it can bring some clarity to the industry and help to understand the intrinsic value of crypto assets.

A Critical Appraisal of Initial Coin Offerings

A Critical Appraisal of Initial Coin Offerings PDF

Author: Dominika Nestarcova

Publisher: BRILL

Published: 2019-09-02

Total Pages: 177

ISBN-13: 9004416587

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A Critical Appraisal of Initial Coin Offerings: Lifting the “Digital Token’s Veil” examines the merits of regulating initial coin offerings under traditional securities regulations and provides and in-depth analysis of digital tokens as a new asset class.

Valuation of Crypto Assets. A Conceptual Framework and Case Application to the IOTA Token

Valuation of Crypto Assets. A Conceptual Framework and Case Application to the IOTA Token PDF

Author: Abdulkarim Ajouaou Saidi

Publisher: GRIN Verlag

Published: 2019-08-09

Total Pages: 67

ISBN-13: 3668997071

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Master's Thesis from the year 2018 in the subject Business economics - Controlling, grade: 2.0, Berlin School of Economics and Law, language: English, abstract: This thesis aims at elaborating fundamental valuation techniques for crypto assets. Since research in this field is still at the very beginning this work intends to provide investors, financial analysts, token issuers, researchers or crypto enthusiasts a framework of how to determine the fundamental value of this emerging asset class. To do so, three main research questions are formulated: 1. How can the fundamental value of crypto assets be determined? 2. Which valuation techniques can be applied to the different token types? 3. What is the fundamental value of the IOTA token? In order to answer the questions, the thesis will progress in the following manner: First, the reader will be introduced to distributed ledger technology (DLT) and blockchain, which represent the underlying technology of crypto assets. In the next step the term ‘crypto asset’ will be defined. It will be elaborated to what extent crypto assets can be considered as a new asset class and how crypto assets can be classified into different types. The terminological part will end up with a discussion of the fundamental value of this new asset class. The main body of the thesis consists of two parts, a theoretical (conceptual) and a practical (applicational) part. The theoretical part aims to collect and evaluate all current valuation methods for crypto assets. Different absolute as well as relative valuation techniques will be elaborated, namely the Discounted Cash Flow (DCF) model and CAPM, the asset rotation theory, the Equation of Exchange, the NVT ratio, Metcalfe’s Law, the cost of production approach as well as the accessibility discount. The second part of the main body comprises a case application of one valuation model, namely the Equation of Exchange, to the IOTA token.

How Value is Created in Tokenized Assets

How Value is Created in Tokenized Assets PDF

Author: John Hargrave

Publisher:

Published: 2018

Total Pages: 13

ISBN-13:

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A tidal wave of change is coming to the world of Economic Science. Digital tokens--including bitcoin, altcoins, and cryptocurrencies--will require a fundamental rethinking of valuation, in the same way that the introduction of the stock market required a new understanding of value. As of this writing, the total value of all tokens stands at $500 billion. How do investors place value on computer code, with no central bank or physical asset to support it? Drawing from the literature on behavioral economics and tools from cognitive psychology, we aim to provide the first anchor to understand the criteria that investors are deploying to value new digital assets, making this the first study of applied behavioral economics on token valuation. Using a new instrument called the Framework for Token Confidence, we show how value can be created out of “thin air,” and how tokens, and indeed the entire economic system, operate as something like a “vote of confidence.”

Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond

Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond PDF

Author: Chris Burniske

Publisher: McGraw Hill Professional

Published: 2017-10-20

Total Pages: 256

ISBN-13: 126002668X

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The innovative investor’s guide to an entirely new asset class—from two experts on the cutting edge With the rise of bitcoin and blockchain technology, investors can capitalize on the greatest investment opportunity since the Internet. Bitcoin was the first cryptoasset, but today there are over 800 and counting, including ether, ripple, litecoin, monero, and more. This clear, concise, and accessible guide from two industry insiders shows you how to navigate this brave new blockchain world—and how to invest in these emerging assets to secure your financial future. Cryptoassets gives you all the tools you need: * An actionable framework for investigating and valuing cryptoassets * Portfolio management techniques to maximize returns while managing risk * Historical context and tips to navigate inevitable bubbles and manias * Practical guides to exchanges, wallets, capital market vehicles, and ICOs * Predictions on how blockchain technology may disrupt current portfolios In addition to offering smart investment strategies, this authoritative resource will help you understand how these assets were created, how they work, and how they are evolving amid the blockchain revolution. The authors define a clear and original cryptoasset taxonomy, composed of cryptocurrencies, cryptocommodities, and cryptotokens, with insights into how each subset is blending technology and markets. You’ll find a variety of methods to invest in these assets, whether through global exchanges trading 24/7 or initial cryptoasset offerings (ICOs). By sequentially building on the concepts of each prior chapter, the book will provide you with a full understanding of the cryptoasset economy and the opportunities that await the innovative investor. Cryptoassets represent the future of money and markets. This book is your guide to that future.

The Rise of Digital Money

The Rise of Digital Money PDF

Author: Mr.Tobias Adrian

Publisher: International Monetary Fund

Published: 2019-07-15

Total Pages: 20

ISBN-13: 1498324908

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This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others.

An Introduction to Cryptocurrencies

An Introduction to Cryptocurrencies PDF

Author: Nikos Daskalakis

Publisher: Routledge

Published: 2020-05-28

Total Pages: 97

ISBN-13: 1000077721

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The Crypto Market Ecosystem has emerged as the most profound application of blockchain technology in finance. This textbook adopts an integrated approach, linking traditional functions of the current financial system (payments, traded assets, fundraising, regulation) with the respective functions in the crypto market, in order to facilitate the reader in their understanding of how this new ecosystem works. The book walks the reader through the main features of the blockchain technology, the definitions, classifications, and distinct characteristics of cryptocurrencies and tokens, how these are evaluated, how funds are raised in the cryptocurrency ecosystem (ICOs), and what the main regulatory approaches are. The authors have compiled more than 100 sources from different sub-fields of economics, finance, and regulation to create a coherent textbook that provides the reader with a clear and easily understandable picture of the new world of encrypted finance and its applications. The book is primarily aimed at business and finance students, who already have an understanding of the basic principles of how the financial system works, but also targets a more general readership, by virtue of its broader scope and engaging and accessible tone.

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