5. Managing the Crypto Marketplace

Entrepreneurs entering the crypto currency world will do so via an initial coin offering (ICO). ICOs in general have a community of users that participate in building a perceived value of the token or coin by using it as a medium of exchange for a given marketplace of goods or services provided by the ICO network—or trading the token or coin on a crypto currency exchange. Designing a system of governance for the community is the burden of entrepreneurs who dare to take on such an endeavor to ensure their fate is not the same as that of Ross Ulbricht. Participant management was not a topic of high interest for the original designers of digital currencies or bitcoin. The works of the cypherpunks, the group associated with creating a body of works that became the foundation and inspiration for bitcoin, do little to address the issue of participant management.