Modern day entrepreneurs have creative ways of raising money like crowdfunding, which is steadily gaining dominance. ICOs operate under similar principles in that investors are offered shares in a currency that is still in development. In exchange, they contribute the more popular digital currency such as Ethereum and Bitcoin. Fiat currency like the Euro and USD can also be used.
The blockchain is one of the hardest things to explain about cryptocurrency and Ethereum’s smart contracts can be every bit as confusing.
As the financial technology industry has developed greater and faster tools with the internet, blockchain technology was created. This has created the ability to pay for services and goods online with completely digital money. It is commonly referred to as Cryptocurrency.