[chrisco255]

ICOs are an all-encompassing term. They cross cut utility tokens, security tokens, and new crypto currencies.

So an ICO for something like Filecoin, which is monetizing a storage protocol built around IPFS, that's a utility token. There are plenty of legitimate ICO projects out there that have either 1) already shipped 2) have a working beta or 3) are risky but have strong teams. It doesn't take a lot of time to look for them.

I'm not a lawyer, but security tokens and the tokenization of private equities, and everything from startup shares to real estate to gold-backed tokens, these are positive developments. Raising money for business IS hard, and especially so if you're not one of the privileged tech elite in Silicon Valley. Author seems to forget this.

Furthermore, there's other sectors of the economy too. Have you ever tried raising money for a non-tech business? It's not easy. Money isn't exactly abundant in these sectors. Blockchain/token fundraising has the potential to bring more efficient capital markets to underserved industries and underserved jurisdictions (including other countries with different securities regulations).