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This work demonstrates the value of the CEO’s background in determining the success of ICOs. The definition of success can differ between entrepreneurs and investors and corresponds to
the maximum amount of money raised for the former, and the listing of the ICO’s tokens for the latter. These outcomes are uncoupled from each other through breaches of contract (frauds), i.e., the fact that ICOs that have reached their hard caps do not list their tokens in up to 26.71% of the cases. As a result, both outcomes are influenced by different sets of ICOs’ characteristics, and some characteristics can influence both outcomes in opposite directions (KYC).
We provide models that help determine both outcomes based on factual, easy-to-gather information, including an easy-to-use RPA predictive model for the likelihood of token listing.

CEO characteristic --- Initial Coin Offering (ICO) --- Token offering --- Token listing --- Fundraising --- Finance --- Blockchain --- University degree --- Investors --- Entrepreneurs --- Cryptocurrencies --- Moral hazard --- Country restriction --- Scam --- Sciences économiques & de gestion > Stratégie & innovation