Лютий, Ігор ОлексійовичІгор ОлексійовичЛютийКарпич, А.А.Карпич2026-06-042026-06-042018-12-10Лютий, І., & Карпич, А. (2018). Первинне розміщення монет (ІСО): практика використання в Україні. Вісник Київського національного університету імені Тараса Шевченка. Економіка, (201), 20–26. https://doi.org/10.17721/1728-2667.2018/201-6/3УДК 336.648JEL classification: E22, G23, G32, M13, O1610.17721/1728-2667.2018/201-6/3https://ir.library.knu.ua/handle/15071834/22460Досліджено практику використання ІСО як інструменту фінансування бізнесу в Україні. Проведено аналіз вітчизняних ІСО та узагальнено їх основні характеристики. Визначено фактори, які впливають на розвиток ІСО в Україні. Підкреслено необхідність підтримки ІСО з боку держави.Modern global tendencies show the increasing usage of digitalization in economy. This state of affairs along with unstable macroeconomic situation in Ukraine stimulates national corporations to apply new disruptive instruments of financing, such as ICO. Consequently, the development of Ukrainian ICO market is taking place. It is clarified that the procedure of ICO implies that the companies sell their issued tokens to the general public and that the tokens may grant their owners different rights, e.g. an access to the company's products and services, a right for dividends receiving, etc. The ontology of the research is internal realism, while the epistemology of the given study is constructivism. The main strategy is induction. The qualitative and quantitative methods were adopted analysing secondary data. The statistical analysis was applied for structuring data covering the time period until May 30, 2018. On the basis of the conducted analysis, the paper identifies the main characteristics of ended Ukrainian ICOs, including the number of rounds, timelines, currencies accepted for investment, the characteristics of tokens issued, soft caps and hard caps, etc. As of May 30, 2018, 18 Ukrainian companies already launched ICO, and 11 companies intended to do so in the near future, and the study shows that ca 40 % of all ended national ICOs may be scams. It is emphasized that the Ukrainian corporate sector may use ICOs for financing its activities quite successfully provided that ICO is supported by the state and the national legislation for it is created and implemented.ukпервинне розміщення монеттокенфінансуванняінвестиціїУкраїнаinitial coin offeringtokenfinancinginvestmentUkraineСтаття