STO: Equity Crowdfunding Innovation for Indonesian Start-Up

Authors

  • Clara Valentine Febiolla Universitas Atma Jaya Yogyakarta
  • Erinne Yeolencia Universitas Atma Jaya Yogyakarta
  • Samantha Meidelin Lavenda Rimba Universitas Atma Jaya Yogyakarta

DOI:

https://doi.org/10.24002/kinerja.v26i2.5526

Keywords:

blockchain, crowdfunding, cryptocurrency, start-up company, security token offering

Abstract

Blockchain and crowdfunding are innovations that have brought significant changes to business and funding activities around the world. The existence of blockchain has created cryptocurrency, which is currently popular among many investors worldwide, without exception for domestic investors. On the other hand, crowdfunding tools such as equity crowdfunding could develop a blockchain-based funding system. This system uses a cryptocurrency security token as an investment instrument, where the initial offering is referred as a Security Token Offering (STO). This study aims to analyse a blockchain-based equity crowdfunding system using cryptocurrency security tokens and design the system for start-up companies in Indonesia. This study used a descriptive method with qualitative approach used SWOT analysis and quantitative approach with questionnaire as supporting data. This study indicates that the existence of blockchain-based equity crowdfunding provides opportunities for start-ups in Indonesia to obtain funds for developing their business.

Keywords: blockchain, crowdfunding, cryptocurrency, start-up company, security token offering

References

Acharya, V., Yerrapati, A. and Prakash, N., 2019. Oracle Blockchain Quick Start Guide. Brimingham: Packt Publishing.

Adiwijaya, S., 2020. Tiga Tantangan utama Startup Indonesia. [online] Available at: https://www.tagar.id/tiga-tantangan-utama-startup-indonesia [Accessed 10 Dec. 2021].

Blank, S., 2014. What’s A Startup? First Principles. Nature Reviews Drug Discovery, 13(8), p.570.

Dash, S.B., 2019. Startup companies: Life cycle and challenges. International Journal of Psychosocial Rehabilitation, 23(6), pp.732–737.

Goleman, T., 2018. Cryptocurrency: Mining, Investing, and Trading in Blockchain for Beginners. United States of America: Zen Mastery.

Hutomo, C.I., 2019. Layanan Urun Dana Melalui Penawaran Saham Berbasis Teknologi Informasi (Equity Crowdfunding). 24, pp.65–74.

Irawati, 2019. Tinjauan Yuridis Pemanfaatan Equity Crowdfunding Bagi Pengembangan Usaha Kecil dan Menengah di Indonesia. Diponegoro Private Law Review, 4(2), pp.1–14.

Jaya, M.A., Ferdiana, R. and Fauziyati, S., 2017. Analisis Faktor Keberhasilan Startup Digital di Yogyakarta. Jurnal Universitas Muria Kudus, [online] 4(1), pp.167–173. Available at: https://jurnal.umk.ac.id/index.php/SNA/article/view/1261.

Lambert, T., Liebau, D. and Roosenboom, P., 2020. Security Token Offerings. SSRN Electronic Journal, pp.1–43.

Laurence, T., 2019. Blockchain for Dummies. 2nd ed. Canada: John Wiley & Sons, Inc.

Ramadhansari, I.F., 2021. Transaksi Capai Rp70 Triliun, Pemerintah Segera Bentuk Bursa Kripto. Bisnis.com.

Ratnawati, S., 2018. Ekonomi Kreatif dan Kaizen. Jurnal REKOMEN (Riset Ekonomi Manajemen), 1(2).

Ries, E., 2011. The Lean Startup. New York: Crown Business.

Downloads

Published

2022-09-20

Issue

Vol. 26 No. 2 (2022): KINERJA

Section

Articles

License

 Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.