A Consolidated Business Model Canvas of Blockchain- Based FinTech Startups: Evidence from Initial Coin Offerings

Abstract

FinTech (financial technology) applications are evolving at a rapid speed and are increasingly based on blockchain technology. Startups developing and offering such blockchain-based FinTech applications frequently raise capital through initial coin offerings (ICOs). Against this backdrop, it remains unclear to what extent these startups exploit the disruptive potential of blockchain. Therefore, the present article examines business models of current FinTech startups funding themselves through ICOs. The authors present their results in a consolidated business model canvas, which illustrates the current state of blockchain-based FinTech startups.