第一部份大意：
近期的加密货币市场异常疯狂。然而在加密货币领域中，ICO这一块的警钟敲得最响。今天ICO已经集资了32亿美元。投资人认为投资ICO是另一个在早期介入另一个bitcoin的机会。
ICO很有可能与骗局相关联。在9月SEC有了第一起针对ICO进行指控的事件。同时中国和韩国已经全面禁止ICO。
然而在技术驱动的疯狂泡沫的背后，ICO也有其意义。他能够为一些初创公司提供资金方面的支持，也能够产生新的公司的形式：去中心化的产品节构的公司。这给选择少数科技巨头公司的今天提供了新的选择。
The recent frezy is for all things crypto, especially ICO, where the alarm bell rings most loudly. Up till now ICO has raked more than $3.2 billion. Investor scent something diferent: it is a chance to be in at the birth of another bitcoin.
ICO may be related with fraud. In Sep the Securities and Exchange Commission has its first charge against a token issuer. Meanwhile, China and Korea have banned ICO.
However, ICO has its meaning in the mania of tech-driven bubble. It can provide a source of finance of some software projects, and can give rise to a new form of firm: firms with products of decentralised structure, which can provide an alternative to the tech giants of today.
