Ethereum update: ICO legal question
As I understand it, one use for creating an ICO is offering token buyers a future product in exchange for their tokens. Maybe the ICO was to help raise money to create a membership business, and the token could be exchanged for a membership in the future.
If the company does not follow through on their promise, what are the legal repercussions? Is there any kind of non-digital, legally binding contract that should be used?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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