Initial coin offerings as an early blockchain use case

Raising money by offering part of your equity and/or profits through ‘initial coin offerings’ is gaining momentum. Companies raised over 600 million dollars through ICOs in June alone:

Here’s a primer on this:

Such a purchase of digital tokens only has value if such a token is central to the company’s business model, else it is little more than toy currency. In other words, the company much be built on the blockchain on which this currency is issued: