The attributes of blockchain; efficiency in asset transfer, data accuracy, time-stamped transaction and transparency applications are postulated to have positive effects on fundamental analysis. Psychological factor such as herding may affects fundamental analysis which in turn affects investment decision making. Herding is not necessarily always deemed to be an irrational or negative factor. Investors who are affected by herding may still be able to invest in a rational manner and make a profit. With greater transparency in information and better data quality offered by Blockchain applications, herding behaviour by instititional investor could improve the stock valuation as well as the stock market fundamentals. These could be utilised by individual investors to make better and informed decision for stock picking. However, this is may only applicable to reputational herding.     

Ethereum is an open-source, decentralized applications to support a cryptocurrency-based trading platform. The recent Ethereum hard fork, called ‘Istanbul’ took place in October 2019 due to threats from multitude of competitors has been completed. This hard fork brings six Ethereum Improvement Proposals (EIPs) which includes code execution, blockchain’s mining algorithm, increase data storage process capacity and also reduce Gas costs. Although these changes intended to improve the performance of Ethereum blockchain, many people have raise concern that forking is controversial. Cryptocurrency forks usually brings big changes ahead and may have serious implication on the price of Ethereum. Many resource appropriators (coin holders) are anxious about when will be the next network update for Ethereum. Most of the rules and decisions are made before these participants join the system or leave in the hands of developers of the project. There is lack of effective means for most resource appropriators or stakeholders to participate in system of decision-making for the next network update. This article provides a comprehensive overview of how decision-making for network update to be made in Ethereum and to propose the implementation of the management rights concerning the design, implementation of future changes to the Ethereum platform in order to achieve a clear collective-choice arrangement that allow most resource appropriators and stakeholders to participate in the decision-making process within the Ethereum community.

In this 20th Century Digital World, the Initial Coins Offer (ICO) acts as fundraisers for a start-up that is related to technology. There have been many successful ICOs launches over the past several years that have resulted in giving investors good returns for their investments. However, the lack of regulatory framework has resulted in the unregulated position and the unidentified nature of the dealings involved. There is a substantial number of ICOs which were scams and have resulted in multi-million-dollar fraud schemes. Potential Investors of ICOs are presently susceptible to misrepresentations, scam, and exploitation. Unlike the traditional mode of fundraising such as Initial Public Offer (IPO) where investors can access information through the vetted official prospectus of the proposed company which includes past financial performance and projected future operations together with all related financial statements. However, ICO potential investors for proposed ICO projects are only able to access and scrutinize published ICO whitepapers. ICO whitepapers are the only available documents or the source information that investors can access and rely on to make an informed judgment and investment decision. This research paper will highlight the important areas that should be rigorously studied and verified by potential investors when making an investment decision and to identify and distinguish the indicators of scam or fraudulent ICO project. Potential investors should familiarise themselves with the various types of ICO token and property rights attached accordingly as each token possesses a unique bundle of property rights. The property rights of ICO token together with the ERC-20 token standard which consists of six mandatory rules would serve as a useful guide for the potential investor to understand and to evaluate the legal, operational and governance of the framework of ICO projects in order to make an informed and appropriate investment decision.

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