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By the end of the last century, the Republic of Korea (South Korea) leveraged macroeconomics[2], industrial engineering[3], and other relevant fields of knowledge to bring invaluable efficiencies to government-backed heavy industries[4] and become a globally competitive economic powerhouse. Industrial output went from zero to one. On a national scale, South Koreans skillfully mastered economics and technology to catalyze an industrial revolution[5] and rapidly enrich[6] their economy. Once again, by leading the charge with the "reverse" ICO[7], South Korean companies are hoping to harness the efficiencies that microeconomics[8] and cryptocurrency engineering bring to venture ecosystems to renew national competitivity and prosperity.
Reverse ICO, or reverse initial coin offering, is now a standardized term in the parlance of entrepreneurial South Korea. Not being native English speakers, the Koreans did not coin the term. They might as well have though. The present generation of South Koreans has embraced the economics and technology of cryptocurrencies for wealth generation with the same fervor the previous generation exercised macroeconomics and industrial engineering.
For
