Blockchain and Distributed ledger Technologies are are getting a lot of attention, with more and more investors pushing into the space and into ICOs. But what exactly is an ICO and who are these New Kids on The Blockchain? The underlying technologies of Bitcoin and Ethereum are still in public beta, thus immature. The only real killer app with some kind of track record so far seems to be Bitcoin itself. Everything else is still a prototype, white paper, and sometimes not even that. Business models are untested, network effects almost non-existent. If you have a good look at the landing pages of all these new blockchains, dApp and DAOs, you will soon figure out, what is what, and what is not, because more often than not, it’s just a flashy website. So how can we distinguish the flashy from the real deal? This talk will focus on the state of the technology, outline technological and legal challenges, and introduce some facts to understand the Blockchain space better.