While cost structures for an IPO and ICO may not be directly comparable due to differences in regulation, real savings can be realised in the post-IPO/ICO stage. Thinking of tasks such as dividend payments or shareholder voting requiring many intermediaries such as accountants, lawyers, and bankers, switching from paper-based to digital ownership with the issuance of equity tokens permits full code-driven automation without intermediaries and at reduced cost of governance. The investor therefore either receives return on investment as consequence of the value gain of equity or through dividends, or receives future services that are offered by the investment project (renewable power, access to shared bikes, etc.). This core concept is described in greater detail in section 3.1.1.