Non-native English speaker here but doesn't "by design" refer to something being designed explicitly for that purpose? I agree that lots of ICOs were indeed scams and/or attempts of just taking money for low-quality work, but I don't think fund-raising was initially designed for that. It just happened to be that lots of fund-raising are scams.
But to say that it's by design it's going a bit far, and making your point weaker, not stronger.
Non-native English speaker here but doesn't "by design" refer to something being designed explicitly for that purpose? I agree that lots of ICOs were indeed scams and/or attempts of just taking money for low-quality work, but I don't think fund-raising was initially designed for that. It just happened to be that lots of fund-raising are scams.
But to say that it's by design it's going a bit far, and making your point weaker, not stronger.