Tag: ICO

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A Friendly Regulatory Framework on Initial Coin Offerings (ICOs) Adopted In France

French Economy Minister Bruno Le Maire announced on his Twitter account the approval of a regulatory framework for Initial Coin Offerings (ICOs) across France. The European country becomes one of the first major economies in the world to create a clear legal framework around the ICO, which has been considered by the officials as an opportunity for the nation’s monetary ecosystem.

The special committee of the National Assembly of France charged with examining the draft law “Growth and Business Transformation” approved the document on September 12th. Article 26 of the bill establishes a legal framework for the issuance of tokens or cryptographic tokens, known as ICOs. This new ICO regulatory framework aims to encourage France’s positioning as a legally friendly country for ICOs while offering protection for investors.

“This legal framework will attract innovators from around the world,” wrote Minister Le Maire.

France adopted a friendly regulatory framework regarding ICOs (Initial Coin Offerings)

According to the approved document, the Financial Markets Authority of France may require ICOs to become a legal entity established or registered in France. Also, they must develop an effective policy for KYC, as well as a technological structure that guarantees the normal flow of the issued crypto tokens.

The French Financial Markets Authority will have the responsibility of creating a “white list” to communicate to the public which ICOs comply with the new regulatory framework, providing an “important guarantee” for investors, as the document states. In addition, it was stipulated that those tokens that are considered securities will continue to be subject to the legislation governing public offerings of financial securities.

France continues to advance in its friendly position regarding cryptocurrency and ICOs and the ventures associated with their underlying technology. Let’s remember that during April the Council of State of the French government reported that the cryptocurrencies would be considered as movable property, which implies the reduction of the taxes on digital assets from 45 to 19 percent.

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Sberbank and The Bank of Russia Ensured Successful Conclusion of an Experimental ICO

The experimental regulatory platform set up by the Central Bank of Russia has completed an Initial Currency Offer (ICO) sponsored by Sberbank, according to some inside sources. Ivan Semagin, director of Financial Market Development at the Central Bank of Russia, revealed to the news agency TASS that, despite having met the goals of the ICO in the technical sense, there were some obstacles from the legal point of view, which he did not detail.

Sberbank was the primary investor in the recently concluded ICO

The experimental ICO was announced in April of this year and carried out together with Sberbank, Russia’s leading retail bank, and Russia’s National Liquidation Depositary. The initiative aims to encourage the country’s financial players to experiment with such a business model.

The issuing company of the ICO in question was Level One, a commercial promotion website, while the principal investor was the corporate arm of Sberbank, Sberbank CIB, and the NSD was the custodian of the operation.

Sberbank is very interested in crypto coins and announced in January of this year that it plans to open a cryptocurrency exchange for institutional investors through its subsidiary in Switzerland.

ICOs are a promising business model, while cryptocurrency is a “harmful scheme”

The announcement of the successful conclusion of the ICO was made during the Eastern Economic Forum (EEF), held in Vladivostok, which is an event held annually to strengthen alliances between Eastern Russia and the Asia-Pacific region. Both Russian and Chinese officials, as well as various media and journalists, were present at the event.

Alexey Chekinkov, CEO of the Development Fund for the Far East and Baikal Region, stated that ICO can bring monetary prosperity as a business model but, on the other hand, he deemed Bitcoin (BTC) or cryptocurrency, in general, is “a harmful scheme that wastes a lot of electricity in vain.”

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The Best ICOs to Keep an Eye on in 2018

So far, 2018 has been a tough year for cryptocurrencies – let’s not even mention ICO investing. It’s a difficult situation to watch, since the Global Market Capitalisation has decreased a lot and the BTC power has increased by about 53%. When it comes to ICOs, the changes showed that investors are willing to take a less risk, things that led to small investments in the ICO market. So this meant longer sales and smaller returns at the exchange.

We’ve written this article to give you the best ICO’s to pay attention to in 2018.

Skynet

People know Skynet as being the AI blockchain chip for the Internet of Things – it allows connectivity between billions of gadget which are optimized with the help of a blockchain network.

When it comes to the IoT, gadgets should interact with each other in a secure and fast way, without the human help. The aim is for the gadgets to connect freely to reduce our everyday efforts. With the IoT, there’s trust between the gadgets, and the costs are reduced, since they eliminate the mediator and the data gets exchanged immediately.

Skynet seeks into replacing the IoT gadgets with a blockchain enabled chip that they can call their own, which is called Skynet Core. The aim is to connect millions of gadgets with the help of a blockchain network that can handle millions of interactions.

Blockcloud

This one is also seeking IoT. The aim is to become a solution when it comes to developing the IoT industry, by introducing a system that can reward users, miners and service providers.

Blockcloud will make the most out of SCN (or Service-Centric Networking), which is a web 3.0 idea that wants to use service names, and not addresses. Lots of gadgets won’t have the connectivity problem anymore, and they could interact without any kind of slowdown.

Uranus

This one has the aim to use a blockchain network in order to connect the shared processing power of the idle calculating gadgets. With the help of mobile phones, PC and laptops and through a dispersed blockchain network, they want to give shared computing power that can represent the rival of Microsoft, Amazon or Alibaba.

It’s true, their vision is not original, but it’s amazing how they can establish models. They give an alternative to some existing centralized cloud calculated service providers, so Uranus becomes an economic, decentralized substitute. They are expected to have an efficient program for a low cost – lower than the traditional methods.

ChromaWay

This one has worked at their own private blockchain from 2014. Along the way, they released SofiWay, which is a platform that leads the way of the early development of E-Krona, which is known as a digital currency.

We should also mention PostChain, which is ‘The First Consortium Database’ that collaborated with the National Bank of Sweden to make ‘The University Identity Hub’. You should keep in mind that they did all of this without the help of ICO.

Metabase

Metabase is a 3rd generation blockchain that talks about the problems that exist in the present chains and works on improving the technical and design limitation that come with the first generation protocols (like Ethereum and Bitcoin).

Their aim is to challenge the existing blockchain platforms, which introduce the new split chain concept. They split the blockchain structures into multiple chains that are formed. Then they split into two equal halves and then they again split – it really depends on the demand and the mining capabilities. This will go into a binary tree. As a result, the transaction times will scale effectively, because of the fact that the mining force will be split into multiple blocks.

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Second-Largest Stock Exchange In Germany To Launch An ICO Platform And A Cryptocurrency Trading Platform

Germany’s second-largest stock exchange, the Boerse Stuttgart, has unveiled plans to develop an Initial Coin Offering (ICO) platform, as well as a multilateral cryptocurrency trading platform, as reported by Finextra yesterday.

The German stock exchange, which in 2017 had a trading volume of about $95 billion in all asset classes, had already presented a prototype of its commission-free cryptocurrency trading platform to the public. The platform, called Bison, is scheduled for release in September.

The exchange is now targeting both the primary and secondary markets through the development of both an ICO platform and a multilateral and regulated crypto trading system.

The ICO platform will facilitate the issuance of crypto tokens, corporate financing, and representation of rights and assets, with the aim of increasing their chances of success.

The ICO platform launch would help the Garmany’s second-largest stock exchange develop a multilateral cryptocurrency trading platform

According to Finextra, Alexander Hoptner, Boerse Stuttgart CEO, said the move to develop the cryptocurrency trading platform is a response to “retail and institutional investors’ demand for a regulated and reliable environment for crypto trading.”

“At the trading venue, tokens issued through our ICO platform can be traded on the secondary market. This is an important success factor for ICOs,” Hoptner added.

Alexander Hoptner added that the purpose of the exchange is to provide “core services along the value chain of digital assets, all under one roof,” so it is developing a comprehensive services infrastructure that will include secure custody solutions for both emerging digital assets and established cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Bison is being developed by local data analysis firm Sowa Labs, which the platform acquired in December 2017 as part of its roadmap to an ambitious “digital strategy”.

Beyond cryptocurrency trading operations, the Bison platform seeks to integrate the underlying blockchain technology to increase the efficiency and security of the transactions.

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The Hottest Platforms for Your ICO

If you plan a token sale, you should launch it on Ethereum. This is the thought of many people who are new to cryptocurrency since Ethereum seems to rule the landscape.

After all, Ethereum serves as the base for 90% of the top 100 tokens ranked according to market capitalization. The powerful ERC20 token standard is universally praised by developers, because it allows smart interaction among tokens that share the standard.

You should however keep in mind that Ethereum is not mandatory for launching a token sale.  While it is certainly popular, other platforms have recently gained traction. It has also been observed that many operations built on Ethereum seem to fail.

Keeping all of the above in mind, here are a few safe alternatives to explore:

Stellar

The core of Stellar a unified platform for building block-chain based payment apps. It runs on a custom protocol called federated Byzantine Agreement, employing ‘’quorom slices’’ in order to establish a coherent system-level policy.  It is also preferred by a large company because it can support several high-volume transactions simultaneously with minimal fees.

NEO

Called by some ‘’The Ethereum of China ‘’ NEO is much more than that. Among the benefits, you can count a digital identity infrastructure for identifying both organizations and individuals. It also allows the free trade of digital assets hosted on the network. It is based on the NEOContracts protocol, which allows developers to write it in mainstream languages.

Dispatch

While not available for the public yet, Dispatch may be attractive for developers that need more data storage for their project. It is planned to be released around Q4 of 2018 but development builds are available for interested developers on the company website.

Qtum

The last but not least on our list is Qtum.  The Singapore-based project takes the best from both Bitcoin and Ethereum.  It is very user-friendly and developers are able to switch between protocols in a flash. It is a very convenient solution for both new and experienced developers.

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