Articles

International Crypto Platforms Unite To Develop ICO Standards- Unkrypted

by Ricky Makan Co-Founder at Unkrypted

Waves Platform is an open-source Blockchain platform, on 11th  Dec 2017 announced the creation of a ‎self-regulatory body, an industry-led initiative to control and form the responsible development ‎ ‎of for ICO standards and blockchain industry

An announcement was made on 11th Dec 2017 and the focus of this new institution is to give reporting, tax, legal, ‎ ‎bookkeeping, KYC, and company due diligence criteria to the token crowd sales and initial coin ‎offerings which have turned into a controversial foundation for blockchain startup financing.‎‎

In light of the problematic character of ICOs, ‎the alliance ‏is well known as bringing the blockchain business‏ ‏‏ ‏to the Next level of this ‎ ‎professionalization, allowing the platform to supply Several significant functions and spheres of action.

Backed by Deloitte, ICO ‎Governance Foundation and Ethereum, who, amongst others, said their support for the ‎initiative‏, the institution ‎ ‎will serve a much-‎‎desired role in aiding the business build for itself through offering these services.

  • Creation of reporting guidelines for ICO projects‏.‏
  • ‏KYC/AML guidelines for ICO investors‏. ‏
  • Business due diligence‏. ‏
  • Legal assessment.

‏‏Some ICOs have currently been fraught with their own issues. Around $300 million worth of ‎ ‎these crypto-currencies were stolen by ICO firms in 2017 by hackers, according to Russia-based computer security company Kaspersky Lab.

According to the creator of the ICO Governance Foundation Miko Matsumura: “The Waves Platform is taking a leadership role in working together with IGF on ICO standards criteria. By demonstrating ‎ ‎leadership here they’re enlarging the reach of what it means to be a stage for token ‎ ‎generation.”‎‎

Vladislav Martynov, Ethereum advisory board member, added: “Joint and voluntary initiatives such as self-regulatory body to get nominal earnings are a crucial ‎ ‎component in the professionalization of their blockchain market. As custodians of some of the ‎ ‎most tumultuous and remarkable technologies ever made, we have to be regarded as boosting its ‎responsible use in addition to building functionality and keeping the safety of the ‎ecosystem.”


Source: http://www.unkrypted.com/crypto-platforms-unite-to-develop-ico-standards/


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About Ricky Makan Advanced   Co-Founder at Unkrypted

6 connections, 3 recommendations, 101 honor points.
Joined APSense since, November 28th, 2017, From Delhi, India.

Created on Dec 14th 2017 00:19. Viewed 226 times.

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