Category: ICO Legal Service

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Is blockchain technology vital for ICOs to function?

Categories Blockchain, Cryptocurrency, ICOs, Malta, ICO Legal Service, E&S Group, Technology, Tokenomics, Advisory, Tokens, Utility Tokens, Security Tokens, Ethereum, VFA Act, ESTS Initiative

Is blockchain technology vital for ICOs to function?

Every Initial Coin Offering (ICO) works by means of blockchain technology. Subsequently, blockchain is the source that issue tokens, trade cryptocurrencies and aid miners to operate the platform. This technology is combining many industries both private and public to use this advanced system of collecting data.

ICOs and Tokens

Although blockchain can function on its own, it is widely used by ICOs. Many companies and startups are moving towards a blockchain era of things. A surge of investors are spending their money on various projects and digital currencies that are exceeding the market cap by trading volume. However, most ICOs issue their cryptocurrency by means of tokens. In reality, ICOs are projects that are designed by founders offering a service to their followers. Most companies opt for a blockchain based ICO to remove any third parties. Money needed to start off the project is collected by means of crowdfunding. Tokens, another word for cryptocurrencies are issued to whoever funds and supports the initiative.

What will happen when ICOs reach their Soft cap and Hard Cap?

During the Virtual Financial Assets (VFA)  offering stage, ICOs invest in their marketing projects to attract more investors. During the VFA offering process, ICOs would need to reach their soft cap and then the estimated hard cap. When the VFA offering ends, every ICO takes a different path. Some of the currencies end up on the market cap, trading their tokens with other cryptocurrencies while others continue with their intended project.

Blockchain a decentralised platform.

Blockchain is a decentralised platform for storing data. This new technology is becoming an important platform for processing transactions. Every transaction is verified by means of computer nodes connected to each other. Besides Bitcoin, new blockchain based cryptocurrencies started to take over the market. One of the most popular blockchain platform by far is the Ethereum platform. Created by Vitalik Buterin, the Ethereum platform has become the ideal platform since it is easy to set up. The Ethereum platform works via smart contracts. These digitalised contracts work to facilitate, verify or enforce the negotiation or performance of a contract. Meanwhile, these contracts eliminate the use of third parties. The majority of ICOs tend to use the Ethereum platform for smart contracts.

Legal advice to ICOs.

Despite the fact that ICOs require blockchain technology to work, legal advice is of the utmost importance. Signing up your ICO in a progressive jurisdiction such as Malta would help the project reach its final stages. An interdisciplinary firm based in Malta, E&S Group, offers an array of services assisting ICOs from their concept stage up the actual offering. Advisory service offered to prospective ICO clients are blockchain, tokenomics, taxation, and opening a Malta company, to name a few. To date, E&S Group has successfully advised over 40 ICOs, all reaching their hard cap.

Now is the chance to set up your dream ICO project in Malta. E&S Group will help you achieve your dream. For further information regarding our ICO Legal Service please click here.  Or contact us on +356 2010 302  or by email on [email protected]

If you have an upcoming ICO and would like to take part in ESTS Seed Competition, please follow this link to know what is required of you to participate.

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Malta – the home of crypto

Categories Blockchain, Cryptocurrency, Malta, ICO Legal Service, The Blockchain Island, DLT Regulation, E&S Group

Malta – the home of crypto

The island of Malta has steadily been building its reputation as a leading jurisdiction for blockchain and cryptocurrency markets. As a result, the Maltese government has positioned itself attracting future blockchain based investment to the island.

Lagarde speaks in favour of cryptocurrencies

Last May, three laws regulating various aspects of the blockchain industry passed through the Maltese parliament. This positive approach towards cryptocurrencies was also met by Christine Lagarde. In a blog post, the head of the International Monetary Fund affirmed the global benefits of cryptocurrencies. She also stated that cryptocurrencies such as Bitcoin could pave the way for fast and inexpensive transactions. Moreover, the blockchain technology could make financial markets safer and more transparent.

Upon the publication of Ms Lagarde’s comments, the price of Bitcoin registered a rise. Although, it is not clear if these gains are directly related.

“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills,” Ms Lagarde wrote in her blog post.

In her blog post, Ms Lagrade repeated comments she made to the Bank of England last year. She had called for a more even-handed approach towards regulation. This would eventually lead towards regulating such currencies, eliminating exploitation of benefits whilst minimising associated risks.

A flexible framework

Malta’s proposed acts that are soon coming to force, are to provide a flexible framework to entrepreneurs. These laws are to provide substantial growth and development to the sector. It also offers protection for who is investing in it.

A further boost for the island was the announcement that the world’s largest cryptocurrency exchange, Binance. This world-renowned company stated that its move to Malta was reached due to its “very progressive [approach] when it comes to crypto and fintech”. Another company Bitbay has also announced its intentions to relocate to Malta after extensive fact-finding on the perfect EU jurisdiction.

The future of money

PM Joseph Muscat has stated that he believes cryptocurrencies are “the inevitable future of money”. Moreover, they will be an integral part of a new economy in the future. In the short term, the move of several established crypto businesses to Malta is set to create hundreds of new jobs. The new set of laws that will be coming into force in due course are set to offer the broadest set of regulations for the industry. The three acts will provide regulatory clarity to brokerages, exchanges, asset managers, and traders amongst others.

 

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

 

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Tokenisation of the football industry with Socio.com

Categories Blockchain, ICOs, Malta, ICO Legal Service, The Blockchain Island, E&S Group, Tokenomics, Tokens, esports, Utility Tokens, Football, Sports

Tokenisation of the football industry with Socio.com

Recently a Maltese based Fintech and sports company, Mediarex, has raised $65 million through a private token sale. Mediarex utilizes the blockchain based sports platform chiliz.com. Due to the hype of the World Cup, chiliz.com has set in motion a football platform through Socios.com. This platform will engage and monetize football fans through the World Cup season.

Engaging Fans through Socios.com

Fans around the world bet for their favourite teams to win. Through Socios.com, fans can vote by means of tokens enabled by the blockchain platform. Football fans can buy tokens distributed within the blockchain system. When purchasing these tokens, fans can also trade and execute voting known as “crowd-manger” rights to their favourite team. Since Socios.com is collaborating with chiliZ, players can purchase $CHZ token to participate in this platform. chiliZ has, in fact, contributed $20 million to Socios.com venture, taking the football fan engagement into the mainstream.

Will “Socios” concept be of success?

Since the technology industry is moving at a fast pace, football fans are looking into the digital aspect of fintech and blockchain based solutions. By means of mobile applications, football fans from around the globe will connect together through the Socios.com platform. It is estimated that Socios blockchain will connect 4 billion football fans worldwide to the 1000 UEFA clubs and 2300+ professional football teams in existence. Once registered in the platform, teams can trade voting rights for management decisions within the Socios.com platform. Moreover, each team can manage their “token sale”, receiving funds from their fans and investors exchanging them into voting rights.

 

E&S Group is pleased to have advised chiliZ.com. For more information regarding our ICO Legal Services please check us out on this link. If you would like to contact us please send us an email on [email protected] or phone us on +356 2010 3020

 

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LifeTask launched its Private Placement! – The human potential source.

Categories Blockchain, Cryptocurrency, ICO Legal Service, E&S Group, Technology, Tokens, New ICO - LifeTask

LifeTask launched its Private Placement! – The human potential source.

E&S Group is proud to announce that its client LifeTask has launched its Private Placement!

 

Our client LifeTask has created a P2P platform app by means of Artificial Intelligence. This concept came about to bring employers and prospective employees closer through their decentralised competence platform. Through this platform, the best job match will be guaranteed to employers discovering new talents within the job market.

Employers are subjected to fill a detailed job description to be placed on the LifeTask platform which will be placed under on AI platform. While employees will also fill in their portfolio and submitted in a separate AI platform. The positive side of this technology is that LifeTask platform can effectively find the perfect potential candidate the company would like to join their business. Prospective employees are not restricted to fill in their competencies but also their interests and personal development. This highly acclaimed initiative will save time and money. The employer can pay for the service given by LifeTask Tokens available on the platform.

E&S Group is proud to be advising and supporting such an innovative project bringing employers and prospective employees one step closer to achieve a harmonious work environment. If you are interested and would like to know more about the services offered please visit their website on https://www.lifetask.io

Planning an ICO or simply want more information on ICOs, Blockchain or Crypto? Click here to read more about ICOs or contact us on [email protected]

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Yizoot Token Offer is LIVE NOW! – The world of video reinvented.

Categories Blockchain, Cryptocurrency, ICOs, ICO Legal Service, E&S Group, New ICO - Yizoot, Tokens

Yizoot Token Offer is LIVE NOW! – The world of video reinvented.

E&S Group is proud to announce that its client Yizoot has launched its Pre-Token Offer!

The founders of Yizoot have created a platform through blockchain technology. Contributors using the Yizoot platform can fully take advantage of geo-space (digital land), offerings, and voting rights. Users can automatically process transactions hence purchasing rent geo-land by means of YTC Tokens. The platform also provides an Augmented Reality and Geo-spatial tools for video-based platforms.

The platform provides any location mapped around the world. By means of smart contracts, subscribers can manage their own video geo-channel, thus ensuring Proof-of-Concept to viewers and advertisers alike.

E&S Group is proud to be advising and supporting this innovative Geo-spatial platform. To learn more about Yizoot, please visit their website: https://yizoot.com

Planning an ICO or simply want more information on ICOs, Blockchain or Crypto? Click here to read more about ICOs or contact us on [email protected].

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Binance, the world’s top crypto exchange moving to Malta.

Categories Business, Modern, Economy, Financial Services, Blockchain, Cryptocurrency, Regulatory, ICOs, Malta, ICO Legal Service, BankTags , ,

Binance, the world’s top crypto exchange moving to Malta.

One of the world’s largest cryptocurrency exchange by traded value is seeking a fresh start on a little Crypto island in the Mediterranean.

Binance, founded last year in Hong Kong, will soon start a “fiat-to-crypto exchange” in Malta. In an interview, Zhao Changpeng stated that it is planning to open an office on the island. He added that the company mission is currently close to securing a deal with local banks that can provide access to deposits and withdrawals.

Zhao mentioned that “Malta is very progressive when it comes to crypto and fintech.”

Since last year both regulators from China to the U.S. have been cracking down on cryptocurrency exchanges and businesses, leaving many companies like Binance struggling to find a stable base. Before, the company had an office in Japan however it struggled to get a licence to operate. Moreover, Japan’s Financial Services Agency issued a notice to the venue on Friday for working without consent.

Zhao’s venue was the world’s top-ranked exchange by volume for the past 24 hours, according to Coinmarketcap.com, trading about $1.7 billion.  He mentioned that he had recently been invited by the Maltese government to review an upcoming bill that was favourable to crypto businesses.

Malta came to play as policy makers and the government has held public consultations on regulating virtual currencies, token sales, and crypto-exchanges. Last month there was the unveiling of the plans by the Malta Digital Innovation Authority that will certify and regulate blockchain-based businesses and their operations which will also create a framework to oversee initial coin offerings, the Malta Independent newspaper said.

In the coming months, Binance, is currently underway to launch a decentralized exchange.

If you have any questions in relation to cryptocurrency or ICOs, please contact us on [email protected]

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PwC is the latest international company to launch a blockchain related product.

Categories Blockchain, Cryptocurrency, ICO Legal Service

PwC is the latest international company to launch a blockchain related product.

Pricewaterhouse Coopers (PwC), one of the big four international accounting firms has announced a trial of a blockchain analytics tool which will trade digital tokens. The software will help companies to guard against the misuse of tokens for illicit means.

PwC’s Hong Kong forensic services partner, Eric Young have stated that they are looking to capitalise on the growing interest in ICOs as a means of raising funds for manufacturing, technology, and retail purposes in Asia.

Analysts from PwC have indicated that they intend on capitalising on the migration of Asian cryptocurrency businesses to Hong Kong and Singapore due to their lack of prohibitive regulations regarding ICOs, in the wake of China’s increasingly intense crackdown on cryptocurrencies.

Mr. Young stated that this new tool will give token issuers the ability to track the circulation of their coins on the cryptocurrency has been launched. This will assist the company to take measures to prevent its illicit use in transactions.

“While on the blockchain ledger, one could track the amount of transactions that have been done using the cryptocurrencies, there is still no way for an issuer of an ICO to trace its coins and know how these coins are being used,” said Mr. Young.

He added, “With artificial intelligence built into our back engine, our solutions would enable clients to better predict which jurisdictions the digital token could potentially be circulated to. Depending on the type of company and the type of business it is engaged in, it could then apply a high-risk score to that particular jurisdiction.”

Over the last few months, PwC has been working with various companies to seek a way to launch ICOs by assisting with the legal considerations such as KYC and AML measures, as well as supporting counsel in litigations and providing advice regarding tax structures. Additionally, in November 2017, the PwC Hong Kong office announced that it would start to accept Bitcoin as payment for its consultancy services.

Do you require more information regarding ICO Legal Services? Click this link to find out more.

 

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