Category: ICO Legal Service

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A Half Year Report on virtual currencies in 2018

Categories Blockchain, Cryptocurrency, Regulatory, ICOs, Malta, ICO Legal Service, Law, The Blockchain Island, DLT Regulation, Smart Contracts, E&S Group, Technology, Trading, Cryptocurrency Exchange, Tokenomics, Regulation, Tokens, Binance, Utility Tokens, Security Tokens, DLT

A Half Year Report on virtual currencies in 2018

2018 has been an interesting year for crypto with colossal crashes, much-needed market adjustments, and of course, the emergence of a large number of new tokens and cryptocurrencies. Along with significant advances in regulation and legal frameworks that seek to understand, support, and protect those stakeholders operating within this new industry, there is no doubt that the rest of 2018 is going to be just as, if not more exciting as the previous six months.

Mid-January Market Crash

If you were holding Bitcoin in December 2017, you probably couldn’t believe your luck. As the value of a single Bitcoin headed towards $20k, a mad rush to invest ensued and predictions on where the price may head reached stratospheric new heights. Then on January 16th 2018, Bitcoin investors woke up to a nasty shock. The value of their coins had dropped by 15% and this news had a knock-on effect on the value of all other altcoins, causing a huge slump in the value of the market. The excitement and hype that had surrounded cryptocurrencies just a few days before, disappeared just like the profits of those who invested in it.

As prices continued to fall, investors started to panic. They started selling their coins in an effort to nip their losses in the bud and the moniker “Black Tuesday” was coined. Some crypto-coins saw losses of up to 40% and it seemed like many naysayers predictions were coming true and that the bubble had finally burst. Some voices remained steadfastly optimistic however and maintained that price slumps were common in all markets, not just the crypto one. After such an exponential increase in value, it was naturally expected that the market would correct itself because after every meteoric rise comes to a reverse-swing of the pendulum that needs to be ridden out – January was exactly that. As prices are now more stable it is hoped that they will increase at a steady rate, signalling a new era of market stability and maturity.

TRON Makes a Name for Itself

Since January of this year, TRON has experienced a steady increase in value. Despite a few issues, mainly caused by the crypto price-crash, it seemed to have found its niche which suggests a bright future for both the platform and its cryptocurrency.

TRON is a decentralised, blockchain-based, protocol project that functions as a content distribution platform for the digital entertainment industry. Whilst the platform itself is yet to go live the TRX coin is gaining significant traction.

Created by Justin Sun in 2017, the concept behind it is to establish a global network of free entertainment content which allows creators to publish, store and distribute their own content without the need for an intermediary. Whilst its value per coin was only $0.30 in January, it is expected to hit $1 by the end of 2018.

Its main selling point is that it is not just another cryptocurrency. It has a platform that solves a problem and offers functionality to a range of users and publishers. Over the last year, TRON has increased in value by 1.39% making it one of the top crypto coins in terms of growth, making it one to keep your eye on as we progress through 2018.

The Unexpected Rise of Litecoin

Many have dismissed Litecoin as “the poor man’s Bitcoin” but despite this, its popularity has increased drastically over the past few months. It was initially launched via an open-source client on GitHub in 2011, a sort of spin-off of the original Bitcoin Core client, but it offered much lower block generation times, a higher number of coins, a modified GUI, and a different hashing algorithm.

In 2013 it experienced a big surge in value and by May 2017 it had secured a spot as one of the Top 5 global cryptocurrencies in terms of its market cap. Now accepted by a wide range of online retailers, its adoption is increasing and many are seeing it as a better alternative to the rather bloated and over-inflated Bitcoin.

12 and even 6 months ago, blockchain was not something that was widely understood but as we progress to the end of 2018, it is expected that we will see a dramatic uptake of blockchain integration across a diverse range of sectors. Following in the footsteps of IBM, Microsoft, and Maersk, even smaller SMEs are likely to be interested in harnessing its potential.

Litecoin is predicted to peak at a value of over $600 per coin by the end of 2018 and there is no doubt that it has huge potential. Negating many of the issues that are faced by Bitcoin users, it presents a practical, simplified and completely viable alternative to the crypto-giant.

Malta Takes the Lead in Industry Regulation

In the last 12 months, it has seen cryptocurrency, blockchain and ICOs negate a minefield of regulatory and legal issues. Problems around its classification, AML and KYC regulations, and the reluctance of many banking institutions to support the burgeoning technology has resulted in many setbacks for the crypto world but that is all set to change.

The island of Malta has long been a hub for digital technologies and it is well known for its iGaming, Finserv and Fintech industries that when combined, account for around half of the country`s GDP. Then, in March 2018 the Government announced the drafting of three new bills that would seek to provide legal and regulatory clarification on DLT, crypto, and ICOs. These bills are the Virtual Financial Assets Bill which would provide a regulatory framework for ICOs and virtual currencies, the Malta Digital Innovation Authority Bill and the Technology Arrangements and Services Bill which will oversee companies that operate within the market, as well as providing a much-needed guidance and clarification.

This makes Malta the first jurisdiction in the EU, and the world to create a comprehensive legal framework that not only protects all stakeholders including operators and investors, but also supports the growth and development of the industry. By ensuring explicit legal clarification as well as adherence to AML and KYC regulations. This means that the industry will receive a much-needed confidence boost and will help to increase the  level of public trust in this new market sector.

Binance Relocates to Malta

As a result of Malta’s decision to support cryptocurrencies and related industries, an exciting announcement came just a few days later. Binance is the largest cryptocurrency exchange in the world and commands 10% of the global trading volume as well as having a market capitalistion of $1.3billion at the time of writing. Its founder Changpeng Zhao started Binance in July 2017 and in just a couple of short months, it has grown to be the market leader.

Following the introduction of restrictive laws in Japan and China regarding cryptocurrencies and exchanges, Binance was on the look out for a more welcoming and flexible home. On March 23rd, Binance announced their move to Malta and the crypto community rejoiced. Such a vote of confidence is a big deal for the small EU country and it is expected that such a move will encourage many other companies and startups to follow suit.

The Blockchain Boom

This time last year, most people had heard of the blockchain but only in the context of it being intrinsically linked to Bitcoin. Now, the technology has broken away from just monetary uses and has earned a lot of attention for its potential. In the last few months, more and more use cases have come to prominence at blockchain has found uses in industries such as logistics, healthcare, politics, real estate, and even crypto-powered beer vending machines. It has also been tipped to completely revolutionize the way we vote, as well as provide microloans to SMEs in developing countries and to solve the energy crisis in third world countries.

 

E&S Group is a leading corporate & 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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E&S Group Announces Participation in KSU Fresher’s Week 2018

Categories Tax, iGaming, Blockchain, Cryptocurrency, Malta, ICO Legal Service, Law, E&S Group, University, Technology, Tokenomics, DLT, KSU, Corporate Services

E&S Group Announces Participation in KSU Fresher’s Week 2018

As Malta continues to stride towards solidifying its reputation as the ‘Blockchain Island’, E&S Group is proud to announce its participation in the KSU Fresher’s Week 2018 at the University of Malta.

Held in between the 1st-5th of October 2018, the KSU Fresher’s Week gives new students the opportunity to meet not only each other but also businesses involved in the sectors they may one day wish to work in. E&S Group will have a stand at the event where students are invited to come and meet the team, network, make contacts for future internship opportunities, and learn about the range of services the company provides. Students will also be able to get their hands on merchandise and enjoy a range of games and competitions throughout the week.

E&S Group is a boutique law firm, located in the heart of St Julian’s. Whilst based in Malta, their client portfolio has a global reach across multiple sectors and disciplines. As Malta’s cryptocurrency and blockchain sector continue to increase, so does the demand for special legal professionals with an interest in these emerging industries.

Lawyers and accountants with experience and knowledge in ICOs, cryptocurrency, and blockchain technology are in demand, and as the sector is still in its infancy, this demand is set to grow exponentially. E&S Group is looking to inspire, educate, and develop the talents of potential digital market participants, as well as to attract the island’s brightest professionals to a sector that is set to revolutionise the local, and international economy.

E&S Group provides a range of services including ICO Legal Services, Corporate Services, iGaming, International Tax Planning, Financial Planning, Tokenomics, and more. If you are a student willing to work in one of these fields in the future, be sure to stop by the E&S Group stand to say hello!

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Four ways to optimise your ICO marketing

Categories Blockchain, Cryptocurrency, ICOs, Malta, ICO Legal Service, Smart Contracts, E&S Group, Technology, Bitcoin, Tokens, Wallet, Startups, Market, Exchanges, DLT

Four ways to optimise your ICO marketing

The ICO industry is currently going through an unprecedented boom which has seen the number of ICOs rise to a level never seen before. Despite the fluctuations of Bitcoin and other cryptocurrency prices, the interest from companies that want to use blockchain technology has not been affected.

This has resulted in a situation where hundreds of ICOs are all jostling for investors attention, meaning there is a whole lot of competition out there if you want to get a slice of the market. Even in the most saturated markets, there are still things you can do to get ahead of the game and your marketing prowess is what will ultimately decide if you get noticed and meet your fundraising objective. Here are four fail-safe techniques you can employ to help you do just that.

Pay attention to data

Data you hold on and about your customers can come in very handy when it comes to really optimise your marketing efforts. First of all, you need to be sure that you are targeting the right people at the right time to ensure that your project sticks in peoples minds. Utilise social media, news portals, adverts, emails, and forums, and you will be able to create a consistent presence that is immune to fashion.

Build a solid community around your project

There are lots of community-based platforms that you can use to create a community around your project- Reddit, Telegram, Twitter, Medium, Disqus, WhatsApp, and LinkedIn are just a few good examples. The most important thing to remember is that you are posting information, news, and striking up a conversation in places where your target audience is hanging out. Be sure to respond to questions and queries as well as just posting content and advertising materials. Remember, the more active your community is, the easier it will be to build trust and get more investors. By engaging with this community in the right way, they will spread the word about your product for you and yield a better response than just advertising alone

Use the best quality marketing materials

This is not a time to cut corners, particularly in an industry that has a bit of a trust problem. From your whitepaper to your logo, ensure that everything that you present to the public is of the absolute highest quality imaginable. If your marketing products look like they were put together overnight by a bunch of amateurs, then the chances are that they will refuse to invest a penny in your idea. From your emails to your website, content to graphics- even one typo could completely destroy any trust in your ICO and set those alarm bells ringing.

Entrust it to the professionals

Whilst it can be tempting to take care of the marketing bits and bobs yourself, unless you are a professional, it is better not to risk it. Hire someone with experience to write your whitepaper, getting a legal team to review your business plan, and ensuring that you are presenting a completely professional image to the public will save you a lot of tears, tantrums and money later on. Involving professionals from an early stage can be the difference between a successful project and a failed one, don’t wait until it is too late.

To find out how E&S Group can help you with every step of your ICO, contact us today by sending us an email on [email protected] or by calling us on +356 2010 3020

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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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