Category: ICOs

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Is decentralised data the key to safer air travel?

Categories Blockchain, ICOs, Airline Industry

Is decentralised data the key to safer air travel?

Every year, the aviation industry creates unimaginable amounts of data which is then used to keep air travel reliable and passengers safe. One startup, AeroChain is launching a new protocol that will keep aviation data stored securely on a decentralised blockchain network.

At the moment, all data pertaining to aviation is stored by custodial figures who are responsible for sending the information to the relevant authorities and businesses. Of course, where humans are concerned, there is always room for error but by using the blockchain, this risk is reduced.

Introducing AeroChain

AeroChain will keep all recorded data on the blockchain and it will be only viewable to those that have been given permission. Storing data in a decentralised manner means that the issue of errors and delays can be negated when it comes to passing information onto other stakeholders.

In the future, AeroChain plan to expand their protocol to include more extensive and sophisticated data management and logging tools. The first application is set to be released this summer and it will focus on managing pilot certification data, plane maintenance data, and other datasets that are integral to keeping the skies safe.

Pilots are responsible for not just their own safety, but the safety of passengers, other aircraft, and of course those on the ground as well. This means that professionals that fly commercial airliners, right down to recreational pilots flying single-engine planes are responsible for the safety of many people.

An issue of compliance

The Federal Aviation Administration (FAA) sets out stringent requirements when it comes to the number of air hours that aviation students and pilots must undertake in order to acquire and keep their license.

A private pilot must complete 40 hours of airtime to get their license as well as competing in three take-off and landing cycles every 90 days in order to retain it. Pilots are also required to avoid flying more than a set amount, and the FAA sets weekly limits to prevent pilot exhaustion. At the moment, pilots are responsible for logging their hours and this is open to human error as well as fraud or the losing of important data.

Brooks Butler, the CEO of PSA Airlines noted that some pilots logbooks were off by over 20 hours in some cases meaning that there is a risk of unqualified pilots cruising the skies.

Another activity that needs to be immutably recorded is plane maintenance. A plane that either fails or misses a required check risks losing its certification from the FAA. At the moment, any time that a plane receives any maintenance, this is logged in the craft’s maintenance logbook. These books are not only essential for safety but they can have a drastic impact on the value of the plane, should the owner choose to sell it.

In 1992 in the midst of an aviation lawsuit, an example was given that a plane valued at $230,000 could only be sold for half the price as the logbook was missing. Likewise, mistakes in entries or data can result in engineers and mechanics losing their jobs or facing legal action.

What does the future hold?

AeroChain is poised to offer a range of decentralised solutions for both pilot and maintenance logbooks. Whilst they won’t replace traditional paper practices, they will facilitate more efficient data management for owners, pilots, and mechanics. For example, by updating a blockchain-based logbook, one can instantly share the current records with all required stakeholders. A blockchain-based logbook cannot be edited, deleted, lost, or changed in any way.

Blockchain also has the potential to serve as a foundation in the world of plane insurance or to assist in the process of commercial pilots acquiring charter clients. As the protocol of the application evolves, AeroChain plan to implement more and more uses for the software.

 

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

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$65 million raised by a startup to facilitate crypto trading

Categories Blockchain, Cryptocurrency, ICOs, Startups

$65 million raised by a startup to facilitate crypto trading

The start of 2018 has been a bit up and down when it comes to cryptocurrencies. Whilst December 2017 saw the value of various altcoins reach stratospheric new heights. By mid-January, all markets had lost a considerable amount of value. Despite this kick in the teeth, this did not do much to deter startups or investors. For example, one such crypto startup, Paxos has recently raised $65 million through various venture capital investors, proving that interest in the market is not slowing down.

Established as a big name

In its relatively short lifespan, Paxos has managed to establish itself as a pretty big name. The company specialises in bringing Bitcoin and other currencies into the mainstream, due in part to the fact they have obtained a trust company charter in the state of New York. This part of the states is not known as a particularly crypto-friendly place due to its BitLicense implementation, making Paxos’ achievement all the more significant.

The company started out as a Bitcoin exchange but since then, many things have changed. The main objective of its current business model, the company is looking to enter the world of crypto by exploring new trading options.

Significant interest from VC firms

This latest venture has attracted significant attention from VC firms and their recent round of fundraising was thanks to the help of RRE Ventures and Liberty City Ventures, amongst others. With this new funding, the company is now able to expand its operations and further develop its crypto exchange operations.

Whilst 2018 may not have so far been the year of Bitcoin, the overall outlook for its performance remain positive. Both consumers and enthusiasts are confident that things will change before the end of the year and the success of their recent funding round seems to support this. Afterall, cryptocurrency trading is still attractive, despite the fact it is still extremely volatile with big losses and gains occurring in equal measure.

This new financial injection means that the pressure is on for Paxos and enhancing and developing their position in the crypto industry will be a bit of a challenge. With regulations being introduced on a global scale, companies will be under pressure to adhere to a whole new set of rules. Whether this will be a hindrance to Paxos, or a benefit, is yet to be seen.

 

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

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The Importance of Legal Advisors in ICOs and Blockchain Projects

Categories Blockchain, Cryptocurrency, ICOs, Law, GDPR, Tokenomics, Tokens, Guest Post, White Paper, Know Your Customer, Anti Money Laundering

The Importance of Legal Advisors in ICOs and Blockchain Projects

GUEST POST BY The Tokener

 

Legal advisors are like the internet connection. When you have it, you forget about the importance of it. Once you lose it you find out all the things you can’t do without it. It is easy to forget about the importance of a good legal advice, so let’s try and recollect all the important things legal advisors do for an ICO.

Setting up an ICO is not an easy task. There can be a lot of bumps down the road so it is essential to make sure that everything runs as smooth as possible. Roadblocks in the legal area are one of the main problems most ICOs encounter. Any legal issue that ICO encounters is a huge red flag for potential investors. Because of that, the best ICOs have a legal department on point.

Reputation

World of ICOs and Blockchain is still pretty unregulated, because of that, it is easy to damage the reputation of an ICO. This can happen for a wide variety of reasons – from false scam accusations to the unclear roadmap, or token use. Having an experienced legal advisor can save you from these issues.

The legal advisor should be familiar with and present in every key aspect of an ICO, starting from the whitepaper. First, you need to decide terms and conditions of your whitepaper. Every piece of content in the white paper has to get the green light from the legal advisor. Keep in mind that courts, investors, and regulators rely on the whitepaper to understand how the project will work.

Token Model

The token itself needs to be verified by the legal advisor. With your legal team, you will need to decide whether your token will be considered a payment token, utility token or asset token. This is a very important decision and different choices can lead to different outcomes in terms of the project compliance with the regulations.

KYC/AML Evaluation

When all of that has been done, you will need to make sure that your ICO complies with all the possible regulations. The most important ones are KYC/AML (Know Your Customer/Anti Money Laundering) regulations which help ensure that your project is safe and secure from potential scams. It is not an easy work; it takes a lot of knowledge in order for everything to run smoothly. The Blockchain industry regulations are just starting to kick in, so it is best to have an experienced legal advisor on the team.

Intellectual Property Protection

Imagine that you prepared everything for the start of an ICO campaign. Suddenly someone accuses you that you stole their logo. You should worry about the project, but now you are stuck in the legal labyrinth. This is a disaster! Because of this, legal advisors are essential. They will make sure that all your domain names, trademarks, copyrights, trade secrets and patents will be protected and will be acknowledged as your intellectual property. These are not the thing you want to worry about when preparing an ICO launch.

GDPR

GDPR (General Data Protection Regulation) is another thing your ICO will need to comply with. Without this, your ICO can’t reach its full potential. Having a GDPR protocol is now considered a standard in the world of ICOs. All of this is in the realm of your legal advisors.

Conclusion

Getting a legal advice might be the best first step of every ICO project. It will ensure that everything is protected and in sync with the regulations. The creative potential of the founders will not be held back by unnecessary legal troubles that may pop up. Everybody involved in the project can focus on what they do best and not worry about regulations.

If you are looking for a legal advice for your ICO, the best time to get one was yesterday, the next best time is right now. If you have any questions please contact us at [email protected] or phone us on +356 2010 3020. Visit this link for further information regarding our ICO Legal Services. We are here for you!

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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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Doing business in Africa to be simplified using Bitcoin

Categories Economy, Blockchain, Cryptocurrency, ICOs, Bitcoin

Doing business in Africa to be simplified using Bitcoin

Despite what some of the critics say, Bitcoin has the ability to make a truly positive impact on the financial industry. A start-up called BitPesa is doing its best to infiltrate this tricky economy and to disrupt the African financial cycle by introducing Bitcoin-based solutions.

The African market is one of the global leaders when it comes to remittance transfers. Many Africans travel abroad for work and send a percentage of their earnings back home. This business has boomed over the last decade and companies such as MoneyGram and Western Union are leading the market across the board.

Remittance providers far from perfect

Despite their incredible popularity and slice of the market share, these remittance providers are far from perfect. More often than not, users need to travel hours to pick up their money and the fees that are associated with transfers can be expensive, especially to those in a third world country. In other words, the price that these people pay for convenience is quite steep and many have an issue with the fact that these firms are profiting from the desperation and poverty of millions.

This is where Bitcoin and other virtual currencies come in. The fact that cryptocurrencies don’t recognise borders and have no requirement for an intermediary means that they are a super cheap and efficient equivalent. Companies such as BitPesa are definitely in the right place at the right time but there are still challenges and setbacks that they will need to overcome before they can compete with the more established players.

Bitcoin paving the way

BitPesa uses Bitcoin as a way of settling between different brokers. Unlike fiat currencies, using Bitcoin can remove friction and offer a much higher degree of liquidity in the African market. By embracing the truly decentralised nature of this new technology, BitPesa is proving just how useful Bitcoin can be in the future.

Whilst the volatility of Bitcoin is something of a thorn in its side, there are certain African currencies that experience similar if not higher levels of volatility. The CEO of BitPesa, Elizabeth Rossiello recently stated how Bitcoin can be easily purchased and sold within a matter of moments and on demand. Due to this, the issue of its volatility is not such a big deal as many make out.

BitPesa aims to help out local individuals and businesses by using Bitcoin. By offering a solution to the friction that is traditionally associated with conducting business on the African continent. BitPesa certainty has their work cut out of them but the potential that Bitcoin and other cryptocurrencies have for Africa are too great to be ignored.

 

Interested in Learning More about ICOs Legislation in Malta? Contact us directly on +356 20103020 or by mail at [email protected] to find out more.

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South Korea bids to lift ICO Ban

Categories Blockchain, Cryptocurrency, ICOs, Law, Regulation

South Korea bids to lift ICO Ban

Eight months ago, South Korea rocked the crypto world by imposing a blanket bank on initial coin offerings (ICOs). In an announcement last week, the country’s National Assembly made an official recommendation to reintroduce domestic ICOs. This proposal is backed by the three-hundred-member national legislature, on the proviso that ICOs. will adhere to the relevant investor protection provisions.

A mass exodus of crypto-companies

The special committee of the National Assembly went as far as accusing the government of ‘neglecting its duty’ in responding appropriately to the blockchain boom, resulting in the mass exodus of domestic companies working in the sector.

The Assembly hopes to encourage and accelerate discussions on blockchain and ICOs and a legislative and policy proposal that supports ICOs has also been tabled. The committee on the 4th industrial revolution has also called on the government to form a task force that will comprise of public officials and private experts to “improve transparency of cryptocurrency trading and establish a healthy trade order”.

“The administration also needs to consider setting up a new committee and building governance systems at its level in a bid to systematically make blockchain policy and efficiently provide industrial support. We will also establish a legal basis for cryptocurrency trading, including permission of ICOs, through the National Assembly Standing Committee.”

A bill to legalise ICOs

This legislative effort first emerged after a group of legal experts and lawmakers, led by Rep. Hong Eui-Rak of the Democratic Party of Korea, began the process of drafting a bill that would legalise ICOs within the country.

“The bill is aimed at legalizing ICOs under the government’s supervision[…],” he said at the time. “The primary goal (of the legislation is helping remove uncertainties facing blockchain-related businesses.”

This turn of events comes after recent remarks from Korea’s financial watchdog who aims to focus on the “positive aspects” of crypto whilst suggesting that the government should relax cryptocurrency rules in the world’s largest cryptocurrency trading market.

 

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

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The Accounting Blockchain has launched its Private Placement – The Future of Accounting at your fingertips

Categories ICOs, Malta, Smart Contracts, E&S Group, Technology, New ICO - Accounting Blockchain

The Accounting Blockchain has launched its Private Placement – The Future of Accounting at your fingertips.

E&S Group is proud to announce that its client The Accounting Blockchain has launched its Private Placement.

 

E&S Group is pleased to be working with The Accounting Blockchain assisting them in this exciting project. The aim of this blockchain based platform is to incorporate smart contracts,  helping companies processing triple entries in the platform thus saving time and money. This project is tailor-made to match the current market of accounting software packages. In addition, The Accounting Blockchain came up with a solution for companies that need to invoice each other and how payments are processed through the supply chain reaching the end consumer. AB Tokens are issued to their clients, where they can enjoy savings provided by the platform.

E&S Group is proud to be advising and supporting this innovative project, incorporating blockchain and smart contracts guiding companies to the future of doing business through cryptocurrencies. To learn more about The Accounting Blockchain, please visit their website: https://www.theaccountingblockchain.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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What to consider when creating an ICO

Categories ICOs, Law, E&S Group, Technology, Tokenomics, Tokens, White Paper

What to consider when creating an ICO

Over the years, Malta has built up a solid reputation as a leading jurisdiction for iGaming, fintech, and financial services. With these foundations already in place, it was a matter of natural progression for it to become the new global home for ICOs.

In May of this year, the Maltese government announced three new acts that would seek to provide legal clarity and regulatory certainty for ICOs, virtual currencies, and blockchain technology and service providers. The move has been welcomed by the international cryptocurrency community and it has now put Malta well and truly on the map when it comes to those looking for a suitable place to launch an ICO. But what else should you consider before getting the ball rolling?

Create a whitepaper

You can have the best idea, the best team, and the best planning in the world, but if you don’t have a truly excellent whitepaper then your project is doomed before it has even started. As well as now being a legal requirement, the whitepaper will allow you to clearly and succinctly communicate your concept to those that are interested in investing in it. This is not a document that you can write yourself in a few hours, you need to enlist the help of a professional to ensure that not only do you include all of the required information but that you also tick all of the regulatory boxes. The document should include what problem the ICO offers a solution to, the vision, what the course of action will be, business issues, a full description of the product, and how it will be marketed. If the whitepaper doesn’t answer every question that potential investor might have, then it isn’t doing its job properly.

Consider ancillary services

Setting up an ICO is not just creating a whitepaper, advertising it on Reddit and then waiting for the funds to roll in- you need to consider things such as bank accounts, tax implications, company registration, legal advice, and more. For these issues, you need to enlist the help of a specialist within the jurisdiction the ICO will be set up in. E&S Group can offer you step by step assistance from A to Z.

Tokenomics

Having a great idea is just one part of the puzzle- knowing the intricate ins and outs of how the ecosystem will work is something a little bit complex. Having the correct tokenomics can make all the difference between a successful ICO and one that fails, so finding a suitable tokenomics advisor is a necessity. This skill set is not something that everyone can offer, but at E&S our team of financial experts, accountants, business advisors, and crypto specialists can guide you through the four main areas of consideration for creating the perfect ecosystem.

Attracting the right investors

Attracting the right investors is paramount to your success. Even the best ideas and projects will fail if they are not getting noticed by the right audience. There is a range of different ways that you can seek to publicise and market your ICO and knowing how to do it in a way which is effective and lucrative whilst still retaining reputability, is something that needs some professional input. From social media to specialist databases and PR to your marketing plan,

Are you legally compliant?

With new regulations due to come into force in Malta, adherence to the rules should be at the forefront of your business plan. Understanding EU requirements in terms of KYC and AML, as well as issues such as the classification of securities, is something that a specialist should be assisting you with. Ensuring that you are in full compliance with all applicable laws, rules, and regulations will save you many problems in the future, as well as enhance your credibility on the market.

Whilst the ICO sector is only a couple of years old, the professionals at E&S have already amassed a wealth of hands-on experience in planning, developing, executing, and marketing compliant and successful ICOs. Why not contact us today to see how we can give you and your project the boost that it needs?

 

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

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chiliZ has teamed up with Binance

Categories Blockchain, ICOs, Malta, New ICO - ChiliZ, Technology, Binance, esports

chiliZ has teamed up with Binance

Our client, chiliZ , announced that Binance is investing in their new tokenization platform which focuses on esports and other sports industries. chiliZ blockchain platform tokenises voting rights to their supporters of esports and other sports entities. This concept was inspired by the “Socios” crowd-management which Real Madrid and FC Barcelona came up with.

The video gaming industry is worth $110 billion, which is surprisingly bigger than the global film and music industry. It is expected that the video gaming space will adopt blockchain services thus accessed by more than 300mm esports fans. It is apparent that millennials, nowadays are knowledgeable and have a keen interest in virtual currencies and have experienced trading in digital assets. In fact, both blockchain technology and esports will reach millennials which are acquainted with both emerging technologies.

The chiliZ platform will start with esports teams and leagues. However, Binance and chiliZ will eventually work with the sports industry. They are also planning to develop a fan-driven token ecosystem for traditional sports teams, hence scaling the concept of “Socios” around the world.

Binance involvement with chiliZ is to provide the sharing of technical knowledge, innovation and creativity. Furthermore, this collaboration will help chiliZ delivering its platform globally.

Alexandre Dreyfus, chiliZ CEO stated that “Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision. I’m also excited that Binance is setting-up in Malta, where we will be able to share resources. Enabling a more strategic partnership.”

While Binance CEO & Founder Changpeng Zhao added “chiliZ is a creative way to embrace blockchain technology, aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate. We are thrilled to support the team behind the project, and to help make them a success.”

 

Are you looking for ICO Legal Advice? Click this link to know more.

 

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Getting to grips with cryptocurrency wallets.

Categories Blockchain, Cryptocurrency, ICOs, Wallet

Getting to grips with cryptocurrency wallets.

Over the last 18 months, cryptocurrency has gone from being an obscure technology found on the dark web, to one of the most exciting and disruptive digital technologies that the world has ever seen.

Getting a cryptocurrency wallet is the first step in starting your crypto journey but for newbies, the terminology can be a little confusing. What exactly is a cryptocurrency wallet? What different types are there? Why do I need one? In this article, we will take a look at the most common types of wallet and what they are used for so you can decide which one best suits your needs and requirements.

Hot wallet/ cold wallet

Firstly, all subcategories of cryptocurrency wallet can be split into one of two types- a hot wallet or a cold wallet. A hot wallet is one that is connected to the internet and it is the less secure of the two due to the fact it is vulnerable to hackers, malware, and other internet-related security risks. A cold wallet is a wallet which stores your currency offline and offers a higher level of security that its online compatriot. Most cryptocurrency users will opt for both a hot wallet and a cold wallet- the hot wallet for small day-to-day transactions, and a cold wallet for long-term holding of their coin portfolio.

Multi-Currency Wallet

There are currently almost 2000 different cryptocurrencies in circulation and as a result, the need for multi-currency wallets is increasing. Whilst some wallets are only compatible with one currency such as Bitcoin or Ethereum, multi-currency wallets can hold entire diverse portfolios in one, easy to access place. Some wallets also allow you to convert one cryptocurrency into another so you can store it within one wallet that supports one currency.

Online Wallet/Web Wallet

A web wallet is a cryptocurrency wallet that is typically accessed via your internet browser. These are available as specific websites or as integrated services in an online exchange but users should be careful not to keep too much currency in an online or web wallet. The reason for this is that as they are online and connected to the internet at all times, they are susceptible to hackers, and as such, they should be avoided and only used to transfer your currency into a more secure option. Whilst they provide the fastest way to complete transactions and can often manage multiple currencies at once, they should not be used for long-term storage.

Mobile Wallet

A mobile wallet takes the form of a downloadable application that resides on your mobile phone. It provides the user with access to their funds wherever they are, as long as they have access to their mobile phone device. Whilst they are one of the most practical and easy to use wallet types, the fact that they are on a mobile phone (not a particularly secure device) means that your stash becomes vulnerable should your phone become compromised, hacked, stolen or lost.

Desktop Wallet

This type of wallet is considered as a step up from web and mobile wallets as it does offer more security- as long as you use it properly. It can be used in two ways, on an active laptop which will provide some, but not a great level of security, or on an offline laptop which will provide a much more enhanced level of security for your coins. There are several ways you can choose to use a desktop wallet; firstly you could download the application onto a pendrive and install it on a “never been kissed” laptop (one that has never been connected and is not connected to the internet) for a super-secure offline storage method. The second option is to ensure that you have cutting-edge anti-spyware, virus, and malware protection on your computer and ensure you adhere to all security best-practices when you use the software on your computer.

Hardware Wallet

Whilst they may not be the most user-friendly wallet when compared to web and desktop wallets, they are extremely secure as well as being more convenient as well. Similar to a USB stick, they can fit in the palm of your hand and often feature a LED screen and buttons so that you don’t need to use the computer to input your passcode, or private keys. These are by far one of the best ways to long-term storage of large amounts of cryptocurrency for those that still want to be able to gain access to their coins at short notice.

Paper Wallets

Before hardware wallets became popular, paper wallets were the defacto method for the cold storage of cryptocurrencies. Whilst they are completely immune to hackers due to the fact that they are made out of paper, they require a huge amount of effort to move cryptocurrencies around and they also command a higher level of technological understanding. It is not as simple as printing off some numbers or a QR code- ensuring you know how to create, and properly store your paper wallet is the key to its success. For those that are not well versed in the world of cryptocurrency, we would advise steering clear of this cumbersome method.

 

Interested in Learning More about ICOs Legislation in Malta? Contact us directly on +356 20103020 or by mail at [email protected] to find out more.

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