Category: Tokenomics

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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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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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E&S Group at Tokenomics Conference at Tallinn University, Estonia.

Categories Blockchain, E&S Group, Tokenomics Conference, Tokenomics

E&S Group at Tokenomics Conference at Tallinn University, Estonia.

E&S Group Director, Dr Christian Ellul is participating in a Tokenomics Conference in Estonia. This event is going to take place on the 23rd and 24th May at the Tallinn University. The conference will be solely focused on discussing the token-based economy.

Experienced blockchain leaders will be discussing important issues, such as how and where the status quo can be affected by the token-based economy. The audience will have the privilege to understand the subject in more depth. Blockchain professionals will explain all stages of token circulation, which is set on three important stages. These stages begin from emission stage, then it moves on to token listing on one of the blockchain exchanges and ends with token growth or downfall.

We hope to see you at the Conference!

If you require legal advice on blockchain, crypto, ICOs and tokenomics, E&S Group is here to help you achieve your dream! To know more about E&S Group success please visit our website www.ellulschranz.com for further information.

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