Let me announce the project called TokenCab.
It is the Digital Assets Governance and Brokerage Platform.
ICO is becoming a popular method raising investments for dynamic startups that may have already formed a community of potential users. During a typical ICO company or project (issuer) is distributing some digital assets (tokens) which are sold to its target audience (investors). Usually, funds raised during an ICO are used to fund further development of its product or service, while users receive a tradable asset in return.
ICO boom has also created some challenges: many of ICOs are simply scam, others do not have regular interaction with their token holders after the ICO has been conducted.
We at TokenCab firmly believe that there should be more transparency and responsibility for companies doing ICOs. We would like to set a new standard for ICOs with TokenCab, which will provide not only technical platform for setting up and running a crowd sale, but will also a comprehensive ecosystem of partners who will provide complementary legal, advisory and consulting services to ICO issuers and investors.
We want to make preparing and running an ICO for legitimate companies as easy as calling an Uber from your smartphone.
Definitions:
- ICO — Initial Coin Offering — a method of raising funds by distributing digital assets (tokens) among investors. It is also often called a Token Crowdsale / Tokensale, sometimes Token Generation Event (TGE). Hereafter, we will use these terms interchangeably.
- Issuer — an entity that is issuing a token (digital asset) during an ICO. Strictly speaking, it is not completely correct usage of the term from a legal point of view, however we will use this term hereinafter in order to simplify analogy with an IPO (Initial Public Offering).
- Investor — an entity that is acquiring a token (digital asset) during an ICO. Strictly speaking, it is not completely correct usage of the term from a legal point of view, however we will use this term hereinafter in order to simplify analogy with an IPO.
Legal Aspects:
As the number of active ICOs continue to grow, many issuers will need to address certain legal issues, including:
- How to comply with legislative requirements of a particular jurisdiction when raising money?
- How to document properly the results of distribution of token among the investors?
- How to establish and control interaction between issuer and investors?
To answer such questions, you would probably proper legal framework or professional legal advice in addition to a technological platform as a tool for effective communications between project participants. When creating such platform, we are targeting the growing market of legitimate ICOs.
However, if you are planning an ICO for a project that does not have any legal issues and does not require complicated legal paperwork, our platform provides an easy-to-use solution for you.
Until there is a clear regulation in place, all interactions between an issuer and investors are set forth in a special document (whitepaper) published before an ICO. It may include the following aspects:
- Degree to which investors can influence the project management
- Transfer of Intellectual Property (IP) rights
- Dividends payout terms
- Loan principal and interest payment terms
- Token buyback terms
- Term of circulation of token on an exchange
- etc.
We provide a platform for running an ICO regardless of the complexities of legislation requirements in each particular case. We will build a network of partners who will be able to provide professional legal services to match requirements in a specific country.
We will provide a baseline standard for structuring an ICO and advise what further steps an issuer should take to prove to investors its plans to develop the project in good faith.
The Market:
The number of ICOs and their proceeds are increasing dramatically. It is expected that the total volume of ICOs in 2017 will exceed 1 Billion USD. At the same time, share of Venture Capital (VC) funding of into startups is decreasing, and share of ICO funding is growing (see diagram below, source: CB Insights).
Overall, ICO market is starting to become more mature. There are not only geeks here but also serious players who require professional approach and legal compliance.
There is a growing number of projects. At the same time, there is a growing share of low-quality projects and fraudsters, or scams.
We would like to fix that by increasing responsibility and improving the process of an ICO, as well as further interaction between an issuer and its investors.
There is growing demand for moderation and regulation. Significant investments are flowing into segments that do not have potential legal issues. Many countries are starting to develop regulation for ICOs and our platform will be integrated into those regulations.
Most existing tools are developed primarily with a goal of supporting ICO event itself, after which token holders will have to deal with an issuer directly. This could easily become a headache for both token holders as well as an issuer.
We are seeking to create a mechanism that will allow to continue proper interaction between an issuer and token holders, and to support these processes during the entire lifecycle of a project.
Social Media:
Please follow us on social media:
- Facebook: https://www.facebook.com/tokencab/
- Twitter: https://twitter.com/tokencab/
- Slack: http://slack.token.cab/
- Telegram News Channel: https://t.me/tokencab
- Telegram Community Group: https://t.me/tokencaben
- Medium: https://medium.com/tokencab
- Bitcointalk: https://bitcointalk.org/index.php?topic=1977396
- TokenCab in English: http://token.cab
- TokenCab in Chinese: http://cn.token.cab
- TokenCab in Spanish: http://es.token.cab
- TokenCab in Russian: http://ru.token.cab