In the world of cryptocurrency and initial coin offerings, there are a fair few concerns to take into account. One of the problems holding back a lot of initial coin offerings is the question of whether they issue securities, assets, or tokens. It is pretty difficult to distinguish between the three as an investor. Byteball may have come up with a viable solution in this regard.
The Byteball ICO Platform
Finding a reliable platform to organize an initial coin offering is not all that straightforward, and companies providing ICO fundraising services will need to integrate solutions to address most of the legal repercussions. Byteball has seemingly done exactly that, as this investment platform continues to evolve at every possible turn.
More specifically, Byteball is launching a new tool which makes the organization of ICOs a lot more straightforward. Thanks to the integration of VerifyInvestor.com, the team is introducing an ICO platform which mainly targets accredited investors. This allows ICO projects to sell securities without any big problems, although it means they may not be able to attract thousands of investors.
One also has to keep in mind that most of the ICOs organized throughout 2017 are on the SEC’s radar right now. The US agency has made it their mission to crack down on any initial coin offering which may be considered to be a security token sale. It is unclear how many of these projects fit into that category, but there is still a lot of work to be done in this regard.
With governments all over the world also cracking down on ICO activity, a platform which vets accredited investors is a welcome addition to the ICO industry. It will avoid a lot of unnecessary friction and potential issues, although it remains to be seen how popular the Byteball platform will be in this regard. Having an additional way for companies to raise money through a platform which takes care of most legal matters is definitely worth exploring.
As one would expect, there is a small fee for having one’s accredited status saved in the Byteball DAG as an attestation. This fee is $79, and the money will be returned to the user as an attestation reward if he or she successfully proves their accredited status. That is a rather interesting approach, and one that will undoubtedly attract a lot of positive attention.
What is even more interesting is that this entire process is handled by a dedicated chat bot. This means users will have a relatively easy time completing this process, as most of it is completely automated. Bringing more accredited investors to the ICO industry can only be considered a good thing, as the industry direly needs more “legitimate” solutions.
