CoinOffering Uses Smart Contracts To Issue Company Shares As Ethereum Tokens

Many exciting things are taking place in the blockchain ecosystem right now. CoinOffering is the first company that will issue its shares as Ethereum tokens. This Marshall Islands-registered company is not confined to the online space either, as they operate in the legal field as well. Additionally, other companies can use their service to use Ethereum smart contracts for various corporate functions.

CoinOffering Is Keen on Ethereum Smart Contracts

Although smart contract technology is still in its infantile stages, one company has decided to take the plunge and base their entire business model on it. CoinOffering, registered in the Marshall Islands, will let other corporations use their service to issue shares as Ethereum tokens. This service can also be extended to paying out dividends and voting on important business decisions.

Using a smart contract is all about transparency, and CoinOffering made their code publicly available. Interested parties can check out the documentation on GitHub, and even create their own version of contracts using these fundamentals. The company will offer technical and legal support for anyone who wants it.

CoinOffering CEO Ivan Starinin explained his vision as follows:

“CoinOffering is a real revolution in the blockchain world. We have managed to do something many other companies had tried to achieve – to bring together the legal and the technical worlds. Buying the tokens, you are purchasing real shares in the enterprise and receive all shareholders’ privileges. We make IPO for businesses cheaper and offer extensive possibilities for crowdfunding on a unique exchange.”

The possibilities when using smart contracts are virtually limitless. They also make sure corporate aspects a lot more efficient and transparent for all parties involved. Buying and transferring company shares, for example, can be executed instantaneously when using this novel technology.

But CoinOffering is already looking towards the future and how they can expand their platform while doing so. Right now, plans include launching a trading platform where companies can raise money. Based on the information we have received, this platform will support both angel investments and crowdfunding.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.