OiX Project Launches the First Platform for ISOs Initial Securities Offerings
OiX Project Launches the First Platform for ISOs Initial Securities Offerings
Global Blockchain Start-Up Launches a More Compliant ICO Called ISO (Initial Securities Offering); With Their Exchange Already Live in Alpha Mode, They Are Actually an Operational Business as Opposed to Just an Idea Waiting for Funding to Go Live; The Company Is Offering a Platform Where, in the Form of Securities, People Can Invest in a Verified Company as Opposed to One that Hides in the Shadows
WASHINGTON, DC / ACCESSWIRE / March 19, 2018 / The biggest conflict between the blockchain start-ups and various governments across the world is the way that ICOs are structured, without any safeguards for investors. There has been a lot of pushback from the traditionalists calling ICOs fraud, Ponzi schemes, among others. This has severely limited the reach of the start-ups in getting funding.
Open Investment Exchange (“OiX”) has been working on this issue with various stakeholders across the globe over the last year and has come up with a new paradigm called ISO (Initial Securities Offering) that will find easy acceptance with government bodies and will bring blockchain start-ups to the mainstream. Any user can register and log into their exchange, www.oix.global, which is already up and running.
Banking and security expert and founder Santos Sinha outlined his vision for the venture and the blockchain start-ups by stating, “We, as an industry, understand that structuring our tokens as securities will not be for everyone. Not all blockchain start-ups are going to be listed as ISOs and the ICO industry will continue for as long as all the governments do not end up banning them. You have to realize that just because an asset is on a distributed ledger does not mean it is exempt from security laws, and this is exactly what governments around the world (and SEC more so in the US) are claiming. Considering that they have the last word in the matter, what is wrong with structuring all blockchain funding effort as securities starting right now? We are not in the market to cheat the investors, are we?”
Unlike other exchanges that list ICOs without much due diligence, OiX will be discerning within reason while listing tokens on their platform. This way, any investors that come on OiX to invest on a listed SecureBlock token can rest assured that they are investing in a company that is not hiding in the shadows. Securities regulators around the world have been escalating their activities in order to catch up with the blockchain innovations while fulfilling their mandate of protecting investors.
Their platform is built on ERC-20 specifications. The trading platform based on Ethereum Blockchain using standard ERC-20 contracts aims to improve and modernise its automatic trading platforms using Blockchain technology and to ultimately share the benefits with the community.
As the company is working on the guidelines of regulatory authorities in major countries, they are also coming up with OiX Government Cloud, (https://www.oix.global/oixgc/) which offers its services to government entities as they transition their transaction records on blockchain infrastructure.
In order to ascertain the acute need of a platform like OiX, let us look at how various major countries stand when it comes to Blockchain tokens:
In the United States, on the 6th of February 2018, SEC chairman Jay Clayton stressed that all ICO token were securities and, therefore, will be subject to the law. German authorities have indicated a willingness to follow guidelines from the European Securities Market Authority. Under the existing law, ICO tokens qualify as securities and, therefore, need to be regulated. ICOs are still allowed in the EU, but they must adhere to AML/KYC policies. Future regulations will apply. Canada still allows ICOs in the country but has formed a regulatory sandbox for the FinTech industry. All ICOs are placed under the stipulated regulations. They are likely to announce that only those blockchain tokens are allowed that are structured as securities. The Israeli Securities Authority has commissioned a study to find the best way to regulate the industry. Even in Israel, the talks are on for securities as the standard for Blockchain tokens. The authorities in Australia have said that ICOs must comply with the Corporations Act and that they have to issue all disclosure documents concerning the ICO. The Philippines Securities and Exchanges Commission will require ICOs to register with the SEC, as they are considered to be securities. Even in Singapore, the country’s central bank has issued guidelines on ICOs, which states that the ICO tokens will be under the securities laws.
OiX is uniquely placed to take the regulations head-on by providing regulatory advisory services to those planning on bringing their token as securities. OiX will also provide landing page solutions for those planning to come up with ISOs and listing on their exchange.
With their exchange already live in alpha mode, they are actually an operational business as opposed to just an idea waiting for funding to go live.
For further information, please contact:
Visit https://oix.global to access more information about the company.
SOURCE: Open Investment Exchange oix.li
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