OiX: Financial Marketplace on Blockchain
Blockchain has changed the way the world did business. It is an opportunity to move to a more decentralized methodology for many industries including banking and legal tenders. While a lot is talked about the future of cryptocurrencies, not enough is discussed about where the phenomenon of Initial Coin Offerings is heading. It is a touchy subject as the industry that depends heavily on the acceptance of the ICO phenomenon will not like to cast doubt over its future.
At OiX, we are plain-speaking — ICO is dead and just needs to be buried. As the regulations take control of the blockchain token offerings there is going to be a paradigm shift in the way business is being done. Let us see how the future looks like both for companies that go ICO before the regulations set in and for companies that are still contemplating going for ICO as the regulations set in.
Companies that go ICO before the regulations set in.
Such companies will be subject to a great deal of scrutiny. Their books will be audited from the day they were created. Any discrepancy in the books will attract heavy fines. This will be an audit done for corporate practices — How is the board set up? Who are the independent directors? What is the director compensation method? How is the corporate governance structured? Is there an Investor relations initiative at the company? These are just few easy questions that will be asked. A lot of legal scrutiny will be done and all this will be done with the intent to fine the companies for every perceived infraction.
Companies that try to go ICO after the regulations are set in
The blockchain exchanges will no longer be the final authority of deciding if the token can be listed on their marketplace. All tokens will have to get a certificate of clearance from the Securities regulator of their own country. This will mean that most likely, unless you have a token that is irrefutably a utility token, you are going to be classified as a Securities token (9 of 10 tokens coming in the market today are securities tokens and utility tokens). So, essentially the offering will be classified as securities.
Regulations are imperative. They will set in whether we like it or not. The key to doing business with blockchain crowd funding today is to be ready for the regulations that will set in tomorrow. And to be honest, why would the regulators not step in when some unlucky investors in the world of ICOs are caught in the web of frauds and unrealistic ICOs.
When we talk about unrealistic ICOs, the role of regulators later and role of exchanges at the present time come into focus. Most of the exchanges are not interested in making any background checks of the promoters and the ideas that the promoter is proposing. Let us look at a scenario of an ICO for a social media platform. Someone raising just $5 Million for the whole work is setting themselves up for failure. This will not be sufficient for promotions when the social media site comes online let alone development and promotions. Such unrealistic ICOs are the ones that the investor will lose their money on.
Another issue that we are facing is the huge gap between the soft cap (minimum needed) and hard cap (maximum allowed). How can a company that needs $35 Million to operate work with just $3 Million and be successful? Such issues are what make the regulators worried. When you look at securities tokens these are the issues that you want to see get resolved.
OiX or ISO process in general, when adopted by any exchange, has the inbuilt mechanism where the exchange has to make all reasonable efforts to check the viability and approve the on boarding. This means a safer environment for investors to work in.
Is OiX a worthy Investment?
OiX is not just an exchange. It is a bouquet of Blockchain offering of which the exchange is but one part. OiX comprises of the following offerings:
1. Open Investment Exchange
2. OiX Government Cloud
3. OiX Identity Management
4. OiX Government coins (not for public consumption)
With its active participation in the government and regulatory discussions, OiX is truly a worthy investment. OiX is one of the best Blockchain Securities Exchange, if not the best.
OiX has found easy acceptance among the government agencies and talks are already on-going with a few emerging exchanges for adoption of ISO standards. The adoption of OiX Trust Network TM is already being initiated as a pilot and some provincial governments in Asia are keen on the benefits it offers.
The Success of any project depends largely on the team. When you look at the team of OiX, you will see that the team comprises of accomplished professionals who have a history of success behind them. Let us start with the education background of the team — the team has members educated at Chicago Booth, Penn Law, Harvard Law and Indian Institute of Management among others. As for their experience, they have worked at very responsible positions at McCann, JP MorganChase, Bank of America, PricewaterhouseCoopers among others. The team behind the platform consist of a team of highly trained cryptocurrency specialists. As knowledge leaders, they are deeply rooted in the blockchain technology and have already delivered an optimal and fully functional platform for trading.
Clearly, if you haven’t joined the OiX platform, either as a promoter or as in investor, you are ignoring the opportunity of a lifetime.
OiX Products in detail
OiX GOLD (TM)
High Net Worth, Sophisticated and Institutional Buyers
One of the primary reasons why ICOs have thrived is the restrictive nature of going public all across the globe. ICOs offer the opportunity of going public without spending too much on legal fees and documentation. Most of the time, this is not due to reluctance to do so rather due to lack of resources and knowledge. Similar challenges may be foreseen while going for ISO and not ICO. The lack of resources can become a reason why issuers plan an ICO and go unregulated.
OiX Gold is the solution to this problem. OiX gold is the platform which gives gives issuers access to a large pool of initial investors. Issuers will be able to pitch their idea to OiX pool of High-net worth, sophisticated and institutional investors and get their initial funding to invest in the process of Prototype and ISO.
Such a platform will be ideal for those who have a brilliant idea but not enough capital to take it public. They can pitch their ideas to investors who can get in on the ground floor and help the idea grow.
This is first such initiative by an exchange working in the blockchain domain.
OiX OPEN (TM)
OiX OPEN is the platform that supplements OiX Gold in the best way possible. OPEN Stands for OiX Professional Exchange Network.
Among the two most scares resources as we have outlined in the previous segment is the lack of funding to go public and the lack of right knowledge to structure a blockchain business. To tackle the first, we have the OiX Gold Platform and to tackle the second we have the OPEN initiative. Open is a pool of professionals like Investment Bankers, Stock Brokers, Investment Advisors, Legal Experts, Filing Agents and Influencers.
Through this platform, the issuers will be able to find the most capable professionals to guide their ICO and their ideas to success. Major exchanges have such pools but this is the first time that a blockchain exchange is coming up with a pool like this.
OiX Platform is an innovative ecosystem that helps both issuers and investors work in an effectively risk free environment that is backed by a regulatory oversight and strong KYC/AML Policy.
OiX Trust Network
OiX proposes eliminating the banks from the process of government transactions by building a trust network that does not need to execute a transaction until necessitated. This can be called a cloud based Blockchain I Owe You (IOU). Yes, the solution is as simple as this in its concept. This, however, is just one part of the solution. The key is to keep it secure and to make it work with optimum speed.
To this end, OiX proposes turning the blockchain solution on its head too. Instead of Blockchain based validation OiX is proposing blockchain based transaction ledger and a centralized coin based validation secured by a biometric authentication for transaction.
FOR MORE INNFORMATION
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Authored by Tymix12
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