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ICO Origin - Business - Legal - Tech


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ICOs have surpassed $1bn in raised capital in the first half of 2017 and the pace does not seem to slow down despite legal controversy, multiple cases of theft and absence of conventional business models. While, conclusions of whether ICO is a hype, bubble or a viable form of raising the capital are outside of the scope of the workshop, we will discuss the business aspects of it - what are the types of business that attract funds through ICO, what are the types of tokens to issue and related legal risks. What are the jurisdictions that support tokenisation and average costs and timeframe for legal structuring. For the illustration of technology challenges, the case of made in Latvia Tierion ICO platform raising $25m in 30 hours will be presented, while business model and legal aspects will be highlighted using Publica - one of the first companies in Latvia planning an ICO.

Published in: Business
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ICO Origin - Business - Legal - Tech

  1. 1. ICO Origin - Business - Legal - Tech Antons Sapriko, co-founder, COO, founder and CEO
  2. 2. Agenda ● Origins - 5 minutes ● Business - 10 minutes ● Legal - 5 minutes ● Tech - 5 minutes
  3. 3. Origins ● Immutable, public, trust by design, synced, decentralised ● Blockchain 2.0 - Turing complete code and “smart-contracts” ● Mapping or a simple Array (your_address, number_of_smth) ● From simple funds transfer to purchase of something ● Transferability (ERC20), thus tradability ● Instancy of emission of “something”
  4. 4. Business - Tokenisation of … On-chain - Utility - Security Off-chain - Utility - Security
  5. 5. ICO Business Process - Business model, why token will grow - white paper - Token “status” - Team + Advisors - Media plan, reach out, traffic acquisition, from FREE to $50-200K - Technology - from DIY to $50-100K - Pre-sale / rounds / full ICO / distribution structure - 40/40/20%
  6. 6. Legal ● You got $10m in cryptocurrency, what next? ● Bank account? Is it sales with CGS being close to zero? Is it equity funding? Taxable event? ● Security? Licensing law violation? ● What is the origin of funds? KYC/AML. ● Why US citizens leave US e.g. to Cayman Islands during ICO? ● Singapore or Switzerland? BVI, Cayman? From DIY to $40-80 with MME.CH and 0.5% of ICO with some other
  7. 7. ICO Technology ● I sent money to your account, where are my tokens? ● Unique BTC addresses and hashes for ETH transactions + target ETH ● Etherium high-load management Security ● xPub / PHP script / MySQL with pre-generated BTCs ● Smart-contract binary ● Drop beneficiaries DB ● DDoS and show “mirror” site
  8. 8. What did I miss? Q & A