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Partnership Announcement Between TurnkeyLedger and the ICO Charter

After exchanging a series of emails for few months and meeting in Malta Blockchain Week Summit with Laurent Leloup, we are thrilled to announce we have teamed up with ICO Charter.

ICO charter is a charter that offers propositions for self-regulation rules for the ICO ecosystem.

In case you’re wondering what does ICO means, Initial Coin Offering or ICOs are a new way to fund projects through the sale of digital tokens, the cryptocurrency version of crowdfunding.

Though, before funding these projects, there are some points, or you may even call it some regulations that must be taken into account.

Therefore, ICO charter strongly believes that a European ICO “manifesto” is needed to create best practices in this exciting innovation that enables projects to combine resources in a regulatory-free framework.
This charter seeks to establish and build a better harmony in launching ICOs practices.

The charter contains 11 approaches that must be respected in order to launch an ICO project:

First, all information about the ICO project must be provided, means a detailed presentation of the ICO project, detailed information on the team, market, product and legal entity(ies) sponsoring the ICO project. A complete white paper, a clear roadmap for the ICO project, etc.

Second, an independent legal review of the ICO project and its issuer is also needed.

Third, the white paper features, which means a brief description of the ICO project, its business plan, the amount of cryptocurrency sought, the technical presentation of the project, risk disclosures, warnings, and disclaimers, etc.

Fourth, an ICO Smart Contract code is needed, and technical specifications detailing the Token delivery process and its subsequent impacts.

Fifth, KYC or Know Your Customer that refers to governmental regulations designed to prevent money laundering, financing terrorism and other crimes involving money, that requires Passport, ID card or any form of State issued ID document for a physical person. Legal instruments of a legal entity with authorized signatory officers and Tax-residency of the investor must be checked.

Sixth, Tokens and Cryptocurrency raising process must be mentioned; it includes the disclosure of fees in tokens paid to advisors, the traceability of all crypto transactions, the disclosure of all expenses used for and during the process of the pre-ICO and actual ICO, etc.

Seventh, the use of ICO proceeds, that involves the process of cryptocurrency proceeds’ restitution in case the ICO target amount is not reached. Creating an ICO Escrow wallet for cryptocurrencies and last, determined rules and conditions must be respected for releasing the proceeds to the ICO project.

Eighth, ICO Safety & Security, that requires an ongoing presence of an Information Technology supervisor, to monitor the ICO website, hacking, and the correct bugs.

Ninth, consenting to a third party audit to better measure the risk of the project.

Tenth, post-ICO must be included, means the disclosure of the ICO process and its history with outcome and results. The revelation of market places where newly issued ICO tokens are traded, and the aftermath of the ICO project by which regular updates are provided to the community.

Eleventh, all the laws of the listed states must be committed to.

Partnership Announcement Between TurnkeyLedger and the ICO Charter
Turnkey Ledger is one of the signatories of the ICO charter and has promised to respect and go by these approaches.
We are proud to join a group of major European players that agreed to follow the ICO charter such as Deloitte and Baker McKenzie.

This partnership can strengthen our ties with the Blockchain community to create an economy that rewards developers who build and support applications that the world uses on the web.

Source of the article:

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Chaineum - Conseil haut de bilan & stratégie blockchain
Fondée en 2015, Chaineum est un cabinet de conseil en opérations de haut de bilan offrant une expertise de premier plan en matière d’ICOs et STOs, avec une vision stratégique orientée tant vers le métier de ses clients que sur la technologie blockchain. A ce titre, Chaineum a participé à la mise en œuvre de bonnes pratiques dans le secteur (ICO Charter, Security Token Network).
Besançon - Paris + réseau international de partenaires.

About Chaineum
Founded in 2015, Chaineum is a leading corporate finance advisory firm with a strong expertise in ICOs and STOs, and a strategic focus on both its clients' business and blockchain technology. As such, Chaineum paved the way in the implementation of certain best practices in this sector (ICO Charter, Security Token Network).
Chaineum Segment, Chaineum's blockchain services division, is developing Chaineum Segment technology, an object-oriented private blockchain.

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Vendredi 21 Juin 2019