When the time of the Pre-sale and ICO is quickly approaching, it is vitally important to have just the right ICO guide and full legal support.
Below are three key ingredients.
- Due Diligence
Everyone needs a piece of advice from time to time, and for this reason we address skillful and experienced people who’ve already been through what we aim for today. We’d like to inform you that for the time of the ICO BitRent’s Team gets bigger. We welcome George Alex Popescu, serial entrepreneur, as our ICO Advisor.
George sold and exited his most successful company, Boston Technologies (BT) group, in 2014. BT was a technology, market maker, high-frequency trading and inter-broker broker-dealer in the FX Spot, precious metals and CFDs space company. George was the Founder and CEO and he boot-strapped from $0 to a $20+ million in revenue without any equity investment. BT has been #1 fastest growing company in Boston in 2011 according to the Boston Business Journal and the only company being in top 10 fastest in 2012–13 as it was #5 in 2012.
George has a huge advisory expertise in ICO. He has already helped numerous projects to launch successful ICO projects and currently he’s known as the advisor of the these projects: Alt-Options LLC, Gatecoin, Firstblood, Airfox, DropDeck Technologies JSC (ICO launching soon), Well, Inc., Factury, Inc., Restart Energy, Opiria and more.
By the way, George has already started fruitful cooperation with BitRent by holding a Roadshow for BitRent Team across Asia. You may find more information on the Roadshow here.
Due diligence is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records, plus anything else deemed material.
In the investment world, due diligence is performed by companies seeking to make acquisitions, by equity research analysts, by fund managers, broker-dealers, and of course by investors. For individual investors, doing due diligence on a security is voluntary, but recommended. Broker-dealers, however, are legally obligated to conduct due diligence on a security before selling it. This prevents them from being held liable for non-disclosure of pertinent information.
Quite recently, BitRent has got in touch with JUSCUTUM Association to obtain necessary legal and audit support on the eve of the ICO.
JUSCUTUM is the first company in Ukraine to provide legal services to start-ups in exchange for an option. The history of Juscutum started with two people in 2008. Now, there are more than 50 people in our team, and we continue growing. The mean age of Juscutum team is 35 years. The average group IQ coefficient of the team is 127. In 2015, Juscutum was ranked among the top five legal firms in the fields of IT and business security. Juscutum operates in accordance with the “green office” principle. Juscutum is the first legal firm in Ukraine to accept Bitcoin payments. Juscutum launched the first legal-service mobile application in Ukraine — the Juscutum Legal Alarm. Professional liability of Juscutum is covered by insurance.
This law association has entered into legal partnership with real estate project — Propy. This company operates on Blockchain and Smart Contracts to provide safe deals for those who sell real estate items. Justucum has provided full legal and audit support for Propy during their ICO. Needless to mention, Propy managed to rise $15 million and now they are regarded as one of the most exciting real estate Blockchain opportunities.
For now, Juscutum gave findings on the legal design of BitRent (RNT) token based on business model of the project. The law association also consulted BitRent on compliance with new AML/KYC requirements.
According to Juscutum’s opinion, there are three main functions of RNT token:
- RNT token function is to provide an access to the BitRent base and transaction system;
- RNT token is a payment instrument inside of the platform that is meant to pay premium services of BitRent platform;
- RNT token opens the door to becoming a direct participant of eco construction. This is due to implementation technologies like RFID and BIM into the multifunctional platform. These technologies allow platform participants to track and control construction performance at every stage of the process.
Escrow means that you’re using a “third party” (somebody who is neither the buyer or seller) to hold something of value, which helps to make your transaction safer.
Ideally, this would be a disinterested (or neutral) third party — who doesn’t care whether the buyer or seller comes out ahead. The job of an escrow service is simply to ensure that everybody sticks to their end of the bargain.
BitRent stays in touch with Crypto-Lawgroup US-based law firm that consults our company on legal issues of RNT token. BitRent aims to provide its clients with maximum security when making deals.
Currently, Smart Contracts and Contract Address Wallet based on blockchain Ethereum act as our Escrow.
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