Bitcoin, Crypto currency, Blockchain

The Crypto Startup School for the own ICO

During the year 2017 flows of massive Money in ICOs, has slowed down the Hype now. Nonetheless, many of the deal with the new way of capital collect. All the relevant information for the Frankfurt School of Finance & Management, is compressed into a week in the Crypto Startup School the Frankfurt School Blockchain Center.

“ICO Acceleration In One Week”

The mood is a Mix of curiosity, enthusiasm, and caution. The word “Blockchain” has made it into the established companies and it is clear to all that you have to deal with this issue. Finally, you can do with the Blockchain a lot of processes more efficient and leaner. This saves on costs. Especially the ICO come out as a new method for Startups to capital, excited a lot.

Bitcoin is interested here hardly anyone. In the lectures, one speaks again and again of the “traditionalists” and “Bitcoin whales”, however, in the context of “How can I inspire these people to my ICO?”. Decentralization is fine, but not if it means the loss of control. As Paul Kammerer from the DLT Lab, Commerzbank said, you want to the Blockchain (rather, DLT) for the creation of new platforms, the existing processes to improve and reduce risk.

Technology vs. Regulator

The respect for the Regulator is clearly noticeable. You want to try out, finally clear of the whole fraud of the ICO-world distance. In order for institutional investors to give money, you must have the ICO project legitimacy. For this you have to take care of the Compliance and in case of doubt, to be very thorough with the statutory obligations. As the representative of ICONIQLAB is proud declare, let every Investor a KYC process with IDNow go through and also the tax return a model filled in. Who wants to start a ICO in Germany with a German Bank account, you must go on the safe side. Money laundering is a serious accusation.

Dr. Luka Müller-Studer, one of the Legal-Blockchain-experts from the German space, stressed, however, yet another Problem. Everyone is taking care of the financial regulation, however, they don’t care whether the Token actually works. So he hits the nail on the head, are all ERC20-Token of the parent Blockchain, Ethereum, depending on the. Furthermore, the technology is developing so fast that the Regulator is always at least one step in the delay. The original meaning of the law must be understood and you should find a solution to, rather than in the bureaucratic jungle.

The technology must fit. Dr. Matthias Hirt Schulz expressed to the many technical Details of ICOs. For example, as an automatic ceiling for a Seed-round implement. Above all, however, is how to protect yourself against attacks – he had never seen the ICO, which was not attacked in any Form.

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Conclusion

Paradoxically, it quickly becomes clear that still much is unclear: The technology is new and too little understood “the Blockchain” in Detail. Regulations are, if at all spongy, in addition, the legislature differs in the individual regions. So you should have as a ICO-company account in Liechtenstein and only the operational business in Germany.

What is clear is that you have to deal intensively with many facets, if you want to make a serious ICO project on the legs. You gathered on the best a competent Team. The Crypto Startup School is trying to support an emerging need of the market.

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