ICOs, or Initial Coin Offerings, are a new and interesting way to raise money for a start-up or business-one of the reasons they are so interesting is because they have the potential to raise millions of dollars, but few consider investor protection, due diligence, and regulation compliance.
Contrast this to banks, who spend 10% of their yearly gross revenue on AML compliance alone. The bottom line is that while regulatory compliance isn’t easy or fun, it is also not optional. iComplyICO hopes to make that a bit easier for their clients by offering a customizable, automated compliance platform for ICOs. The iComplyICO platform is based on an open protocol that can handle both the initial issuance and secondary trading of tokens across multiple blockchains.
There are two parts to the platform–first is a zero-knowledge proof that allows ICOs to see that purchasers have passed AML/KYC requirements, but don’t show all of the purchaser’s information.
The second part is a secondary trading piece that can keep an ICO compliant by creating a geofence for where tokens can be resold. Also discussed is the future of AML/KYC compliance. iComplyICO is also accepting applications for companies looking to create AML-compliant ICOs.
For more information, visit www.icomplyico.com.