Jimmy Wales: Wikipedia Is Never Conducting an ICO

wikipedia will not hold ICO

The founder of Wikipedia informed Business Insider that the world’s largest Internet encyclopedia will hardly ever have a token sale of its own. To be exact, his words were:

We are absolutely never going to do that. Zero interest.

The entrepreneur has always considered ICOs quite doubtful, since the vast majority of them turn out to be scams that steal all the investments from gullible users or just prove to be absolutely useless. However, Wales has another opinion on blockchain. He called it an “interesting technology” and does not rule out its possible implementation into Wikipedia.  

Meanwhile, not everyone shares the vision of Jimmy Wales. We remind you that new innovative ICO projects are launching on a regular basis.

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Two European Finance Regulators Urge the EU To Adopt Crypto and ICO Rules

Cryptocurrency and ICO regulations have been an open topic in Europe for quite a long period of time. Some finance regulators claim that it is high time the European Commission determined the place of crypto and ICO in European economy.

The European Banking Authority (EBA) stated that the current crypto asset-related activities did not comply with the EU financial laws, so that The EBA urged the EU to look into the crypto rules and identify what actions may be required at the EU level.

The representative of the EBA said:

“The EBA’s warnings to consumers and institutions on virtual currencies remain valid. The EBA calls on the European Commission to assess whether regulatory action is needed to achieve a common EU approach to crypto-assets. The EBA continues to monitor market developments from a prudential and consumer perspective.”

Moreover, the EBA advised to use the FATF’s recommendations. The Financial Action Task Force (FATF) is to issue a set of recommendations for crypto-related action in June 2019.

Another finance regulator, which supports the EBA, is the European Securities and Markets Authority (ESMA). It released a report which helps the authorities of the EU to make decisions on rules applied to crypto and ICO.

The spokesman of the ESMA said:

“Our survey of NCAs highlighted that some crypto-assets may qualify as MiFID financial instruments, in which case the full set of EU financial rules would apply. However, because the existing rules were not designed with these instruments in mind, NCAs face challenges in interpreting the existing requirements and certain requirements are not adapted to the specific characteristics of crypto-assets.”

We remind you

Seven EU Member States United To Adopt Blockchain In Their Countries

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What is STO and Why Is It Going to Replace ICO in a Near Future

During the last couple years the crowdfunding market began to develop rapidly. ICO or initial coin offering – is not only a very convenient way of raising capital for further project’s development, but also a very profitable investment tool. But there are many troubles on this market, which need a solution. In this article we will talk about a new type of crowdfunding on the cryptocurrency market (STO), find out how it differs from the ICO and what is its future.

1. The main problems of ICO

So as it was mentioned before, the ICO reputation suffered during 2017 – 2018 years. The sad statistics indicates that the vast majority of cryptocurrency startups that conducted public ICO, failed. There are many scammers on this market, whose activities are aimed only at personal enrichment. In 2018 general investments in ICO amounted to more than 18 billion dollars, and by the end of the year all projects brought only losses and frustration to their investors. Because of this, the regulators began to actively monitor start-ups that raise their capital through crowdfunding.

Users can purchase two types of digital assets in a process of participation during initial coin offering:

  • Payment Tokens. They can be used to pay for different goods and services, offered by a company- issuer.
  • Utility Tokens (or useful tokens). They allow using some specific services, offered by an issuing company.

It is very important to understand, that possession of the above mentioned types of assets does not provide an investor neither with influence on the destiny of the company (for example to participate in the voting of shareholders), nor with protection of his rights. The fact is that payment and utility tokens are not equal to securities or stocks.

2. What is STO?

It worth noting, that there is one more type of tokens – Security Token. This variant of assets is very similar to traditional stocks, to which everyone has already managed to get used on stock markets. The main feature of this type is that their owners, in fact, have the right of ownership of a certain share of a company. Such kind of investment is fully protected by regulators. It means that company’s failure to fulfill financial obligations to its investors will entail legal proceedings.

Many experts note, that STO will replace ICO on the crowdfunding market. The matter is the best features of ICO and IPO were united in this investment tool. STO got that level of security, which IPO has, and also the relative simplicity and accessibility that is inherent to ICO.

3. Who can work with STO

SEC has developed rules for investors who wish to participate in STO.

  • An investor must have net worth of $1 million. It is worth noting that this amount does not include the market value of the investor`s real estate in which he lives.
  • The investor should have net income of 200 thousand dollars a year. If we are talking about a married couple, their total annual income must be at least 300 thousand dollars a year.
  • If we talk about an organization, its net assets must be at least $5 million in order to participate in STO. Also, all members of the company must be accredited investors.

It worth noticing, that an investor does not have to comply with all the above mentioned points, one is enough.

4. Forecast for the future

It is early to talk about the future that expects for STO yet. The main indicator of success, which is worth paying attention to is the number of companies that do not work on the blockchain technology market, who wants to conduct an STO in the near future. This type of attracting investment should interest middle class companies, for which to conduct a classic IPO is too expensive. If this scenario becomes a reality, then it will be possible to assert with confidence that STO has a great future. It worth noticing, that this is not a fast process. It will take at least 1-2 years to set all the mechanisms and launch STO for a wide audience. It is quite possible with the right approach of investors and regulators. Now there is another obstacle on the way to massive implementation of STO – the general decline of the cryptocurrency market. The matter is that people`s interest to investments in blockchain is decreased at the moment. But the fall cannot last forever, that is why many experts still have optimism and believe in better future of both STO and the cryptocurrency industry.

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WHISKY TOKEN Or WHY Should People Invest Into Crypto?

Regrettably, crypto market has recently experienced a great downfall of its value. Many cryptocurrencies have lost their former prices and now are climbing up to their stable marks. Market volatility has been an issue to all investors, even for skilled ones. What if we tell you that one Team has created a wonderful method to stabilize the market and to calm down investors’ nerves? Sounds fantastic, doesn’t it? We offer you to look into Whiskey Token – first whiskey-based crypto token.

What is WHY?

WHISKY TOKEN, or just WHY, is a creation of new values. Do you remember, in 1971, the US government decided that the dollar would be backed to the oil, not to the gold as it had been before? The same goes here, the WHISKEY TOKEN will be backed to the  real whisky value. It is based on Ethereum, this helps to combine growth potential and security of the token.

The Biggest Advantages

  • Minimum risk of loss for WHY holders. Whiskey portfolio protects them from total course breakdowns.
  • Participation is affordable for everyone. The fee is €30.
  • No commission for management, just a little for blockchain technology assistance and distinction to traditional investment funds.

WHY’s mission

The project aims to let WHISKY TOKEN (WHY) owners take part in crypto market, no matter what financial circumstances might be. Due to a high-end whisky portfolio, the holders will be able to make fortunes from returns of the crypto market with a limited downside risk. WHY combines crypto technology with real asset values. The Team is sure that expectation of every holder will come true.

ICO details

The ICO has already started, it will last till February 28, 2019. The total number of WHY created is 28,100,000. The ICO is divided into three parts, the price of token depends on the phases, starting from 1 WHY = 0.8 EUR to 1 WHY = 1,2 EUR. The soft cap is 2000000 EUR, the hard cap is 25000000 EUR. Accepted currencies are Bitcoin, Ethereum and fiat money. The bounty program is available, about €50,000 is allocated for this purpose.

If you are interested in whiskey, as well as WHISKEY TOKEN, please, follow the link to find more information about the project.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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The UN Will Use Blockchain to Develop Healthcare in Africa

The United Nations division, the Office on Drugs and Crime is going to cooperate with the blockchain company doc.com in order to provide free and accessible healthcare and medical services in the Eastern regions of Africa.

Doc.com is a company that specializes In telemedicine and telepsychology. It uses blockchain to let the customers exchange their personal data for tokens, which will open access to various healthcare services.

The company is functioning in over 20 countries with around 130 thousand customers. The United Nations has been researching the ways to use blockchain for humanitarian causes, thus, this collaboration might become the salvation for poor African countries.

We remind you:

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

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Bithumb Won the Trial in the Case of a Major Crypto Attack

As reported by the Korean subdivision of CoinDesk, a customer of the South Korea-based cryptocurrency exchange Bithumb suffered a tremendous money loss at the end of 2017 due to a hacker attack.

Back in November of 2017, the hacked victim placed 478 million Korean won (426,600 dollars) to his account at Bithumb. Only a couple hours later, an unknown hacker broke into his account, exchanged the money to Ethereum and stole it. As a result, the poor Bithumb user was left only with 11 cents at his account.

In the attempt to bring his funds back, the victim tried to sue Bithumb. However, the exchange management used the Electronic Financial Transactions Act, according to which the exchange is not a financial company, thus, it is not responsible for the hacker attack and money loss. The court found Bithumb innocent.

We remind you:

Bithumb Outruns BitMEX in the Crypto Exchange Battle

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MobileGO ICO Price Overview

MGO token allows you to significantly expand the functionality of smart contracts (similar to the Ethereum and Waves cryptocurrencies). With its help you can:

  • Acquire / sell virtual goods, as well as game content;
  • Participate in decentralized eSports events.

MobileGO ICO price is not only advantage. It has a number of useful functions:

  • Opportunity to participate in decentralized competitions;
  • Payment token in decentralized markets and stores;
  • Can be exchanged for any whitelisted crypto on exchange services.

MGO tokens are adopted by over 500 mln users all over the world. Gamers, developers, investors, publishers and creators are choosing MGO tokens massively, just like Bitcoin 2 years ago. This achievement is simple to explain — MGO is based on the transparent business utility achieved thanks to the partnerships with Xsolla, Microsoft and many other companies. Reputation, respect and revolution describe MGO in the best way!

On the chart you will be able to track the level of prices for the MGO token The transfer of it is carried out in dollars, rubles, ETH and BTC. With the help of the appropriate switch you can examine in detail the trend of the MobileGO token. You can choose a certain period for consideration — it can be 1 day, a week, a month or a year, as well as a full story.

Why to join MobileGO revolution right now?

MobileGO plans an airdrop giveaway! Everyone can join and get free MGO token! Please pay attention to the fact that airdrop of MGO tokens will be limited! It will start in November.

Follow the official social media channels and set the alert about notifications from us — don’t miss the airdrop’s launch on https://airdrop.mobilego.io!

Rules for application are very simple. Follow MGO social media and fill in the forms with required details. That’s all you have to do! They will reward you with free MGO tokens which will be sent to your Ethereum wallet as soon as you fill in the form.

Follow the updates about this and other events on the official website — https://www.mobilego.io/!

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

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