• Desico
    Alt coins,  Europe

    Desico brings a Kickstarter mentality to launching tokenized securities

    And it happens in regulated, legally compliant environment—in Lithuania

    A blockchain platform called Desico claims it’s the world’s first way to issue and trade security tokens in full compliance with the law. Taking its name as an acronym of “decentralized ecosystem for security ICOs,” the company was founded in the first quarter of 2018 by the three-person team of Laimonas Noreika, Ethan Pierse, and Audrius Griskevicius. The entrepreneurial trio has an established track record in financial technology. In 2015, they started FinBee, a peer-to-peer lending and crowdfunding platform that has already funded more than $15 million euro in loans for businesses and individuals. Now they turn their attention to the world of crypto and blockchain. One can think of…

  • ICO white paper
    Alt coins,  Innovators,  Regulation,  United States

    Study rings alarm bells on some of the biggest ICOs

    Findings show troublesome inconsistencies with many popular token offerings

    What many of the biggest ICOs promised in their white papers aren’t found in their code—and that could pose a serious problem for investors. That’s the conclusion of a study that came out this week titled “Coin-Operated Capitalism”. The 104-page report bills itself as “the legal literature’s first detailed analysis of the inner workings of Initial Coin Offerings” and their findings show troublesome inconsistencies on the part of many popular ICOs. A University of Pennsylvania team headed by law professor David Hoffman with comp sci doctoral student Shaanan Cohney, JD/MBA grad Jeremey Sklaroff, and CTIC fellow David Wishnick wrote the piece. “We began with simple curiosity about smart contracts,” said…

  • attorney law
    Cryptocurrencies,  Innovators,  People,  United States

    Leading ICO attorney Joshua Klayman leaves Morrison Foerster, starts own firm

    Klayman is now 5th of 12 top blockchain lawyers to switch jobs this year

    Top ICO attorney Joshua Klayman has left her firm of five years, Morrison Foerster, to strike it out on her own. The move is the latest among leading blockchain barristers bolting for greener pastures as the industry takes off. Klayman was a rising star at “MoFo,” where she was the founding chair of its blockchain and smart contracts group. Among the deals she worked on was the Sprint/T-Mobile merger. In addition to her new firm, Klayman LLC, she will be consulting for global legal firm Shearman & Sterling LLP. Klayman has also started a consulting business, Inflection Point Blockchain Advisors, LLC. (IPBA’s CTO, Alex Rass, is a technical consultant and…

  • ICO white paper
    Cryptocurrencies,  Innovators,  Opinion,  United States

    Why most ICOs will fail

    A long chat with the team from Monetago, a blockchain company that never did—and will never do—an initial coin offering

    Almost every day, I get an email about a hot new initial coin offering (ICO). These come from tech companies selling their future services. In my stock portfolio, I’m happy to find anything that can give me 10 percent return over the course of a year. These days you can measure a crypto portfolio in 2x, 3x, or even 10x (as in, 1,000 percent). But lately, all this good news has been bothering me. The financial magic works like this: imagine if someone builds a casino in your neighborhood and they fund the entire operation by selling their poker chips ahead of time. With that money, they will pay for…