One of the most attractive aspects in the cryptosphere is the lack of regulations and bureaucracy which has allowed users and project creators to skip some of the red tapes that is usually associated with the regular economy. This is the case with Initial Coin Offerings (ICOs), cryptocurrency-based crowdfunding campaigns that allow projects and startups to get the funds required to build their projects.
One of the most attractive aspects in the cryptosphere is the lack of regulations and bureaucracy which has allowed users and project creators to skip some of the red tape that is usually associated with the regular economy. This is the case with Initial Coin Offerings (ICOs), cryptocurrency-based crowdfunding campaigns that allow projects and startups to get the funds required to build their ideas.
While these campaigns do facilitate the process of getting an idea off the ground, several problems in the industry still need to be resolved. The lack of regulation surrounding Initial Coin Offering campaigns can also have negative effects, like the growing number of “scam” ICOs in the space. Furthermore, the complex nature of cryptocurrencies can also make it hard for projects to launch their own campaigns without assistance.
The Waves Platform has been at the forefront of the ICO world in 2017, facilitating the crowdfunding process for blockchain-based projects like MobileGo, ZrCoin, EncryptoTel and PrimalBase with its easy-to-use token issuance mechanism and the option to have tokens trading on the DEX(Decentralized Exchange) immediately. By doing so, Waves is not only helping projects launch but it is also allowing average citizens to invest in companies with ease.
Now, Waves has partnered with Deloitte CIS in order to provide Initial Coin Offering-related services and customized business-oriented blockchain solutions.
Deloitte will focus on providing the necessary consulting and “methodology assistance” to business and government bodies who may wish to integrate blockchain technology, while the Waves Platform will provide the technologic solutions necessary for the implementation. Waves will also assist companies with marketing campaigns.
Through this new partnership, both companies will also develop legal mechanisms for regulating ICO projects, which will “help the companies to safeguard themselves from project risks and challenges”. Sasha Ivanov, founder and CEO of the Waves Platform stated:
“Our partnership is a significant step towards mass application of blockchain technology. Presently, blockchain companies are not regulated, as there is no existing legislation as such. Our strategic partnership with Deloitte will allow us to take active part in the formation of this regulatory landscape. It is important to join this process both for us and the entire blockchain industry in Russia and the CIS.”
As the Waves Platform moves forward towards the Waves 1.0 evolution, several other projects will continue to issue tokens on Waves, many of which are currently interested in using the platform to launch their ICO campaigns, such as a VC fund, a VR project and many others. With the proper services and regulation put in place, the Waves Platform can help spread the digital economy, bringing blockchain technology and ICOs to the mainstream stage.