What Are The Main Reasons Behind Japanese Startup Plans For One-Stop ICO Platform?
Japan comes with an ambitious plan. When it is about blockchain technology it draws a large audience. Read the following post to know all about it.
The Current Situation In Japan’s Blockchain Technology
Currently, there is one company in Japan hatching an ambitious plan that offers a one-stop service letting companies across the world take advantage of blockchain technology and IPOs without violating financial regulations.
While it is working on the strategy to help companies with consultancy and a range of technical services is the Tech Bureau preparing to introduce a whole lot of new platforms covering nearly every aspect of the process of an ICO known as token sales chiefly that of raising capital.
Spanning the development of initial white paper the scope of ICO work to technical integrations manage the sale process and even community management and marketing. Whereas on the technical side it already operates with what is known as its own “mijin” blockchain-based on the NEM protocol for developers for deployment and the “Zaif” Bitcoin exchange with coins being sold in the final piece of facilitating the token sale itself.
Hear It Straight From The CEO
Announcing that it has raised $ 15million from Japan’s largest VC firm JAFCO, the company kickstarts the plans that previously raised $ 10million whereas the money was to put all of those first building blocks in place that comes including hiring talent opening at least four offices worldwide while developing Japan’s first ICO platform COMSA thereby taking advantage of interest in Bitcoin in the country where there is a development with a booming cryptocurrency funding that has already passed $ 1.7billion this year.
It is this fact that is important to consider that while COMSA takes a different approach to platforms similar to those of ICOage, as well as ICO.info in China, these Chinese services are ideal for buyers offering a one-stop solution buying into ICOs with companies selling tokens as they could almost guarantee the chunk of token sale that is sure to come from China.
According to CEO Takao Asayama they help implement token/blockchain tech to businesses in a way businesses can add value to tokens they issue as the catalyst would be a conduit between those of the decentralized public blockchain world as well as the centralized legit that is working businesses.
In the first step of the process, companies are helped while wanting to hold ICOs analyze how they can implement blockchain technology into their business with a critical, factor being overlooked is the fact that companies can raise considerable amounts by token sales. Where there are genuine integrations as one factor that is used to judge whether a token sale is legitimate or not, there is another big crypto question as asked by the SEC with regulators worldwide whether token on offer falls under securities law.
What Is The Target And Aim Of The Improvisation On Bitcoin?
Based on this subject, Japan has been fairly accommodating to Bitcoin as an asset was accepted fairly widely by retailers, like most other countries, the position on ICOs come less clear especially if and when tokens fall under securities laws.
Asayama explains that as long as they handle only non-security tokens, it is ok and once circulated in the market it is a virtual currency helping to implement token/blockchain tech to businesses the way they add value to tokens they issue. The relevant idea is planning to make the model global whereby in terms of both token issuers, as well as token buyers already have 50 percent of inbound interest for ICO companies from outside of Japan. Some level of risk management is to be implemented with users given the international scope.
Based in china these are for one, likely to be excluded from the COMSA platform. Still being developed, it has already attracted 150,000 registered users where since it is online will be able to invest in ICOs hosted on COMSA with the key component being COMSA’s own ICO to attract the audience.
There Is More To The Development In ICOs.
Again he states that the VC cash is sure to go towards constructing the business and hiring the own ICO with fund development of COMSA Platform as well as other blockchain-based services for integrations.
Regarding the ICO, the plan underway is to raise money mostly through an uncapped sale registering COMSA users where there is a following with an initial $10 million presale to major investors with the sale uncapped to prevent the so-called pump and dump strategies from investors while also getting a closed cap sale thereby releasing a token into the market at a higher price that is once generally available to all.
He further explains that they consider the platform not a one-time token sale but are confident of ongoing growth in the value of the CMS token. The ideal sale he says would raise upwards of $50 million as the token sale itself runs from October 2 to November 6 stating details on the dedicated website.
Including the number of benefits, the token ownership includes decisive votes on potential COMSA projects. As Asayama explains, some challenging businesses are coming along with certain risk-taking a community vote based on the number of tokens where they own as the community decides in case they need the business to go ICO or not.
The Closing Words
Warning about China’s ICO ban experts sees that as allowing other global markets to take lead on these token sales looking like that’s exactly the objective here. The president of NEM.io Foundation, Lon Whong says that with a foresighted approach, Japan appears to take lead in managing the growth of the cryptocurrency industry with major venture capital companies resort to sending in money as the industry comes well on its way to become one of the major economic force.