Due Diligence is NOT LinkedIn Profiles & Pretty Pics!
BenchCoin: Quips, Thoughts and Opinions
When ICO Due Diligence Is All About Marketing
One issue we would like to address specifically is LEGITIMACY (ie. Proper Due Diligence). Our core team is well versed in performing proper due diligence. One of our Directors has held a position of strict fiduciary duty as an Executive Auditor with PricewaterhouseCoopers for more than 30 years. If you are not familiar, PwC is the #1 financial services firm in the world. His responsibility was to make sure top accountants for the top firm in the world were doing their job correctly. HE KNOWS DUE DILIGENCE.
However, (in our humble opinion) most people INVESTING in ICO’s, do NOT know how to perform proper due diligence. They believe Teams with LinkedIn Profiles and Personal Photos are what make a “Team” legitimate. Even many ICO listing sites base their due diligence on LinkedIn profiles— then charge a large fee in Bitcoin to list the ICO? Is this a joke? Unfortunately no. It must be more about the FEES because ANYONE can put up a LinkedIn profile and a pic. My 9 year old niece knows how to make internet profiles and use a smart phone camera (she even use filters and emojis!) There is nothing required to make these team profiles — It means nothing.
However, in order to Incorporate and to obtain Corporate Banking, you must provide certified documentation; Government ID, Proof of Residence, Bank Statements, References, etc. This is demanded Government Companies House and Banks for Know Your Customer/Anti-Money Laundering laws.
BenchCoin by HFB BENCHMARK, INC.
With our project, we have received comments that we don’t have any images up so our team must not be “real”. My first thought,“I think, therefore I am!”. O.K., that may be a little tongue-in-cheek, but they are right, we don’t have beautiful pics and exaggerated profiles. However, what we do have is much better. We are FULLY INCORPORATED with CORPORATE BANKING. That means both a Government and a Regulated Bank required us to provide REAL DUE DILIGENCE — KYC/AML; Certified Passport Copies, Proof of Residence, Bank Statements, References, Work History and Business Plans.
HFB Benchmark, Inc. is fully incorporated with corporate banking — our core team has been fully vetted — twice!
Let me repeat — REAL DUE DILIGENCE.
Make sure to check out our next gripe in our Quips, Thoughts & Opinions section where we rant about how and why the Spirit of the ICO is being crushed.
BenchCoin Project on Medium: Quips, Thoughts & Opinions
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BenchCoin ICO Website: http://hfbbenchmarkico.com/
