In 2016 we announced our plan to bring the new JOBS Act Title III laws to Ethereum tokens. We went to FINRA (Financial Industry Regulatory Authority) and became a member (1st step in getting certified) and started to move through all the legal hurdles to get the license. We knew we were only going to get so far because the platform had not been built yet, but we didn’t want to get over our heads and then get told we weren’t going to be allowed to do what we were planing. Luckily they were very open to our idea and had heard of Blockchain technology. They told us we were ready to go into the last part of the certification process but without the platform being built we couldn’t move forward. The last part is the demo of the platform.
For us it was a win.
We moved quickly to have a basic platform that could function and one we could attach all our backend tech to when the time came. The platform is now in it’s most basic form and will pass the test of FINRA with a couple of tweaks left to do. We are excited to take everything back to them very soon.
2017 is going to be an exciting year, we are hoping for a fully functional platform launch in late Q2 early Q3, depending on how fast we can get everything through FINRA. After that we will have our first project funded along with really polishing the rest of the platform. Starting work on the Services Branch and Exchange could start by Q4 2017 if we are lucky. We are excited for a lot of the projects that are being worked on for Ethereum and want to implement them into the platform as they are available. Some of the projects we are looking forward to implementing are:
- Stablecoin? (possible wishful thinking for the near future)
The first on our list to get using is uPort and we think anyone who has used a modern day webapp and signed in with their Facebook account can understand why. We need to meet very specific Know-Your-Customer obligations and uPort is the first step. Hopefully we can bring some value to the project by using it.
Big Announcement Coming Soon!