Canadian and US fintech companies and investors have joined together to launch the Institute for Blockchain Innovation to guide the industry into the future.
Institute for Blockchain Innovation Created to Guide the Industry
A new think tank dedicated to the development of Blockchain and cryptocurrency industries called the Institute for Blockchain Innovation has been formed by US and Canadian companies and investors in the space. As reported by the institute which was spearheaded by startup Finova Financial along with 60 other interested parties in order to “envision and design guard rails for the blockchain and cryptocurrency industries as they mature and become more mainstream.”
According to Greg Keough, Chairman & Co-Founder of the Institute, and CEO of Finova Financial, the institute will be an open source community where people will be encouraged to get involved in the Blockchain movement. A place to share and explore ideas and trends as well as to contribute to thought leadership for the future of all things blockchain. Keough was quoted as saying,
“We believe that the blockchain will be a powerful engine for bringing more people into prosperity and encouraging innovation at an unprecedented level.”
The institute has identified three major benefits that the cryptocurrency – has to offer. First is blockchain’s decentralized structure which has led to a multitude of experiments across all fields of industry from finance to agriculture. Second, blockchain’s seamless transaction potential which can unify global banking networks and ease the hassle of . Thirdly, is the immediate liquidity available when backing blockchain ventures, something startups outside of the crypto space can rarely offer to VC or angel investors.
The IBI is also intended as a platform for startups and all others in the crypto space to voice the positive aspects of cryptocurrencies and the potential of blockchain technology to improve society. With the weight of the institute behind them, the founders of the IBI hope to form partnerships in order to educate law and policymakers about the emerging technology and help to create beneficial regulation.
IBI Plans to Explore JCOs
First on the IBI’s agenda is to explore JOBS Crypto Offering or . This unique fundraising platform is a combination of the relatively new initial coin offering with the more traditional initial public offering (IPO). A JCO issues securities that can be converted into crypto tokens by the company while still complying with the JOBS act regulation.
According to the Institute,
“the JCO is a next-gen hybrid that gives startups a pathway from the initial capital to IPO on the block chain so that companies all over the world can more easily tap into the financial resources they need to grow. This is a new approach to trading digital equity securities (commonly referred to as “equity tokens”) on the block chain that creates a solution for the regulatory gap in ICOs while providing liquidity in a crowdfunding model.”
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Published at Wed, 02 May 2018 09:00:41 +0000
Blockchain
