The last 18 months of ICOs, and now Token Offerings, is often characterised as the ‘The Wild West’. So reminiscent of the early day of Crowdfunding, which so nearly got ‘regulated away’. How can it be fixed?
We are clearly past this turning point with the world of Token Crowdfunding. Not least because so many smaller jurisdictions: Gibraltar, Malta, Singapore, Estonia, Switzerland, not to mention Japan, have embraced this new way of funding and launching ventures made for the networked era.
What’s emerging from this global phenomenon is a new global economy, based on a global network and a patchwork of un-coordinated approaches, rules, laws and regulation.
This creates an unprecedented and crucial challenge. One that is crucial for all our future - not just the UK or London as a financial centre, but globally: how do we govern globally? A patchwork just won't do it!
Crucial because what happens next will determine the path we all take. This was acknowledged at the recent OECD meeting in Paris, which focussed on Blockchain’s potential global economic impacts, its use in enabling inclusiveness, to promote sustainability, and strengthen governance and enforcement.
Governance is often a ‘switch off, go to sleep word’. But at this point, the first time we as a race are forced to confront the fact that we need to work out how to do this globally, it really matter. We are remaking money and the internet. What has been dubbed the 4th industrial revolution will therefore remake business, commerce and the world.
It’s never been truer than, as Buckminster Fuller said, we can choose to be the architects of our future or its victims.
We, TokenIntelligence.io (I am founder/CEO), are working, together with the British Blockchain Association (BBA), to bring all we learned in the last decade, about regulation, innovation, and especially transparency, to bear directly.
The key concept of the next, ‘Decentralised Web’ is TRUST. In other words a trustworthy blockchain infrastructure. But trust is inevitably undermined without a foundation of transparency. This is the basis of the open-source, peer-reviewed, code on which this technology is itself built. It can be trusted because it can be scrutinised by anyone capable.
In the most significant step since the creation of this ecosystem tomorrow at Blockchain Live in London we, together with the BBA, will launch the world’s first Global Blockchain Venture Scheme to bring a new level of transparency to Token Offerings and Blockchain ventures.
Join us there if you can,listen at ICOrad.io or email questions to Barry.James@ICOrad.io