Alethena (ATH) Swiss Blockchain-Asset Rating Agency Launches Compliant ICO Token Sale
The blockchain technology has enabled so many start-ups to raise funds easily and fast via Initial Coin Offerings (ICO). Nowadays, a company can come into existence in a day and raise more than enough funds in a matter of hours. This possibility has seen the rise of so many fraudsters and scammers starting up dubious companies and raising capital that they later disappear with.
Alethena, a Swiss Blockchain-Asset Rating Agency seeks to change this trend. They have created a rating agency based on the blockchain that will monitor and analyze the viability of projects started on the blockchain. This system will be a self-regulating mechanism that will focus more on the long-term sustainable block chain projects.
— Alethena (@_alethena) June 6, 2018
Alethena has become the first compliant Swiss ICO. It just recently launched its token sale after a successful campaign with their pre-sale. Alethena token has instituted limited voting and profit-sharing rights in a bid to encourage investors to get into it in the long term. The token aims at becoming the best model for best practice within the ICO 2.0 market.
Its unique minimum viable product (MVP) became available to the public before the agency initiated its presale. The MVP is an indication of this system will take through its developmental period all the way to when it will have a practical use. The pre-sale took place between 23rd of May and 30th of the same month in 2018.
It is worth noting that Alethena has been in the crypto and ICO industry for more than three years now. They have taken the initiative to carry out due diligence and research on this aspect identifying the flaws inherent in the blockchain technology that is allowing scammers and fraudsters to take advantage of the system. It is in following with the findings of Alethena’s research, says Pascal Marco Caversaccio that the company has seen the need to develop a self-regulating market mechanism that will encourage the growth of long term sustainable projects while discouraging fake short term ICOs. This system will be a transparent and sustainable platform for investing in ICOs.
Alethena is also in compliant with the Swiss financial law. This is a step in the right direction in a bid to have authenticity. Investors will have confidence in the agency’s reports knowing that they are protected by the law. According to Caversaccio, the agency has been working in close contact with Wnger & Vieli law firm. They have set up a new gold standard that adheres strictly to the set regulations of the Swiss financial market law.
The ICO will thus take place with high levels of transparency and within the legal standards. It will also incorporate rigorous procedures of Know Your Customer (KYC).
The agency has received support from high profile individuals from reputable finance institutions. Some of these people include Professor Thorsten Hens of the Department of Banking in the University of Zurich as well as Bitcoin association Switzerland founder Luzius Meisser. This support shows the seriousness with which this agency will be working.