What Is Byteball Initial Coin Offering Tool?
Byteball is cryptocurrency platform, and anyone that has been involved in their projects can easily see that they are always looking to innovate. Recently, Byteball launched their new tool that is geared towards helping consumers that deal with a large class of investments, which is the verification of accredited investors.
With so many ICOs released in 2017, it should come as no surprise that billions of dollars have been raised towards investments. Most of them used utility tokens to sell, since there are so many regulations needed for tokens to pass the Howey test. The Howey test was set up in a Supreme Court due to a company of the same name. During the case, they avoided selling shares by selling orange grove plots instead, but they set a precedent for what is considered a security. However, since every offer cannot be classified as a utility token, transactions become exponentially riskier.
Many countries safeguard their constituents by restricting the ways that consumers can invest, often by sticking to exclusively accredited investors. Within the United States, sellers must abide by SEC Rule 506(c), which says that sellers can offer unregistered securities, with the stipulation that the securities must come from an accredited investor. This can make the process difficult, because there can be a lot of individual research required to make sure that the investor follows these regulations. However, that is where the Byteball platform has made the process easier.
Applying For Accredited Investors Verification
Byteball combines the information from their platform with VerifyInvestor.com. The website does all the research for the user, rather than risking their own funds before knowing the accreditation. There is also a chatbot online that helps consumers to save and research more details.
To give details, the user will need to pay $79.00, which appears to be just for attestation of each company. After the payment, the company is not responsible for any issues or failures of accreditation. However, if the user can prove their accreditation, they will be refunded the $79.00 from the undistributed pool. Participants can also get an additional $20.00 for each successful referral.
Once payment is made, the participant will need to choose one out of the three different ways to provide their proof – as an individual/joint, as an entity, or as a trust. As soon as the user selects the right box, they will be taken to a list of documents and supportive evidence that they need.
Verification of these documents can take up to a few days, though the chatbot will notify the applicant as soon as it is approved, which means there is no need to check back. If approved and accepted, there will be a post to DAG to show the accreditation status. While personal information is not out there publicly, consumers can check the website with the investors BB address to check their status.
If not, the process may need to start over, or the user can use the chatbot to get more information.
How Accreditation Verification Impacts Byteball
Right now, Byteball is the only ICO on the market at all that offers the attestation of accredited investors, while also offering security tokens. These small actions are performed in traditional investments with a broker but offering it from Byteball gives consumers more control. Even if other ICOs are interested, Byteball has already paved the way.
If consumers have other questions about Byteball.com, or want to stay updated, they can byteball.org/