DigitalX Blockchain Consultant To Open ‘FutureICO’ Initial Coin Offerings Issuance Platform
Initial Coin Offerings (ICO) issuing is on the rise creating the need for more platforms to facilitate this process. DigitalX, a company dealing with the development and consulting of blockchain is the latest to show interest in creating an ICO friendly platform.
The firm is set to establish a wing to specifically deal with the development of this platform. According to crypto news sources, DigitalX has come together with three other entities to form ‘FutureICO’ as the vehicle towards this milestone. Among its partners is First Growth Funds Limited which is mainly strategic for capital.
FutureICO development is geared towards enabling a compliant environment for the interaction between ICO issuers and the applicants. This will solve part of the uncertainty comes with acquiring ICO’s via networks that haven’t invested much in security or research on regulations.
The two other players working with DigitalX on this project are Big Start Pay Limited & Blockchain Global Limited. Both play an important function in ensuring the FutureICO joint venture launches a successful ICO ecosystem.
DigitalX’s platform will enjoy a couple competitive edges by pulling resources together. The stakeholders mentioned in this project are experts in the following areas within the industry; digital asset compliance, altcoin security and development of blockchain networks. It is the team’s intention to summarize the research and development phase and finally launch this product within the ongoing financial year.
First Growth limited grasped the opportunity to enter into a binding agreement with FutureICO in order for them to fund the project. The term sheets for this negotiation advocated for 25% FutureICO Equity ownership by First Growth for $285,000 worth of funds into the project. In addition, First Growth will have one board membership slot which they can nominate their preferred representative.
As it stands, FutureICO Equity is divided among four entities with Blockchain Global Capital & DigitalX taking the lion share with both at 34% ownership. First Growth limited owns 25% as per negotiations and the remaining 7% is owned by Big Start Pay Limited.