GECKO Governance, a renowned and massively decorated RegTech regulatory solution that offers financial compliance services, recently inaugurated a new solution known as GECKO Crypto1. The launch was preceded by an approval by the Financial Services Authority of the Isle of Man. Primarily, the GECKO Crypto1 solution is expected to ensure that ICOs are compliant with various legal frameworks, and thus significantly improve the amount of accountability as well as openness within the blockchain sector.
Moreover, GECKO Governance also hired Dan Viola, an industry veteran who previously served in a leadership capacity as the Securities and Exchange Commission (SEC).
— GECKO Governance (@GECKOgovernance) June 13, 2018
As mentioned above, GECKO Crypto1 will focus on enhancing transparency and culpability concerning ICO events. The solution will attain this objective by remitting control to the crowdsale organizers before, during and after the completion of the coin offering. Hence, the entire process will remain compliant with both local and international laws.
In this regard, the solution will have management and regulation mechanisms that enable investors to evaluate their credibility while also availing an audit trail for external regulators. The GECKO Crypto1 solution is built on the Ethereum blockchain, a factor that guarantees trustworthiness, security and decentralization of data and other resources.
According to Shane Brett, a co-founder of GECKO Governance, token sales are the currently the most appropriate means of raising capital to fund startup projects, having contributed a whopping $7 billion in 2017.
Nonetheless, the existent regulatory protocols in the ICO sector are inhibition of its development and can lead to failure if they are not changed immediately. By launching GECKO Crypto1, GECKO Governance intends to revolutionize the ICO space by providing dependability, answerability and clearness.
The GECKO Governance project is funded by COSIMO Ventures, a venture fund whose head offices are in Boston, Massachusetts. Besides the recently appointed Dan viola, the other principal advisor of GECKO is Jeff Parker who previously headed Thompson Financial.
Soon, GECKO Governance aims to conduct its ICO. During the upcoming crowdsale, the company will issue GECKO utility tokens, and the event will be a demonstration of the project's key objectives. The GECKO tokens will be used by various stakeholders and institutions to access services within the GECKO ecosystem. Following the approval of the GECKO Crypto1 solution, it is expected that GECKO’s ICO will establish a precedent by complying with the standards proposed by their latest product.
Speaking on the accreditation by the Isle of Man Financial Services authority, CEO Shane Brett could not conceal his enthusiasm. Shane said that the approval was a significant milestone in his company's operational guideline. He also added that the impending ICO would be an opportunity to showcase the radical improvements that GECKO wants to bring to the ICO market using GECKO Crypto1.