Konkrete Distributed Registries Blockchain Startup Promises ICO Will Abide By Australian Regulation
A recent reporting by the Australian Financial Review has unveiled a promising blockchain-based startup in Australia. The firm dubbed, Konkrete Distributed Registries supposedly tackles current crypto market issues, which namely include increased volatility, uncertainty in prices and regulations.
As per the claims made, Konkrete will address volatility issues by possibly pegging a token to a rather stable asset, i.e. tangible assets like property. This decision stems from the fact that tangible assets increase in value, which will naturally keep crypto prices stable, if not, grow over time. In addition, said pegging can potentially help reduce volatility of market because of the new money coming in.
Regulations have had many investors doubting what the future of the crypto market might be, as several countries across the globe either understand and are taking the necessary actions to supplement its progress or have failed to understand their usefulness and have placed some limit on them. Fortunately, Konkrete’s efforts are said to abide by regulation.
In particular, Konkrete’s tokens are said to be attached to Konkrete shares of an “unlisted public company under the same name,” reports crypto news outlet, BTC Manager. The said features make Konkrete’s ICO one that is hybrid and in at large, an IPO as well.
The key factor that is interesting to consider in Konkrete’s case is the notion of regulation. Based on Australian laws, sales of shares are treated equally regardless of whether this includes some form of cryptocurrencies within the sales. This not only means that they follow some regulation, but it is also implying that investors are offered protections in the event that things don’t go the way they have been projected to be.
Since publicly announcing Konkrete and its respective platform, the team involved have been successful in raising $3 million in funds, with nearly 67 percent of it coming from a Singaporean firm called Signum Capital. As for the tokens itself, while they claim to abide by Australian regulation, the platform itself is deemed decentralized, reduces barriers of entry, and allows investors to contribute as low as $100 increments. The platform launch is anticipated for some time between the second or third quarter of 2019.