The rise of ICOs brings a new and yet more powerful form of crowdfunding.
So with a solid background in crowdfunding, having founded the p2p platform Finbee and enjoyed a career in building and investing in fintech startups for consumers, Laimonas Noreika, Co-Founder and CEO of DESICO, is ideally-placed to analyse why investors are seeking out ICOs so keenly, to give advice to entrepreneurs looking at starting a project, and to comment on where he believes the sector is heading.
In this episode, Barry E James talks to Laimonas on the likely outcome of the battle between the global demand to invest - and to invest early - and the mistrust and need for regulation of ICOs.
They discuss how DESICO is looking to bridge the gap between investors and ICOs by offering a regulated environment for trading security tokens inside a legal framework; about trading tokens from Day One rather than having to wait; and especially how the Ministry of Finance in Laimonas’ forward-looking homeland of Lithuania has just published its guidelines for cryptocurrency and ICOs, divided into four areas – regulation, taxation, accounting, and anti-money laundering/financing of terrorism.
DESICO is in the private sale stage, Whitelist will be about two weeks and airdrop available soon - see Telegram for more - and is expecting the platform to be fully operational by Q2 2019, if not before. Laimonas’ final words of advice for ICOs is to think everything through very carefully, to remain compliant with regulation, and definitely to avoid calling a security token a utility – that will get rumbled!
