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A Crypto Crimes Database Is Here, and It’s On to Something

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Crypto Crimes regulations

If you have ever seen crime shows from the 90s or early 2000s, you inevitably saw a frustrated detective wring his hands and say, “there is no record of the crimes from the other state.”

Even to this day, a national crime database is not a thing in many countries.

In the United States, there is no simple search system to scoop records from national, state, county, and federal databases. These databases operate on a different search parameter.

However, blockchain and crypto space may be able to circumvent the painful lessons from this lack of a single-source reference.

Murphy & McGonigle, a financial services law firm with a focus on blockchain and crypto litigation, has built a database to act as a single-source reference for specific case laws, verdicts, and fact patterns.

Blockchain Litigations Expected to Rise

Daniel Payne, Murphy & McGonigle

              Daniel Payne

As more and more companies are now venturing into the blockchain space, Daniel Payne, a shareholder in Murphy & McGonigle’s FinTech & Blockchain Practice expects an uptick in the number of cases in the space and for the relevance of the database to be more prominent. “As the economy drives toward a blockchain future, we think the litigations in the space will follow,” Daniel said.

The database tracks the trend line of litigations in the space. For instance, the 2017 and 2018 trend line shows a massive increase in blockchain litigations, which has subdued in 2019 as illegal and unauthorized ICO’s died down.

According to a report by Murphy & McGonigle, securities-related fraud lead the litigation list, while Texas leads the charts for the most number of blockchain-related litigations in the US. The report also notes that “the SEC issued a warning that it has put market participants on notice and is now focusing on non-fraud violations.”


Comprehensive Search Functionality

CryptoTapas had the opportunity to preview the Blockchain Litigation Database with Daniel Payne. The search criteria are quite comprehensive, with options to search for a specific case by plaintiff, lawyer, code, verdict, or any number of parameters. All the charts and statistics on the database are hyperlinked, helping to take the users straight to the details of whatever information interests them, depending on their search.

The database lets users narrow down their searches to the minutiae of a specific type of complaint. For example, if you want to see only criminal cases within a broad category, you can do that. You can further narrow down the search to a particular jurisdiction. You can even find cases by law firm or attorney. “One interesting aspect of the database is it helps you find the law firms that dealt with specific case types,” said Daniel. “One of the interesting aspects is that a particular attorney in Florida has been very active in finding plaintiffs to file a specific type of litigations.”

“Our database helps tie the incidents together that lead to a case,” Daniel said. “A case is otherwise just a case; however, learning about the incidents helps us advise our clients so that they don’t fall into the same pitfalls.”

Bitcoin and the Blockchain Litigation Database Have Common Roots

The idea behind the database came from the mortgage litigations the firm dealt with during the 2008 financial crisis. To help the clients they represented, Murphy & McGonigle started tracking all the mortgage litigation cases, whether their clients were involved or not. This database gave them the edge in terms of finding case laws and rulings to leverage in their cases.

The utility that the firm drew from tracking mortgage litigations sowed the seeds for the Blockchain Litigation Database. Bitcoin was also born during the recession, which was primarily caused by the subprime mortgage crisis.



Smart Contracts Are Legally Binding

“Smart contracts can absolutely be legally binding, and because of that, parties entering into smart contracts need to be careful,” Daniel said. “They should consider getting the legal advice they need before entering the contract.”

All the aspects of a legally binding contract are present in a smart contract. For instance, an offer, conditions, an acceptance, and an execution are all part of the smart contract’s protocol, and as such, they can be just as binding as any other contract.

“Parties should be aware of the ramifications of entering into a smart contract before they enter into them,” warned Daniel.

Education Is Needed in the Space

“I do not think that the attorneys or the courts have the full understanding of this new technology necessary to get questions right that are being presented to them in every case,” Daniel said. “However, we have seen that many of the verdicts on the cases we are tracking are absolutely correct.”

Daniel said that there is a need to educate the individuals working in the blockchain space, especially in terms of the law. “We have seen instances where failure to really understand the technology has led to the decisions that we question,” Daniel clarified.

There is no one to blame here because this technology is so new that many people do not have the required understanding. This lack of understanding is part of the growing pains that any new industry goes through. It is part of the evolution.

“Many of the undertakings of the companies within this space fall within the purview of the existing laws, while few specific aspects need some updates,” Daniel said.

Talking about the efforts made in the space by the blockchain community, Daniel said, “I am happy with the efforts by the blockchain communities in educating the Congress so that they have the background necessary for dealing with the issues that come before them.”

The database is not available for public viewing, but they do offer subscriptions for those who want access.




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Interview

“Coda is world’s lightest Blockchain,” an exclusive interview with Emre Tekisalp of Coda Protocol

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Coda Protocol Interview

What happens when the miners decide to pull out their support of a public network? What
happens when nodes find a project not-profitable and they abandon the project?

It makes the blockchain network weak and vulnerable to attacks. In theory, all public blockchain
networks that rely on network strength to sustain face this existential threat.

Coda Protocol “addresses blockchain’s scalability problem at its source by utilizing recursive zk-
SNARKs to ensure the blockchain never exceeds the size of a few tweets, making it the world’s
lightest blockchain.”

Coda wants to provide a viable scalable solution without sacrificing the decentralized nature of
blockchain.

We asked Emre Tekisalp, Director of Business Development at O(1) Labs, the team behind
Coda Protocol, a lot of questions about Coda Protocol and his answers are below for anyone
wanting to learn about Coda Protocol.

Emre spent two years at Coinbase’s Business Development team where he led a number of strategic programs during a period when the company grew 10x. Before Coinbase, Emre was a Product Manager at Intel’s wearable devices group. Originally from Istanbul, Turkey, Emre has an MBA degree from Columbia University.

Q&A with CryptoTapas

In a world of 1000’s of blockchain projects and protocols, how do you envision Coda
making its mark?

Coda addresses blockchain’s scalability problem at its source by utilizing recursive zk-SNARKs
to ensure the blockchain never exceeds the size of a few tweets, making it the world’s lightest
blockchain.

Legacy blockchains like Bitcoin and Ethereum are incredibly heavy chains from a data
perspective. The heavier the chain, the greater the data processing requirements placed on
nodes, which limits the number of nodes eligible to participate. As the pool of potential nodes
diminishes, decentralization declines, jeopardizing the strength of the network.

Decentralization is not a sacrifice blockchains should be willing to make, yet this is
precisely the danger facing blockchains that focus solely on scalability. Coda confronts this
problem by using recursive zk-SNARKs to encapsulate the entire history of the chain in a single,
lightweight zero-knowledge proof.

To ensure sufficient decentralization upon mainnet launch this summer, we launched Genesis, a
token program to prepare members of our community to be block producers. With more than
500 users joining our testnet, Coda is now one of the largest layer 1 testnets by peer count. It’s
the strength of our technology and commitment to our community that differentiates us from
other protocols.

What would you say to convince the team of a project that is already on another protocol,
say Ethereum or Tron, to move to Coda?

Coda is designed for developers and for projects to use it as an easy tool to enable value
exchange in their existing apps. It is incredibly lightweight and prioritizes decentralization and
security. Already more than half of all web traffic can be attributed to mobile, and so it is
absurd to believe any blockchain system that does not work on mobile will be able to meet
the needs of the increasingly mobile digital economy. Coda’s inclusive and lightweight approach
will allow the protocol to be useful for the existing mobile internet ecosystem.

Who is behind o1Labs.org? How big of a team is working on Coda?

Emre Tekisalp founder of coda protocolCo-founders Izaak Meckler and Evan Shapiro created Coda with the goal of solving the
scalability problems that have plagued blockchain since its inception. We now have 28 full-time employees and hundreds of dedicated community members. The first cohort of validator teams participating in our Genesis program includes Bison Trails, Figment Networks, dsrv labs, and Sparkpool.

Coda Protocol Team

[CryptoTapas Side note: Bison Trails is a Libra Network member]

How does SNARKs make Coda better than other projects, can you explain in a way that a
non-blockchainer can understand?

The basic idea of zk-SNARKs is that they allow one to verify the result of any computation
without having to redo or acquire any detailed information about said computation. For example
you can prove “you are who you say you are” to a website without sharing any sensitive
information like a password. Coda uses zk-SNARKs to enable anyone to easily connect to the
blockchain from any device just by downloading a couple kilobytes of data. In contrast,
traditional blockchains like Bitcoin require expensive desktop machines to download hundreds
of gigabytes over many hours.

In the whitepaper, we read “The resulting consensus protocol is consistent and
responsive as long as at most 1/2 of the mining power is malicious,” can you elaborate
what this means?

In order to function, blockchains require all nodes connected to the network to periodically come
to consensus regarding the latest state of the world. The way this consensus is achieved varies
from blockchain to blockchain.

Coda Consensus

Bitcoin, for example, also requires at least half of the nodes participating in consensus to stay
honest. Unlike Bitcoin, which is a Proof-of-Work network, most Proof-of-Stake networks like
Cosmos or EOS require at least two-thirds of the nodes to stay honest. This higher requirement
makes such networks less resistant to attacks. The specific consensus mechanism we use in
Coda, a variant of Ouroboros, allows Coda to stay secure as long as half of the nodes are
honest, similar to Bitcoin. This is one of the factors that allows Coda to be more decentralized
than other blockchains out there.

Will there be a token sale? What will be the maximum supply of Coda?

We have not disclosed any plans for a token sale before the mainnet release of Coda. Coda will
not have a maximum supply, as it will have ongoing inflation per our Economic Whitepaper. At
mainnet launch, Coda will have an initial supply of 1 billion tokens.

Can non-technical members become Genesis Founding members? How many of your
1000 slots are still available?

Absolutely! We see Coda as a decentralized network and currency built by its participants, and
this includes users with many different sets of skills. The majority of the 1,000 Genesis
Founding Member slots are still open, so hop on over to our website to start getting active on
our testnet.

If you were to meet all of your goals, what would Coda look like in 5 years? What kind of
clients would it have on board and what kind of social impact does Coda have in the
blockchain space?

Coda is built first and foremost for developers.

In 5 years we see Coda enabling internet users to exchange value from any app. This will allow
any developer and business owner to easily accept money and new novel types of tokens from
anyone around the world from any device. We recognize that such a future is not built just by
one company. This is why we emphasize inclusivity above all else and are encouraging people
of all backgrounds to participate at this early stage through our Genesis program. Only by
supporting diverse participation today can we be sure the system will be equipped to serve the
diverse, global population of internet users.

CryptoTapas wishes all the best to Coda Protocol.

Thank you for reading and sharing this article and if you have spare satoshis lying around – consider donating.

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We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Interview

“The Asensys system delivers 1,000 times the throughput and 2,000 times the capacity of the Bitcoin and Ethereum networks” Says Dr. Brendon Wang, founder of Asensys

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Asensys AMA with CryptoTapas

There are over 5100 crypto projects that are listed on CoinMarketCap. This is not a complete list though, there are 1000s of other blockchain/crypto projects that are out there that are not listed on CMC yet for various reasons (one big one is they may not have their own cryptocurrency to trade). 

With 1000s of Crypto projects already existing – it is difficult to get excited about new projects.  However, when you hear about a project that is conceived and built by a Lead Researcher who lead the team at Microsoft on Distributed Systems, you want to learn more.  

Brendon WangDr. Brendon (JiaPing) Wang, along with Co-Founders Minghao Pan and David (Xiaobing) Zhang, has conceived of an idea that could increase the current transaction speeds by 1000s of times that of Bitcoin or Ethereum. The exciting part about Asensys is its performance increases with the user base. The more users who use the network the faster the network becomes.

This counterintuitive novelty could give Asensys the edge in the blockchain space.  But, is it all hype or is there mettle in this project?

We wanted to find out directly from the founder.  This exclusive Q&A with Dr. Brendon Wang is geared to provide great insight to the reader about Asensys.

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CryptoTapas Q&A

1) How would you describe Asensys to an already confused novice with 2000 odd projects in the market?  What sets it apart?

To understand Asensys, you first need to understand the problem we are solving. Bitcoin revolutionized finance by introducing the first peer-to-peer electronic cash system. Its brilliance lies in the fact that two individuals can exchange value without verification from a third party intermediary, upending the system we’ve relied on for centuries that gave undue power to trusted, centralized entities like banks and governments to validate transactions and provide legitimacy to currency itself. The way Bitcoin circumvents the need for trusted, centralized validators is by outsourcing verification to a decentralized web of computers, called nodes. This means that every transaction and action on the network needs to be broadcast and replicated by all nodes, a process that takes time—too much time to meet the needs of the fast-paced digital economy. This issue of how Bitcoin and all blockchain networks can scale has been one of the biggest roadblocks to adoption of cryptocurrency and blockchain systems to-date.

One obvious way to improve the speed at which blockchain networks can process transactions is to decrease decentralization. The more centralized a system, the fewer nodes need to be communicated with to replicate the action. However, decreasing decentralization compromises the security of the network, making it more vulnerable to a 51% attack—when a majority of nodes collude against the whole to update the chain of transactions in their own interests (AKA: cheating). Incentives are designed to deter nodes from weakening the network, as they stand to benefit from a fully-functioning blockchain, but most members of the crypto community believe weakening security is a bad idea. Furthermore, decreasing decentralization is contrary to the spirit of cryptocurrency that drew so many of us to cryptocurrency in the first place. 

What we’ve done with Asensys is introduce a way to dramatically reduce over-redundant actions across the network (the main culprit contributing to blockchain latency). Our novel solution utilizes Asynchronous Consensus Zones to essentially “divide and conquer” all intra-network tasks into “mini” networks, which are independent and parallel zones.

Dividing workload produces substantial performance lift for the entire network, but it raises two problems: cross-zone transaction handling, which is when a user in one zone transacts with a user in a different zone, and mining power dilution. Asensys addresses the efficiency issue of cross-zone transactions with eventual atomicity and the security threat of mining power dilution with Chu-ko-nu mining.

Eventual atomicity enables transactions to be verified and executed in the zone where the transaction’s first state was initiated. Groups of operations are then conveyed to other zones in relay transactions, but the data pertaining to the transaction remains in the zone in which the initial state resided.

Chu-ko-nu mining protects each zone and the entire network against a 51% attack by incentivizing miners to create multiple blocks for different zones with a single nonce, which enforces even distribution of mining power across zones.

2) Most projects do well in a test environment but fail miserably when it comes to real world application – what factors contribute to this variance and how is Asensys going to circumvent these very issues?

We have conducted an in-house experiment to simulate how Asensys will scale as more users are added to the network and greater capacity and throughput are required. The results demonstrated that performance by the Asensys protocol increases proportionately to the community size. This means that as the user base grows, Asensys becomes even more efficient at processing transactions. In a test including 1,200 virtual machines worldwide to support 48,000 nodes, the Asensys system delivers 1,000 times the throughput and 2,000 times the capacity of the Bitcoin and Ethereum networks. The below graphs are from our whitepaper.”

Linear scaling

cross zone transactions

3) Your claims are in line with companies like Credits, Hedera Hashgraph, etc., all of which have raised substantial capital to fund their projects.  How big is your team to gain traction for Asensys and how are you going to fund it?

I lead a global team working from the United States, China, and Germany. Co-Founders Minghao Pan and David (Xiaobing) Zhang are based in Frankfurt and Shanghai, respectively. Michelle Chuang leads Audience Engagement and Customer Experience for Asensys. She comes to us with over 20 years of experience in marketing and customer engagement and has led key initiatives for companies such as Starbucks, Chevron and Staples Inc. We have funding from angel investors who are also high-profile leaders in technology, news that we will be [releasing] very soon.

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4) Will you have your native currency on Asensys?

Asensys will have its own currency just like Bitcoin and Ethereum to incentivize miners to add blocks of transactions to the chain. Ultimately, however, Asensys intends to be the underlying system powering a decentralized web of applications, each capable of issuing their own tokens.

5) Is your network designed to support micro transactions, and will it be blockchain platform (bitcoin/ethereum/ripple/etc.,) agnostic? 

Asensys is its own infrastructure layer, distinct from Bitcoin, Ehtereum, Ripple, etc.

6) How does Asensys’s unlimited scalability translate to a real world business use case, can you give an example that can be understood by a non-technical business person?

Asensys will be the system powering the decentralized web, which will be comprised of dapps for entertainment, finance, healthcare, e-commerce, education, and more. Just as developers can build on Ethereum, they will be able to build on Asensys without concern for its capacity to scale as the number of users grows. Asensys has a programming language, Parallel Relayed Execution Architecture Language (PREAL), specifically designed for blockchain systems and based on asynchronous consensus zones (just like nVidia has CUDA language to GPU programming). PREAL is based on a functional programming model that allows developers to describe transaction logic without concerning themselves with the underlying parallel blockchain system. 

7) We only saw Academy research reference on your site, is there a white-paper or document that describes Asensys and contrasts it with existing projects?

If you’d like to learn more, please refer to our whitepaper, which describes the details of our system in great detail. This research was also presented at the prestigious NSDI’19 conference. We are continuing to add to our website and build our community. Feel free to follow us on LinkedIN and Twitter channels for updates on news and developments:

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All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Interview

“We democratize the investment space,” says Ilia Obraztsov, CEO of Smartlands.io

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Smartlands Interview with CryptoTapas

Tokenized real estate is definitely an area with greatest potential for the security tokens to shine.  

Imagine owning a piece of real estate that is otherwise out of reach if you were to own it as a whole?

That imagination is now a reality.

Thanks to projects like Smartlands, retail investors are now able to invest a small amount of capital, we are talking about $100 or $500 or whatever works for your personal financial situation, into a real estate investment which would have been confined to venture capitalists and big guys only few years ago.

Democratizing the investing space with fractional ownership

Smartlands recently completed a successful security token sale on a student accommodation in UK and reached £1,000,000 funding target..

“Buy-in threshold started only with £500 in fiat or cryptocurrency. By putting investment process on blockchain, we remove multiple middlemen and complicated structures, opening new opportunities for retail investors around the globe. . We democratize the investment space,” says Ila Obraztsov, CEO of Smartlands.

The idea of owning a piece of income generating real estate with a fractional investment cap is an idea that needs democratizing and Smartlands is playing a vital role in the UK market.

Soon, they want to take this idea to global markets. Smartlands already has an ambitious plan to start their service in the US in 2020 while increasing their footprint across Europe.

Providing alternative liquidity: Bulletin Board

To security tokens is similar to selling securities. Which means, you have to get through all the legal and licensing requirements that of an actual exchange. Getting a license to trade securities is very tough and sometimes long arduous process.

While Smartlands is looking to procure a license to trade in security tokens, it has a novel solution in the interim.

Smartlands offers a bulletin board.  

This is a pure peer-to-peer transaction where individuals interested in selling a certain security token will post it on the board and those who are interested will then get in touch with the seller through the bulletin board.

The atomic swaps happen on the Stellar Network, once the seller and buyer come to an agreement.

In Ilia’s own words “we have an intermediary solution that we call bulletin board.  People who want to sell their security tokens will post it on the bulletin board and those interested will buy them in a pure peer-to-peer transaction using atomic swaps.”

In the meantime, Smartlands has an agreement with Archax, an institutional-grade exchange, to list security tokens issued on its platform by the end of this year.


Big plans to tokenize real estate across the world

With the confidence gained from successful security token sale in the UK, Smartlands is expanding its international presence. To fuel its expansion plans company is offering an equity stake in own Holding company to raise the needed capital.

These plans include opening operations in the US.

“The biggest news right now is that we are open to sell an equity stake in the company to raise the capital to further our expansion plans. Please note that it’s not an STO, it’s a traditional fundraiser with shares in Smartlands for offer. You can find more information from our official announcement, or email us at venture@smartlands.io” Ilia said.

We wish all the best to Smartlands.

Here is the transcript of the interview with Ilia Obraztsov.

Interview-Smartlands

CryptoTapas: Tell us a bit about yourself and how you got started with Smartlands?

Ilia Obraztsov:
Before starting with Smartlands, I was a CTO of a Pando Innovations and worked with a lot of startups to develop a Minimum Viable Product (MVP) in Silicon Valley.   Each year, we had about 20 startups in the portfolio and they were all diverse. During this time, I was involved with projects in AI, big data, Hyperledger and Stellar.

CryptoTapas: What is your elevator pitch for Smartlands?

Ilia Obraztsov:
Smartlands is a global platform for issuing digital securities in compliance with Financial Conduct Authority regulations. We aim to bring together token issuers and investors by creating blockchain-based securities backed by digital ownership of shares in multiple asset classes. By leveraging blockchain technology, we introduce a unique crowdfunding model which dramatically reduces costs of raising capital, opens access to higher-yield investment opportunities both to institutional and retail investors, and in the long run drives global financial inclusion.

CryptoTapas: Do you guys pick the projects that are already in business or do also encourage startups?

Ilia Obraztsov:
We have started incorporating startups with disruptive technology fund last week. However, our main focus is projects with high or medium yields.  We are not promising sky-high returns but we are focusing on preserving and increasing the capital while providing a decent rate of return.

We are looking at a 15% to 20% rate of return.

CryptoTapas: Generally speaking, when you invest in a startup your capital is locked and generally you don’t see any return unless the company has a successful exit or goes IPO. Do you guys create a market for the initial investment without having to wait for an exit or an IPO?

Ilia Obraztsov:
Liquidity is a tough question.

Several platforms for trading of security tokens are in development but they are not launched yet. For one, by nature security tokens are securities as such to trade them you need platform licensed to trade securities. 

There are few platforms that do facilitate trading of security tokens, however, such trades are restricted to institutions or accredited investors, not retail investors.

Smartlands does plan to get a Multilateral trading facility license (MTF) to facilitate security token trading, however, that is not an immediate solution that is available due to the process involved in acquiring the license.

In the meanwhile, we have an intermediary solution that we call bulletin board. People who want to sell their security tokens will post it on the bulletin board and those interested will buy them in a pure peer-to-peer transaction using atomic swaps.

We implement this atomic swaps on the Stellar network. 

CryptoTapas: Is this peer-to-peer atomic swap available for all projects on Smartlands?

Ilia Obraztsov:
There may be some restrictions based on specific offerings, however, from a technology point of view, it is possible to offer atomic swap for all projects.  The question that we have to answer is from a legal requirements point of view. 

However, because this is a peer-to-peer transaction – there will be fewer restrictions.



CryptoTapas: What are the qualification requirements to participate on Smartlands?

Ilia Obraztsov:
Users have to complete KYC and AML verification process by submitting their passport and other documents to establish their identity.

They are also required to go through a knowledge test to make sure that they understand the risks of investment. For sophisticated investors who want to invest higher amounts we may also require proof of source of funds or other documents.

CryptoTapas: Are the services available in the USA?

Ilia Obraztsov:
Currently we are not allowing any American investors at this point, however, the USA is in our development timeline. 

We are now inviting investments and we will be using these funds to expand our operations worldwide, including obtaining necessary licences to run compliant STOs in the USA.

CryptoTapas: What qualifies for a project to be listed on Smartlands?

Ilia Obraztsov:
First of all, it has to be a real world asset and in case of a startup – it has to be a later stage startup.

We focus on the investment return of the proposed project and the possibility of achieving the goals.

CryptoTapas: How big is Smartlands team?

Ilia Obraztsov:
We have three offices in Europe and have around 20 people working on the project.

Smartlands Team

CryptoTapas: What are your goals for Smartlands in the next 3-4 years?

Ilia Obraztsov:
Opening multiple offices around multiple jurisdictions facilitating for retail investors to be able to invest in multiple jurisdictions through single KYC/AML process is one of our goals.

We also want to tokenize one billion of assets by 2024.

In addition, we are also planning to make Smartlands a platform for others to offer security issuance services on. In other words, turning Smartlands into a security-token as a service platform. 

This is a big idea because we have to ensure we are compliant in all the jurisdictions we operate or provide services in.  We know it is possible and we are working towards that goal.

Check out the roadmap here.


CryptoTapas: Do you guys provide end-to-end securities solution or do you only help raise the capital through security tokens?

Ilia Obraztsov:
We provide end-to-end solution. We are one stop-shop solution.

We manage KYC/AML to onboard investors.  We help companies run their campaigns on our platform and also provide post-issuance services like dividends distribution and investor communications.

CryptoTapas: What are the sources of revenue for Smartlands to sustain?

Ilia Obraztsov:
Our main source of income is the fees. We charge companies for issuance and there is investor fees for use of the platform.  We charge our fees in our native tokens. The fee schedule is:

Platform Transaction Fees: 2% of the value of investment.  Custody Fees charged by Globacap Ltd: 0.25% of the value of investment. Distribution Fees charged by Globacap Ltd: 1% of distribution amount. 

Foreign Currency Exchange Fees: If investing in EUR or USD, you will be notified of the agreed exchange rate from EUR or USD to GBP prior to or at the time of such Investment by the Smartlands Platform. The exchange rate will only be valid for a certain specified period.

XLM to fiat Conversion Fees: If investing in XLM, you will be notified of the agreed exchange rate from XLM to GBP prior to or at the time of such Investment by the Smartlands Platform. The conversion rate will only be valid for a certain specified period. 

Bank Transfer Fees: These will be charged at the applicable rate.

CryptoTapas: What excites you to work on the Smartlands every day?

Ilia Obraztsov:
When I was working as a freelancer, I was making a decent amount of money.  I know it is not in vogue for millennials to think about investments and retirement, but I was thinking about investing the money I earned. 

I was researching a lot but most investments did not make sense to me. Real estate was an investment that made a lot of sense but needed a lot of capital to invest.

During that time – I came across Smartlands. The idea that retail investors could own a piece of real estate by investing $100 or $500 or whatever they want to was amazing.  The concept really spoke to me. 

The success of Smartlands is also a matter of pension fund for me personally.

CryptoTapas: Talk a little bit about the risks of investing in smartlands?

Ilia Obraztsov:
Every investment comes with risk. Smartlands also comes with risk, for instance, let’s say one of the properties gets damaged.

Having said that, we are very selective in picking the projects that yield a  15% rate of return on investment while backing the investment with a real world asset.  So in 3 years, investors are gaining 50% of their investment.

Individuals are investing in the companies that are in turn investing in real world assets.  These companies are then maintaining the property and paying dividends on the investment.

CryptoTapas: What are the immediate things lined up for Smartlands?

Ilia Obraztsov:
The biggest news right now is that we are offering an equity stake in the company to raise the capital to further our expansion plans.

You can find more information from our official announcement.

CryptoTapas: Thank you very much for giving this opportunity, it was a pleasure talking to you.



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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

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