Blockchain summits - Zurich #3
Chainium ICO
They are reinventing the global equity market - disrupting the way businesses raise capital and the way investors buy and sell shares. Their purpose-built blockchain is specifically dseigned for digital share transactions. Their goal is a truly global decentralised network to buy and sell shares.
Easier said than done. Chainium is founded in Liechtenstein and the founder Team has been working together for quite some time now. I did talk with them but I don't remember the exact business the were working in. I think it had to do with listing private companies for the stock exchange. well, don't know don't really care.
What they have in mind is a very nice approach to the currently only for the super rich optimised stock exchange. If you have a privat company (GmbH, or whatever your term is in your country) and you want to sell some part of your company to investors. Basically like a stock exchange where you have an IPO.
Well stock exchange was yesterday. Chainium's main advantage is the global factor. Blockchain might be usefull as well to store all the data who own how much of which company. But the real gamechanger might acctually be the fact that you don't need no NASDAQ or SIX or DAX no more and everybody that owns chainium coins can purchase company equity.
When I was talking with them I told them about https://www.robinhood.com/ a company in the USA that let's you buy stock not trough a bank but trough them.
In europe no such thing exists because the banks earn money with the fees (commisision) for buying and selling stock trough them.
this means if you live not in US you'll have to make a portfolio account with a bank and then tell them what to buy for you (of course automated - online trading) but this still sucks because you are paying the bank every month for hosting your account and every time you sell and buy - that is huge fucking red flag that needs to be destroyed.
I don't like to get screwed by banks but apparently we got accostumed to the fact that banks make profit with our money by investing it and give us lowlifes an interest rate of > 1%
This works because the vast majority people have no real alternative to regular banks when they still want to use the services provided.
If you want an alternative to regular banks check out https://www.revolut.com/ I think they are legal / legit
or follow https://bankera.com/ they just raised over 100million in their ICO and just bought a bank because it would take them a long time to aquire a banking license. well they had the money and if they don't spend it they will have to tax it. they have their own exchange platform and will be huge one day if they don't screw it up.
I did learn a lot at the BC-summits also about the regulation and why so many companies come to Zug Switzerland for that. Tax haven of course but also the swiss regulations about cryptocurrencies.
This is a topic in itself and even though it's rather interesting I will probably never make a post about because it's complicated and if you're not familiar with all the terms and existing regulations (FINMA in switzerland) that apply to assets like stock and other old-age investor stuff but do not apply to crypto because crypto is apparently not an asset.
Crypto is apparently a foreign curreny and has to be handled like that when doing your taxes.
As if we would declare to own crypto.
If somebody understands this subject, please I'd like to know because 80% of all the ICO's have no fucking clue apparently.
Chainium... not much else to say but FUCKING AWESOME
If they pull this off - and they might as well do - they are going to rule.
Because you can think of them as the combination of every stockexchange around the world on one decentralized hosted platform on the web where everybody can buy and sell equity.
Just imagine you can invest in "real companies" that actually make revenue not like an ICO because no tokens of their own.