Harbour Makes It Easier to Identify Trading Regulations and Comply with Them

Despite the growing interest in initial coin offerings (ICOs), the now vastly adopted method of fundraising for startups and recognized businesses alike still have a hard time establishing its credibility with the authorities.

The authorities insist that they have their reasons when it comes to taking this approach towards ICOs, stating that they do not just put investors at risk due to being unregulated, but are a very easy way of having unlawful entities to partake in money laundering activities as well.

To counter this, more and more reputable companies – such as TZero that is backed by Overstock.com – are looking towards having their ICOs closely regulated by authorities like the U.S. Securities and Exchange Commission (SEC).

However, with the number of ICOs that are opened each day, having each of them closely regulated in this manner would take weeks at the very least, which causes the problem to stay right where it was.

Here comes Harbour

Harbour addresses this very evident problem by providing its blockchain-based solutions along with its Regulated Token Standard (R-Token) protocol, which has functionalities built within the token to identify that the token being provided has gone through regulatory requirements such as anti-money laundering (AML) and know your customer (KYC).

The R-Token is going to be a standard ERC20 token with additional capabilities to check its required functionalities from chain to chain whitelist. That whitelist will provide it with information about any enforced requirements such as tax laws, and the token will only get traded after verifying that those requirements have been met.

It will also allow customization of requirements so that anyone trading in the R-Token can leverage from its capabilities to ensure that they are meeting the regulatory requirements set by their jurisdiction.

It does not only want to work for ICO’s, but aims for larger assets

With these capabilities, one of R-Token’s main goals is to revolutionize the medium of asset tokenization.

R-Token aims to target traditional investors to bring them to blockchain so that any large assets such as real estate properties or bonds can be tokenized, and their regulatory requirements can be tracked easily by R-Token’s regulatory capabilities.

The team behind R-Token is very confident of its venture and aims to redefine the way that conventional trading works in today’s day and age.

Its successful funding round has been promising

The team behind R-Token is very confident of its venture and aims to redefine the way that conventional trading works in today’s day and age.

What alludes towards its success is the team behind it, which among other names, also has the former COO of PayPal, David Sacks – who also incubated Harbour for a year.

Harbour held its seed-funding round recently and raised $10 million from multiple investors such as Valor Equity Partners, Fifth Wall Ventures, Vy Capital, and Sacks’ venture fund, Craft Ventures.

While sounding ambitious, the project certainly addresses an existing problem and could very well provide a solution to it. It will be interesting to see how it can achieve this feat, and if it gets to revolutionize asset trading the way that it intends to do.

By | 2018-02-20T14:47:00+00:00 February 20th, 2018|News|0 Comments

Leave A Comment