CoinOffering Becomes First Company to Issue Shares in Ethereum Blockchain

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The world’s first company offering shares issued as Ethereum tokens has been registered in the Marshall Islands. Unlike its predecessors, it functions both in the virtual and in the legal fields.

According to the new company CoinOffering, now legally registered companies will be able to carry out many functions (share distribution, paying out dividends, voting) through an Ethereum smart contract.

The open source code for this smart contract and texts of the company’s legal documents are kept on GitHub, and those who want to create similar companies are invited to use them. Moreover, CoinOffering is ready to offer them legal and technical support,  writes Lyudmila Brus from Coinfox:

“CoinOffering is a real revolution in the blockchain world. We have managed to do something many other companies had tried to achieve – to bring together the legal and the technical worlds. Buying the tokens, you are purchasing real shares in the company and receive all shareholders’ privileges. We make IPO for companies cheaper and offer wide possibilities for crowdfunding on a unique exchange,” says Ivan Starinin, the company’s CEO.

CoinOffering explains that smart contracts help to create a register of shareholders which provides instant purchase and transfer of shares, it ensures transparent voting and makes it possible to automatically pay out dividends. The project provides conflict resolution through international commercial arbitration.

“We neutralise the main disadvantages of an offshore company – nontransparency, the lack of efficient dispute resolution mechanisms while maintaining its advantage – the tax-exempt status,” says the company’s CCO Viktor Ageyev.

In the future, the company plans to launch its own trading platform that would enable companies to raise money via crowdfunding or angel investment.

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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