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Friday, May 7, 2021
Home News CoinOffering Becomes First Company to Issue Shares in Ethereum Blockchain

CoinOffering Becomes First Company to Issue Shares in Ethereum Blockchain

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.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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