CoinOffering has been legally registered in the Marshall Islands and has become the first market space in the world, offering shares that are represented by tokens issued in the smart contract deployed on Ethereum blockchain.
According to the website, CoinOffering makes use of an advanced system for internationally recognizable digital signatures. With the help of Cryptonomica.net system, Ethereum account owners can be verified. Legally registered companies with the help of Ethereum smart contract can perform functions including voting, paying dividends, distribution of share among others.
“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 enterprise and receive all shareholders’ privileges. We make IPO for businesses cheaper and offer extensive possibilities for crowdfunding on a unique exchange,” Ivan Starinin, the company’s CEO said as reported by Coinfox.com.
According to Coinfox, smart contracts help in creating a register of shareholders that offers instant shares purchase and transfers. This will make sure of transparent voting and enables to automatically pay out dividends. The company also plans to introduce its own trading platform which would enable firms to raise money by crowdfunding or angel investment.
