A ‘Wyoming loophole’ to Carry Out Crypto Transactions Without BitLicense in New York
There may be a new way of by-passing the tough New York laws to carry out crypto-related transactions in the world’s capital without acquiring a BitLicense, a crypto license developed by the New York Department of Financial Services (NYDFS) in 2014.
Wyoming offers crypto companies a loophole
According to a report from members of the committee that drafted laws to govern the crypto banking sector in Wyoming, the state will have the power to charter Special Purpose Depository Institutions (SPDIs), a reserve bank that can act as a crypto custodian. Now, these SPDIs open a loophole that may well allow banks to open branches in NY and carry out their business without the need for a BitLicense.
Cool, right?
The loophole first came to light through a tweet sent out by Caitlin Long, member of the Wyoming blockchain taskforce, claiming a solution to the long-standing BitLicense problem. A number of companies have come out publicly rebuking the methods employed by the NYDFS before offering the license. With only 18 BitLicenses dished out since the launch half a decade ago, a multitude of crypto businesses has been locked out of the state during the period. Chris Land, general counsel of the Wyoming Division of Banking, spoke during the Coindesk Invest conference held in New York assuring companies a Wyoming SPDI can
start operations in the city.
“We are fairly confident that the Wyoming SPDI will be able to operate in New York without a BitLicense.”
How exactly do you bypass NYDFS BitLicense?
According to the thread of tweets by Caitlin, the SPDI license from Wyoming offers the banks a state charter which in turn allows operation in about 42 states across the U.S without need for additional licenses. According to Federal law, state-chartered banks of other states, similar to national banks, should have similar laws applying to them and exempted from them.
For instance, in our case, the NY law exempts national banking institutions from acquiring a BitLicense which means most certainly a state-chartered bank (such as Wyoming’s SPDIs) would be exempt from acquiring the license before setting up a business. However, for some states, NY included you will need to open a branch in the state before starting operations. With the cryptocurrency industry growing as more companies and SMEs integrate these innovative solutions to their business systems, and now an opportunity presenting itself, it is only a matter of time before firms take on the loophole. We’ll wait and see.
Article Produced By Lujan Odera
Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist.
Brooklyn Nets Point Guard Looks To Break New Ground In NBA With Tokenized Contract
Have you ever wanted to invest in an NBA player's future? It might be possible in the upcoming season.
Spencer Dinwiddie, a Brooklyn Nets point guard, is planning to securitize his NBA contract in the form of a digital token asset tied to his three-year, $34 million contract extension. The decision would allow Dinwiddie to raise money upfront, as opposed to waiting three years to be paid out in full, and investors would be paid principal plus interest over the course of the deal.
The Deal
Dinwiddie is planning to start his own company to sell the offering and make investments upon fundraising, according to Fox Business. “This is a newer concept utilizing the power of blockchain and crypto and bypassing a third-party intermediary. We will see how it goes and if it’s successful — and whether the league has an opinion on [whether] this is something that should be allowed under the current collective bargaining agreement,” sports attorney Darren Heitner told Benzinga.
Little else is known about the extent of the offer as well as what Dinwiddie plans to do with the money he raises. The move is certainly not without risk, and Heitner recommends potential investors do proper due diligence before investing. “To an extent I believe he is breaking new ground, and I hope he is resting on the advice of his advisors, but I certainly wouldn't advise this route to any of my clients.” Dinwiddie is certainly not without competition on the court either, after his team signed point guards Kyrie Irving and rookie phenom Jaylen Hands in the offseason.
New Zealand Legalizes Payment Of Salary In Cryptocurrencies
According to the August bulletin published by New Zealand’s tax office,
also known as the Inland Revenue Department (IRD), the government has made it legal to receive salaries in cryptocurrencies, and be taxed accordingly. The agency published a new ruling under the Income Tax Act (in relation to section RD 3), where it states that any employee can receive cryptocurrencies as a salary as long as these payments are related to the services performed under an employment contract. Said services must be performed for a fixed amount and form a regular part of the employee’s remuneration.
The crypto assets have to be paid in accordance with the working contract, but most importantly, the cryptocurrencies have to be able to be exchanged for fiat if the worker desires to do so. Cryptocurrencies also must have the primary purpose of acting as a currency or be pegged to the price of one or more fiat currencies. The bulletin further states that any salary paid in crypto assets will be treated as PAYE (pay as you earn) income payments. These types of taxes are deducted by the employer and passed onto the tax department directly. This ruling is set to go into effect on September 1st, 2019.
Alexa Ranks Electroneum among Top Five Cryptocurrencies Ahead Of XRP, Tron
In spite of the pullback witnessed on the market table,
Electroneum is proving that it is not a dead project. Electroneum continues champion the record of project with the largest initial coin offering (ICO) with over 115K participants. The support garnered from the community birthed another blissful development. Report has it that Alexa, an offshoot of Amazon.com company, rated Electroneum among top 5 cryptocurrency after Bitcoin, Litecoin, Bitcoin Cash and Stellar. According to Alexa, Electroneum saw 322,000 average visitors and 1.78 million pageviews last month, making it rank among top cryptographic projects ahead of the likes of Tron, XRP
and others.
“We aim to run a fully transparent project and continue to undertake initiatives towards this goal. It’s for this reason, last year, we installed Alexa certified metrics code onto our website”, Electroneum CEO Richard Ells clarified. “We’re incredibly proud that Alexa continues to rank our project in the top five cryptocurrency projects by website visitor numbers, amongst other leading projects including; Bitcoin, Litecoin, Bitcoin Cash and Stellar.”
Electroneum project’s transparency is also a backbone behind this success. Within the space of two years which the crypto had existed, its user-base had reached 3.2+ million worldwide.The engagement of the blockchain project has also increased by 150% since July with 122,000 followers.
Article Produced By Khalid Lawal
I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day.
Japan Wants to Rival SWIFT With a Cryptocurrency Network
Japan is a prominent country forblockchain and cryptocurrency activity.
So much even that government officials are building a new type of infrastructure. It is labeled as the “SWIFT of cryptocurrency”, although living up to those expectations won’t be easy. This new network will be used on an international scale and aims to thwart money laundering.
Japan Doubles Down
Over the past few years, Japan has become a key region for cryptocurrencies. It is one of the few countries to openly embrace this form of money and legitimize it. Several of the country’s biggest stores accept Bitcoin payments directly as well. This further goes to show Japan firmly believes Bitcoin is here to stay. Regarding altcoins, the situation is a bit less clear. Alternative markets are always hit-and-miss in every part of the world. To improve upon the existing situation, a new project is under development. The Japanese government confirmed it aims to build an international network for cryptocurrencies. This network is designed to mimic SWIFT in terms of cross-border partnerships and access. However, it will seemingly have little or nothing to do with traditional banks in that sense. It is evident that this new project will be very different from what the world has seen to date.
Global Collaboration
Based on the little information provided to us, it seems the goal is to develop this project in conjunction with other countries. Which countries those would be, has not been communicated at this time. The Financial Action Task Force of Japan will set up a team dedicated to monitoring the development of this new network. How all of this infrastructure is designed to operate, remains a big mystery. Not too many details are known at this time. We do know the FATF approved a plan to establish a new network in June of 2019. At that time, there were rumors regarding the involvement of cryptocurrencies. Those rumors have now been confirmed. By claiming this network will rival SWIFT, high expectations are associated with it. Delivering on those expectations will not be easy by any means.
Legitimizing Cryptocurrency One and for all
One thing is adamantly clear. Japan wants to push global cryptocurrency adoption to a new level. The main focus lies on bringing more security to this nascent industry. By actively addressing money laundering concerns, a crucial first step is taken in the right direction. Japanese officials also hope this network will stimulate economic growth in the country and beyond. Regulation and cryptocurrency make for an interesting combination. A lot of Bitcoin enthusiasts aim to keep these apart as much as possible. Others see merit in regulating this industry. How this SWIFT rival will factor into all of this, is a guessing game at best. It is certainly something worth keeping an eye on in the years to come.
The current Entrepreneur Upgrade is the premium highest level you will ever have the opportunity to acquire. It contains all the leveraged advantages you need to accelerate your success in Markethive. Cost $100 per month:
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Crypto Funds Are Outperforming – You Shouldn’t Be Surprised
Buffet won handily. It’s not that Buffet didn’t think there were capable investment managers out there;
Buffet’s Berkshire Hathaway has often been described as a giant hedge fund. Instead, his confidence relied on his intuition that between fees and trading costs, even the best hedge fund managers would struggle to beat a low-cost index fund. We might logically assume that crypto hedge funds, which generally have a 2 and 20 fee structure similar to that of their traditional counterparts, would suffer a similar fate.
But since the beginning of 2017, when reliable data became available, the result has been quite the opposite. An equal-weighted index of crypto funds significantly outperformed bitcoin and most other crypto assets. The CFR Crypto Fund Index tracks more than 40 crypto funds, mostly hedge funds, across a variety of strategies. It shows that even as bitcoin climbed about 1,000 percent between January 2017 and June 2019, crypto funds gained more than 1,400 percent. The outsized performance of crypto funds over this period might puzzle the Oracle of Omaha, a man who once described bitcoin as “rat poison squared.” Even without Buffet’s bias against crypto or hedge funds, there are a few reasons one might be surprised:
Performance fees are by nature punitive to returns during bullish periods
Creating a portfolio that can outperform skyrocketing single assets is no small feat
Crypto fund managers tend to be less experienced than their traditional counterparts
Despite these apparent headwinds, crypto funds did outperform. So let’s examine these perceptions a bit more.
Performance fees are too punitive in bull markets
Few investment assets have ever experienced a 12-month bull run like that of crypto assets in 2017. That’s fantastic for fund managers taking home 20 percent of profits, but certainly eats away at returns. Several crypto funds returned more than 1,000 percent in 2017 – meaning by year-end a fund manager could have taken home more in fees than the fund had assets to start the year.
Still, most crypto funds have a 2 and 20 fee structure similar to traditional hedge funds and many have high water marks (essentially to ensure managers don’t get paid for performance when a fund is below all-time high). So while crypto fund performance fees have been staggering in absolute terms, the fee structure is no more of a hindrance to crypto funds than to traditional hedge funds.
Diversified portfolios struggle to keep up with single assets
It’s hard to imagine any asset overshadowing bitcoin’s 12x performance in 2017. But that’s exactly what happened. Some other coins were up 100x or more. The Bitwise CCI 30 Index, which measures the performance of the top 30 cryptocurrencies by market cap, was up 42x. So how exactly did crypto funds outperform during 2017? They didn’t. Not even close.
Crypto funds collectively returned a relatively underwhelming 1,000 percent. Sure, these funds returned more in 2017 than traditional hedge funds have in the past 20 years. But everything is relative. And relative to top cryptocurrencies, crypto funds had a disappointing year. The story of crypto funds’ outperformance truly began when crypto winter cast a chill over the entire industry in 2018. Philanthropist and investor Shelby Cullom Davis said: “You make most of your money in a bear market, you just don’t realize it at the time.” It was one heck of a bear market.
In 2018, bitcoin lost nearly 75 percent of its value. The CCI 30 Index lost 85 percent. The CFR Crypto Fund Index, however, was down “only” 33 percent. Or put another way, while crypto funds preserved 4/6 of their value, the CCI 30 maintained less than 1/6 of its value. As the chart above shows, this ability to preserve capital during 2018 propelled the crypto fund index ahead of bitcoin and other cryptocurrencies. From Q1 2017 through Q2 2019, the CFR Crypto Fund Index has returned 1,430 percent. This easily bests bitcoin’s 1,022 percent return and narrowly surpasses the 1,413 percent of the CCI 30.
Crypto funds lack experience
After overcoming their fee structures and whipsawing crypto markets, crypto fund managers had a final hurdle to overcome: inexperience. It’s difficult to directly compare the total financial experience of managers across disciplines. However, we can look at the average age of funds. A recent study published by Loyola Marymount University (LMU) found the median age of traditional hedge funds was 52 months. This is a lifetime in the crypto world. No crypto funds in the CFR index have been operational for 52 months and the median age is just 16 months.
This inexperience should hurt crypto fund returns, right? Not necessarily. Somewhat counterintuitively, the same LMU study found traditional hedge fund returns decrease with age. And not by a negligible margin. Hedge fund returns in year one were more than triple those in year five. After year five, the study found, “some funds become liquidated and the pattern is somewhat mixed.” So inexperience, which would seem to be a significant headwind for crypto fund managers, may actually have been a tailwind propelling their performance past ahead of bitcoin and other benchmarks.
Reasons for caution
That crypto funds have outperformed various benchmarks is encouraging. But there’s also plenty of reason for institutions to remain cautious. The index covers barely one market cycle. Buffet’s index fund didn’t take the lead over hedge funds until year four of the ten-year bet. The index has less than 50 constituent funds. While the largest in the industry, it’s quite small compared to traditional hedge fund performance indices which can include thousands of funds.
There are potential biases. Since reporting is voluntary, and the index includes less than 20 percent of eligible funds, we can reasonably assume that poorly performing funds are less likely to report. Funds with particularly poor performance might have already closed, creating a potential survivorship bias. Though not unique to crypto fund indices, these biases shouldn’t be overlooked by investors. Most crypto funds are quite small by traditional standards and it’s quite possible some strategies that perform well in illiquid markets will not support the same type of returns with more capital invested. Bridgewater Associates, the world’s largest hedge fund manages over $100 billion. Crypto funds manage less than $20 billion collectively.
Despite the potential issues, it’s encouraging that crypto hedge funds seem to have done more or less what they are supposed to, namely preserve capital in bear markets. And with the majority of crypto funds in the index now employing outside auditors, custodians and fund administrators, the industry is becoming less haphazard. The crypto fund industry is still very much in a maturation phase, but with proper due diligence, crypto funds may present institutions, particularly those unwilling or unable to directly custody cryptoassets, an appealing way to get exposure to the sector. Some decentralized architecture is said to have an “Oracle Problem”, but at least so far, crypto funds don’t seem to have an Oracle of Omaha problem.
Article Produced By Josh Gnaizda
Josh Gnaizda of Crypto Fund Research looks into possible reasons behind the relative performance of crypto funds vs bitcoin since Q1 2017.
Why Are S Korean Crypto Projects Going Cool on Domestic Exchanges?
South Korean cryptocurrency projects are abandoning domestic exchanges
in favor of overseas platforms, per a new report. Fn News states that some of the country's newest crypto projects are looking to list in “hotter” markets, such as Singapore and the United States. The bear market of 2018 took a near-fatal toll on many of South Korea’s exchanges, with crypto fever soon turning into a massive slowdown that – despite a recovery in 2019 – has failed to reignite the domestic industry. The industry comprises some 200 exchanges. The report makes note of three factors it says are driving the change:
Low trading volumes in South Korea
Per Fn News’ calculations, only five of the global top 100 exchanges (by trade volumes) are now based in South Korea. “It is no exaggeration to say that outside the market leaders, 97% of domestic exchanges are in danger of closure due to low trading volumes,” author Kim So-ra writes. The news outlet quotes a crypto project CEO as stating, “We were discussing a possible listing with the Prixbit exchange on August 7. Then, two days later, we read in the news that it was closing down!”
Regulatory difficulties
Banking remains a very thorny problem for South Korean exchanges. The country’s “big four” exchanges – market leaders Upbit, Korbit, Bithumb and Coinone – have agreements with major commercial banks that allow them to adhere to government guidelines that require users to verify their accounts with real names and social security numbers. They have also agreed to abide by guidelines that require corporate and customer accounts to be handled separately.
And there are signs that the “big four” are now set to ramp up their restrictions on customer activities yet further, possibly moving as a response to government pressure. Smaller exchanges, however, would prefer to use their corporate accounts to conduct the entirety of their banking activities. This has led to accusations that “blind spots” can appear in crypto banking operations – a factor that leads many banks to reject trade with smaller cryptocurrency exchanges.
Overseas exchanges are looking for South Korean customers
Many platforms are now actively wooing South Korean projects and investors, adding Korean won markets. The report makes mention of exchanges like BW, which already lists South Korean projects Ziktalk, Storychain, PayExpress and Sigma Chain, and plans to open won trading “later this month.” The Singapore-based company began offering transaction fee-free deals to South Korean customers last week to celebrate Korean Liberation Day (August 15).
Watch the latest reports by Block TV.Much-talked about projects like MediBloc, Bezant and Temco are also listing outside South Korea.The Singapore-based Bitholic exchange – soon to rebranded as Bithumb Singapore – also has a “number of domestic blockchain project portfolios” among its listings, notes Kim.A number of South Korean-owned exchanges are actively pursuing overseas expansion – with all four “big four” exchanges opening branches in either the United States or other Asian cities in recent months.
Article Produced By Tim Alper
Tim Alper is a British, South Korea-based journalist, a regular contributor to Cryptonews.com, who covers cryptocurrency and blockchain related news daily, writes in depth analysis pieces about the latest trends in the cryptocurrency and blockchain space. Tim has over 12 years of media experience. He has written for the BBC, the Guardian, the Jewish Chronicle, Chosun Ilbo and many other media outlets, covered cryptocurrency and blockchain related news. He has also collaborated on media projects with the likes of Samsung, Sony, LG, Hyundai, Korean Air, TÜV SÜD and Shell.
If Steemit and Medium Had a Baby: Publish0x Rewards Both Authors and Readers in Crypto
Publish0x, a crypto-agnostic blogging platform, has launched
with the intention to change the publishing industry by rewarding not just authors but also readers with crypto.
No ICO: Publish0x is Crypto-Agnostic
Publish0x didn’t conduct an ICO or raise funds, and it doesn’t have its own token. It is crypto-agnostic, and aims to integrate multiple tokens which can be used to send tips. The business model is to offer different projects the chance to sponsor the site and give out larger tips to all users.Although still in beta, there are over 1,000 users, tipping hundreds of times daily, and several coins have signed up to blog from the platform including Selfkey ($KEY), SpectreCoin ($XSPEC), Syscoin ($SYS), OneRoot ($RNT), Loopring ($LRC), Bounty0x ($BNTY), Banano ($BAN), Qubitica ($QBIT) and others.
Earn Crypto While Supporting the Project You Love
The biggest supporters form some of the best projects in the crypto space have already understood the powerful benefits Publish0x is offering. Hydrogen Project ($HYDRO) and Basic Attention Token ($BAT) supporters have written articles that raised awareness about their favorite projects, and have earned crypto while doing it!
Earn Crypto for Reading: How it Works
When you scroll to the bottom of any article on Publish0x, you will see a “tipper.” The reader chooses what percentage of the tip to keep to himself, and what percentage to give to the author. The minimum percentage of the tip that goes to the author is 20%. All of the tips are completely free to both author and reader. Unlike blockchain-based blogging platforms like Steemit and Minds, Publish0x is crypto-agnostic and doesn’t have its own token. Rather, it pays out in any number of ERC-20 compliant tokens that can be traded on different exchanges.
Article Produced By Investinblockchain
Editorial Staff
Markethive's ILP, What Is It?
Incentivized Loan Program
Think ICO or IEO type of crowd funding. ICOs have come under the scrutiny and attention of Government regulators for their speculative nature and many ICOs have turned out to be total scams. IEOs have sprung up to find a bypass to avoid the regulators scrutiny.Think ICO or IEO type of crowd funding. ICOs have come under the scrutiny and attention of Government regulators for their speculative nature and many ICOs have turned out to be total scams. IEOs have sprung up to find a bypass to avoid the regulators scrutiny.
ICO: Initial Coin Offering often in tandem with a crowd funding or MLM offering. Basically you put up some money and in return you are given tokens which are promised to become coins you can trade on the exchanges. The promoters will publish all their plans as white papers and the reason for the funding is to build out the plan, the dream the construct the technology.
But…
New study says 80 percent of ICOs conducted in 2017 were scams. With 50% of them failing to this day within 4 months and because of this overwhelming failure rate the SEC is hammering down and investors are fleeing from them.
And to make it even worse, 86% of all surviving ICOs their coins are worth far less than the investors paid initially.
Simply put ICOs were a good idea ruined by unethical shysters preying on innocent people.
IEO: What is an IEO? An Initial Exchange Offering, as its name suggests, is conducted on the platform of a cryptocurrency exchange. Contrary to Initial Coin Offerings (ICOs), an IEO is administered by a crypto exchange on behalf of the startup that seeks to raise funds with its newly issued tokens.
IEO participants do not send contributions to a smart contract, such as governs an ICO. Instead, they have to create an account on the exchange’s platform where the IEO is conducted. The contributors then fund their exchange wallets with coins and use those funds to buy the fundraising company’s tokens.
The biggest problem of an IEO is the core problem of too few people owning a majority of the token circulation. This happens mainly because an IEO is limited to one or several exchanges. People that don’t own an account at these exchanges are excluded from the sale, resulting in a small number of people getting their hands on the tokens. Accounts at exchanges need background checks, identity verifications, Know-Your-Customer procedures, all of which takes time. So, if you don’t have an account a day or few days before the IEO, you probably don’t have a chance at participating.
The above reason’s risk is associated to price manipulation. But constricting a coin’s circulation to a single or few exchanges opens up more possibilities for price manipulations, because no one can stop the whales. This also increases the risk of pump and dump schemes. This vulnerability will sway off many investors, because of the risks it poses. That’s why when researching the projects that you want to invest in, you have to take notice of the total token circulation. If the token supply is small and/or is distributed uneven and unfair, it’s highly susceptible to price manipulation and token hoarding.
Exchanges do their due diligence when they list a new token. Risking their reputation if they fail to do so, exchanges are very precise when they list a token, examining and researching the project’s whitepaper, product, team and more so they don’t list a scam project. The shear abundance of scam projects stays in the way of exchanges pursuing to do an IEO. If an exchange makes an IEO, then the token will be listed easier at the exchange, which opens up a vulnerability and strips the project of their obligations to deliver a good product.
Centralized exchanges like most of the big exchanges own the private keys of all wallets and making a trade or a transaction only happens on the exchange and not on the blockchain. That way, investors do not truly own their tokens and most of them don’t trust centralized exchanges. This also opens up the possibility of a failure on the exchange’s part.
When an IEO ends, the token trading starts. But because of the nature of IEO crowdfunding, people that want to invest in the project have to wait for the price to drop. Because of the fact that some investors got a big piece of the pie, these whales can choose to sell for immediate profits, destroying the price of the coin and/or profiting on the expense of small-time investors, removing the incentive to trade the token.
ILP
Not based on speculation but based on performance
Markethive’s ILP means Incentivized Loan Program. Operated independently from or in tandem with crowd funding, the ILPs comparison to the speculative nature of the ICO and IEO ends there. Simply put the ILP means you are lending Markethive money via terms within a smart contract. With attractive interest and loan repayments based on Markethive growth milestones, the ILP also offers and incentive a perk as it is, of a token. This token is based on 1 full token equals one share of about 1000 assigned shares. These shares “share” 20% of the company’s revenue. Revenue projections are based on 4 years of operations with established growth rates in membership signups, revenue upgrades and Alexa growth. In other words, traction.
1 full share is available at $25,000 or fractions of those shares to the single unit 100,000,000th called the BIT. 1 BIT would then be valued at .00025. $100 would acquire 400,000 BITs.
These shares can be traded but more important they will pay out their share of the 20% of the revenue for 20 years based on the ILP token and these tokens will be renewable at term. These shares are also tradeable, assignable and will act similar to a promissory note.
Although Markethive is a global company and will have mining hives and crypto exchanges worldwide, its headquarters reside in Wyoming. Notably, as published in Forbes, Wyoming is the only US state that provides a comprehensive, welcoming legal framework that enables blockchain technology, both for individuals and companies. This is good news for Markethive and its community.
Matthew D. Kaufman of Hathaway & Kunz, LLP, The Wyoming Law Firm™ that was key in the afore mentioned Wyoming legislation is also the Lawyer retained by Markethive, states that “…Wyoming is one of the most blockchain-friendly states in the United States…”
What Are The Benefits Of An ILP?
One of the key benefits of ILPs is the fact they are a form of a loan. These kinds of funds are not taxed as is the case with ICO funding in some jurisdictions where it can be up to 40% as it is seen as income. Due to the crowdfunding aspect of the ILP, it is considered as a loan hence it is completely and totally compliant to the regulatory and UCC code which means it is not a security. The Incentivized Loan Program ™ is within the legal parameters (UCC) that govern the mainstream credit market. Markethive Members who decide to take part in this program are assured that their funds are well protected and cannot dissolve without a trace as seen by some ICO’s (Initial Coin Offering Projects) in the past.
ILPs are also regulatory friendly, in that they can be compliant even with the most stringent regulatory frameworks around the world when it comes to fraud and money laundering. Participants are required to submit identification to show who they are. This solves one of the biggest issues that have seen regulators criticize ICOs severely.
There is no limit to the amount you choose to loan Markethive. The best part is even the small investor can participate by way of the Entrepreneur program at $100 per month. Not only does it unlock the advertising and commerce portals, it earns you a 1/10th share of an ILP for every 12 months that you continuously contribute to the program (limited to the first 1000 Entrepreneur upgrades). That is significant as the ILP will be like a Bitcoin in that it will be able to be broken down into “satoshis” ie: 1 millionth of a coin. So 1 full ILP equals 1 million ILP “satoshis”. This enables Markethive to conduct bounties, rewards, and trading on the ILP. This simply turns the ILP into a cash cow.
SUMMARY ILP:
It's a debt instrument and not subject to tax and it compliant with the USA UCC code governing debt instruments.
The company doesn't need to create tokens that are speculative and actually have no use.
It is open to individuals around the world as loans are allowed almost everywhere.
After the principal is paid you earn interest and will share in the success of the company.
Very Easy to Participate
Sign up at Markethive.com for a FREE membership and then upgrade to the Entrepreneur level (availability is limited and can end at any given time).
After every continuous year you will receive an additional 1/10 of a full ILP and after 10 years you can accommodate a full ILP token.
Purchase an ILP outright (priorities are given to ILP purchasers)
To learn more about the ILP and how Markethive is moving forward (and see our use of funds) go to this blog…
