Making an ICO (Initial Coin Offering) is not something easily done. You need a lot of money to initiate an ICO: for marketing, development and management. Many offer tokens for consultations, programming and services necessary for starting up. Serious professionals, however, won’t accept your tokens, which for now have only a nominal value and have no value on the market. ICOs have recently caught the attention of regulation agencies and so you might have to deal with some court or supervisory agency if you don’t know what you’re doing.
Meanwhile, we should clarify that ICOs are not legal entities but a simple offer, and therefore creating a legal framework is necessary and for this you should turn to a lawyer, preferably one who is an expert of ICO.
Which jurisdiction should you choose for an ICO? Simple: a tax haven that hasn’t regulated ICOs and cryptocurrencies.
The 5 principal points for making an ICO are:
- A legal frame (that is a company) for administering the project;
- A smart contract for managing and distributing the tokens;
- A landing page with a countdown to create interest;
- A white paper that describes the project;
- A staff of programmers, marketers, lawyers, backers who develop the project and create your tokens, that is, the cryptocurrency that will allow you to activate a Crypto-crowdfunding which means to gather funds in cryptocurrencies.
In synthesis, the ICO is an innovative form of financing which allows businesses to obtain the funds necessary for developing a project through the sale of ‘tokens’, which are the digital coins based on the blockchain technology.
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