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CVA member Wenger & Vieli publishes Swiss Law Perspective on token launches

By | Member News

With the recent rush to Initial Coin Offerings (ICOs) or Token Generating Events (TGEs), questions have arisen about compliance with existing capital market regulations. Are they, in fact, new ways for start-ups to more easily raise funds or are they newfangled ways to avoid the existing regulatory burden hiding behind crypto’s shiny new cloak?

CVA member firm Wenger & Vieli recently published a note with their view on the Swiss perspective. In it, the law firm concludes:

“ICO/TGE is a new form of contributing to or investing in start-ups. Due to the diversity of Tokens, general qualifications cannot be made and each Token has to be assessed on an individual basis.”

For more, see the Wenger & Vieli Spotlight newsletter.

As announced in the CVA’s statement on token launches, the CVA is in the process of developing a TGE code of conduct with input from experts and the community.

Crypto Valley Labs Genesis Hub Launched in Zug

By | Member News, Public Announcements

CVA members Lakeside Partners and MME Legal, together with Blockhaus have announced the launch of Crypto Valley Labs – a fully-digitalized, fully-tokenized co-working space – with its first location (Genesis Hub) in Zug.

The Labs will serve to give startups a physical place to work from in Zug – and also help support the local economy which – so far  – has not benefited greatly from the crypto boom.

Besides its initiators, the initiative is supported by its current Genesis Members – including Singular DTV, Bancor, Etherisc and Melonport.  Several local businesses such as Grunder Law, Fineac Treuhand and Brand Leadership Circle have also joined the Crypto Valley Labs in order to take advantage of early access to the fast-growing ecosystem.

Teams operating from the Labs will be able to take advantage of a range of services – even if team members are split between two or more hubs in different cities. These include marketing, legal and development support in addition to using shared desks and office space. Teams will also be able to access attached living facilities while they use the Crypto Valley Labs co-working space.

“We like to think of it as co-working meets crypto,” explains Mathias Ruch, Managing Partner of Lakeside Partners. “Talented teams may be everywhere in the world, but ideas only really come to life when people get together and feed off each other. It really does take an ecosystem to make something great.”

Read more (in German) here.

Crypto Valley Labs website: www.cryptovalleylabs.com

UTRUST joins Crypto Valley Association

By | Member News

Billing itself as the “world’s first cryptocurrency payment platform to implement consumer protections on a mass scale,” UTRUST has announced that it has joined the Crypto Valley Association.

The project’s mission is to build a global “PayPal–like payments platform” that incorporates cryptocurrencies and that combines the benefits of “fast, secure, convenient, and inexpensive cryptocurrency transactions” with the “world’s first cryptocurrency payment protections.”

In announcing its CVA membership, the project wrote: “UTRUST’s mission to drive mainstream cryptocurrency adoption while ensuring consumer and merchant interests, closely aligns with the strategic goals of Crypto Valley.”

You can read more at utrust.io.

Bitboost joins the Crypto Valley Association

By | Member News

Bitboost, which describes itself as a “decentralized trading platform, eliminating the high fees of traditional e-commerce, while adding privacy and encryption,” has joined the Crypto Valley Association. The Ethereum-based platform makes use of smart contract technology and, according to the project, requires no personal information or a bank account to use.

In its announcement, Bitboost said “As a part of the Crypto Valley Association we will have the opportunity to assist in the development of policy regulation, the establishment of a basic support structure for startups, and the creation of a medium for investment opportunities … We are excited to be a part of the push towards a stronger global presence for our community members.”

More information on the project can be found at bitboost.net.

CVA member Twenty Thirty raises 25 million for Pillar project

By | Member News

The Pillar Project, which is being run by Crypto Valley Association member company Twenty Thirty, just concluded its token generating event (TGE). The launch garnered over USD 25 million based on the price of ether at the time of writing*.

Pillar aims to build “the world’s best cryptowallet”, which it hopes will “become the dashboard for your digital life,” according to its website.

Twenty Thirty was founded by serial entrepreneur and author David Siegel. As he told the CVA, one of the things that differentiated the Pillar TGE from others recently was its broad base:

“We raised ETH 113,674.4 from 13,446 transactions, with an average of less than 10 ether. This was first-time buyers struggling to part with 1, 2, 3 ethers, asking for tech support endlessly, thousands and thousands of messages saying how excited they were, dozens of people making videos, and more. It’s much more like the Ethereum crowdsale than anything of this year’s vintage.”

For more see:

*20 July, 5:30pm in Zurich.

Wired magazine interviews CVA member company 20/30 during Pillar token launch

By | Member News

The Pillar project, which is being run by CVA member company 20/30, is currently running its token launch online. This was the occasion for Wired magazine to interview 20/30’s founder David Siegel as part of a larger article on token launches.

As Siegel told the magazine, while the Pillar idea has been around for a long time, until now he had not been able to raise money in the traditional VC world. Thanks to the advent of the token launch, he can now do so directly with the public.

“I couldn’t raise any money for Twenty Thirty from investors, because they didn’t get what we were doing; now we have ordinary people hammering our email about Pillar,” Siegel says. “These people really want to fund this open source project.”

The article goes on to discuss the pros and cons of token launches – often called ICOs though, in the opinion of an increasing number of people, more properly referred to as token generating events or TGEs – and the opportunities and challenges they represent.

Read more

Swiss Telecom Giant Joins Hyperledger Blockchain Project

By | Member News

A major state-owned telecommunications provider in Switzerland has joined the open-source Hyperledger blockchain project.

Swisscom AG announced yesterday that it was joining the Linux Foundation-led effort. At the same time, the company disclosed several blockchain-related projects it has undertaken since internal research began last year.

Specific initiatives include a consumer loyalty concept developed with an unnamed bank and a platform for over-the-counter trading, the latter of which is being pursued in partnership with the Lucerne University of Applied Sciences and Arts, among other parties.

Read full article here.