Video sharing company Verasity has achieved compliance with the Sustainable Initial Coin Offering Protocol (SICOP) ahead of the sale of tokens via the trusted Tokeny platform. Verasity’s video sharing platform is using blockchain technology to enable a direct and transparent relationship between viewers, content creators and advertisers. The Verasity platform rewards the entire community for their activity in the platform.
SICOP compliance indicates that Verasity has a viable long-term business concept and has correctly structured its initial coin offering (ICO). Compliance with SICOP verifies that Verasity ICO will use blockchain in the correct way, and also be a fair and safe place for the purchase of its tokens.
For the sale of tokens, Verasity is employing Luxembourg-based Tokeny’s end-to-end secure platform, which can handle a high volume of contributors simultaneously, while also managing KYC (know your customer) compliance. With the most trusted tokenisation platform on the market, Tokeny brings the full knowledge of what is required to deliver a fully-featured contributors’ portal, and smart contracts.
“SICOP compliance is important as we are very serious about delivering the extremely exciting long-term benefits blockchain can deliver to the online video publisher and creator community and their viewers,” said David Orman, Verasity CEO. “Using the Tokeny platform meant we eliminated risks in issuing tokens, offering a proven portal to our contributors, and allowing us to focus on our business and marketing our ICO.”
The CEO of Tokeny, Luc Falempin added: “It is a pleasure to work with Verasity as the team has taken a very organised and professional approach to the end-to-end ICO process. They also took advantage of our features such as lockup periods and airdrops. Verasity was able to utilise our built-in KYC capabilities, even for the free tokens.”
SICOP is a certification methodology to determine if an ICO is compliant to the standards of an ethical, fair, and transparent market. It is based on best practices taken from the IPO industry as well as consumer rights. It provides a self-regulating framework to the ICO industry.
Tokeny works with SICOP-compliant companies to enable them to deliver low-risk high-quality ICO experiences. In doing this, Tokeny also highlights high-quality investment opportunities to its community. The team behind Tokeny has decades of experience in delivering mission-critical global technology solutions. The teams objective is to utilise this background to make the participation of any contributor in an ICO transparent, accessible, and completely safe.
Verasity is a next-generation video sharing platform designed to pivot the online video ecosystem by enabling a direct and transparent relationship between viewers, content creators and advertisers.
Powered by existing cutting-edge video player technology, Verasity provides a high-quality viewing experience. Verasity’s proprietary Blockchain technology, Proof-of-View (PoV™) creates a transparent economy powered by a new cryptocurrency called VERA (VRA).