LegalTech pioneer Amazing Blocks attends the European Blockchain Convention
Major issues in the rapidly evolving blockchain space today include a lack of regulation and standardization — even though the technology at least promises the latter through its interoperability. Another problem to cope with is acclaiming mainstream adoption. When merging the interests of Amazing Blocks with those of the European Blockchain Convention (EBC), these pain points can be addressed: (1) Amazing Blocks supports you to establish your digital legal entity in Liechtenstein — in line with the Liechtenstein Token Act. The equity of blockchain startups or legal entities can be fully tokenized. (2) The European Blockchain Convention is a meeting point of the blockchain industry this year in Europe. The congress, which will be held on September 21 and 22, will feature workshops, presentations, panel discussions and more than 100 world-class speakers. The EBC will provide access to an AI-powered networking platform to facilitate virtual one-to-one meetings between the over 1.500 attendees. Consequently, the diverse participants efficiently find common ground between all sectors and together can enhance blockchain adoption. — Author: Nicolas Weber
Europe’s leading blockchain conference for business
The European Blockchain Convention (EBC) has crystallized itself as one of the leading congresses in Europe for blockchain related topics. It is a pioneer in seizing the vast amount of opportunities involving blockchain and combining it with traditional market players. Victoria Gago, Co-founder of the EBC commented as follows: “We are living in exciting times. Blockchain technology will certainly have incredibly profound effects on business, government, and society. It is indisputable that in a few years we will see new business models, in a similar way to what we lived with the Internet a few years ago”. The event offers 2 days of live-streamed content for the 1500 attendees and more than 100 world-class speakers. Furthermore, it provides the perfect networking possibilities, due to the exceptional lineup of blockchain industry leaders from companies and associations such as: Dash, Cointelegraph, Crypto Valley, Libra and many more. On par with the household names of the blockchain space are the leaders from other sectors attending: American Express, the European Union, Commerzbank, Santander, Carrefour, IKEA and many more. Therefore, the EBC perfectly merges politicians, industry leaders with tech entrepreneurs and enthusiasts to build a platform aimed to foster mainstream adoption for blockchain. A few of the speakers are illustrated in figure 1 below.
This year’s congress will feature presentations, panel discussions, workshops and much more, which attendees will be able to benefit from. While connecting the blockchain industry with traditional sectors can be difficult, the AI-powered networking platform to facilitate virtual one-on-one meetings between the participants is an innovative solution to cope with this issue. It will allow the smooth exchange of ideas and information between all attendees, as different as their interests may initially appear. AI helps here to effectively match the participants with one another and to find similarities that are not evident at first glance. Another novelty will be the specialized 45 minutes workshops by renowned experts Daimler, Bosch, the EU-Commission and others focusing on the following eagerly anticipated areas: Digital identity with blockchain and how to design a decentralized mobility ecosystem.
Tokenization with Amazing Blocks
“The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby in the Internet you can transfer funds from A to B, without A knowing B or B knowing A. That kind of thing will develop on the Internet and that will make it even easier for people to use the Internet.” A statement made in 1999 by nobel-prize winner and highly acclaimed economist Milton Friedman, not knowing that his initial vision would affect far more than just transfering monetary funds. E-cash has been prevailing since 2008 with the invention of the Bitcoin blockchain, but now due to the Liechtenstein Token Act (TVTG) even legal entities or — to be precise — their shares as equity tokens can be digitally represented and thus “tokenized”. Amazing Blocks offers a software solution to tokenize Liechtenstein legal entities (e.g. tokenized shares or assets of any kind) as equity tokens. These tokens represent tokenized equity of special purpose vehicles (SPV) utilizing the Ethereum blockchain. A fully seamless and transparent transfer is enabled.
The accompanying benefits are tremendous: Time and money saving, full automation and standardization, high transparency and a remote setup and management. Nevertheless, leveraging the Liechtenstein Token Act through blockchain is not an easy endeavour. This is where Amazing Blocks finds its niche: Amazing Blocks provides a software — the Tokenpad — which is a user-friendly software-as-a-service to issue and administer the tokenized shares of legal entities (that is, equity tokens) end-to-end and 24/7 from anywhere in the world. Consequently, Amazing Blocks efficiently integrates finance, tech and law.
Pioneering use-case: Using crypto assets as initial non-cash contribution at Amazing Blocks
At Amazing Blocks, we decided to take the next step and leave traditional structures behind as we are strong believers in digital finance. As proof for this, the Ethereum address 0xc00dd1ff1205cac5b710c823e477ca1294dc7257 can be used. Here, it can be seen that ETH 261.00 have been deposited as an initial non-cash contribution on 7th August 2020, right before the company has been formally established at the commercial register in Vaduz. To do this, a “non-cash contribution agreement” was required to prove to the commercial register that the founders had deposited the ETH. If the price of ETH would have fallen significantly such that the total value would have been below CHF 50,000 then the commercial register would probably have rejected the registration. The question always arises what the market price of crypto assets is. It was therefore very helpful that the Swiss tax office publishes daily prices of crypto assets. The Swiss tax office is a reputable authority such that prices of ETH can be relied upon. If you are interested in the “non-cash contribution agreement” we used, we are happy to share it: Send us an email (hi@amazingblocks.io) or send a request on our website. We are happy to share our knowledge with entrepreneurs who seek to do the same.
When companies can be founded fully remotely and without the need of a bank account in Liechtenstein to leverage the Liechtenstein Token Act, a skyrocketing influx of capital can be expected. Futuristic minded investors will be able to seize the immense potential of leveraging the Liechtenstein Token Act. As a pioneer, Amazing Blocks seeks to be a major driver of reshaping the current world of finance. Being able to avoid the process of initiating a bank account will be pivotal in the future development. Nothing beats instant, trustworthy and automated processes and transactions while at the same time complying with all rules, laws and regulations.
How Amazing Blocks will utilize this auspicious opportunity
Amazing Blocks continuously strives to further expand its network. Therefore the EBC delivers the perfect platform for this. “We remain true to our goal of accelerating, promoting and connecting the blockchain ecosystem in Europe. This online edition is an opportunity to increase exponentially our impact in the space. Never before in history has there been a platform with so much quality content about blockchain”, says Daniel Salmerón, Co-founder of the EBC.” We expect to shatter our past attendance record and this translates into multiplying the networking opportunities for our attendees.” Forming future-oriented business relationships through this networking environment will give Amazing Blocks a headstart over its competitors and thus facilitates the much needed competitive advantage.
Moreover, the EBC provides Amazing Blocks with relevant and inspiring content, while collaborating with the brightest minds in our society. By listening to the speakers and interacting with them, Amazing Blocks will gain crucial, not publicly accessible insights and absorb knowledge from variously differing perspectives. Yet they all have the same ultimate goal: Enhancing our world with the help of blockchain. Not only will Amazing Blocks find partners to build synergies, but also cover the experience at the EBC and write an additional article to pass “revue” and inform about how they in fact took advantage of this unique opportunity. Ultimately, the EBC is a perfect tool to further attain relevance in the aspiring trillion dollar industry of tokenization.
Remarks
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Amazing Blocks offers a tokenization solution that enables its clients to tokenize various assets according to the Liechtenstein Token Act (software-as-a-service). The software covers both the issuance of tokens and investing in tokens. It suits the needs for tokenizing all kinds of assets (e.g. machines, cash flow generating contracts, trademarks, real estate, cars). Imagine that some asset should be tokenized. For this asset various tokens would make sense: Equity tokens, debt tokens, participation rights as tokens, ownership tokens, or any mixture of these tokens. The software of Amazing Blocks helps issuers to handle multiple assets and to issue multiple tokens for these assets. This is possible by integrating blockchain technology with the law (that is, the Liechtenstein Token Act). At the core, there is the “digital legal entity in Liechtenstein” based on “tokenized shares” which allows a very efficient foundation, a very efficient operation of the company and, thus, an efficient and flexible possibility to tokenize assets. This should now make a wide variety of tokenization projects possible, because the costs for tokenization are significantly reduced.
Interested? Then, contact us! Are you interested in what Amazing Blocks is doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.
Author
Nicolas Weber works in the department of Business Development Europe at Amazing Blocks and is your direct contact for any regards. You can contact him via email or connect with him on LinkedIn.
