Modex has signed the London Fundraising Token Manifesto as an endorsement of the values set out in a groundbreaking framework for the ethical commercialization of cryptocurrency tokens and coins. Commenting on the importance of ethical guidelines in this fast-moving blockchain economic revolution, Mihai Ivascu, CEO and Founder of Modex, praised the London Manifesto “as a much-needed initiative for strengthening confidence.” He went on to state that ethical guidelines would help regulatory and financial bodies in these new markets establish and maintain “sound and proper” Initial Coin Offerings and Initial Token Offerings.
The Manifesto, launched on October 23rd in London, aims to distinguish the British capital as a world leader in secure and high-quality cryptocurrency participation. Modex joins other finance industry and blockchain technology leaders in full support of this ethical framework for token sale issuers.
The Manifesto is a voluntary code of conduct which seeks to establish new standards for Initial Coin Offerings (ICO) and Initial Token Offerings (ITO), the fundraising mediums that allow participants to back companies using cryptocurrency. In recent months, numerous ICOs / ITOs have been attacked by regulatory and financial bodies across the world after a number of illegitimate fundraising rounds defrauded uninformed contributors. This has resulted in a degree of lost confidence in the new medium and, in some markets, it meant that ICOs/ITOs have been banned outright.
The London Fundraising Token Manifesto has been modelled on the Chartered Institute of Investment & Securities Code of Conduct that includes eight principals including honesty, integrity, and fairness when dealing with consumers. The ICO/ITO market has attracted over $2 billion worth of cryptocurrency contribution in 2017 and has outperformed a number of established public exchanges. “It is important that our industry seeks to better define ‘best practice’ in the new crypto markets,” Ivascu said. “That’s why Modex is proud to be an early signatory of the Manifesto. The whole point of blockchain is to deepen legitimate and transparent business.”
Source: Modex blog.