In January 2019 Byteball was rebranded to Obyte.
Byteball - a Top 100 Crypto, has enabled Accredited Investor Verification on its newly launched ICO Platform. Until now, most ICOs were on Ethereum and most of them were selling so called utility tokens trying to avoid securities regulations. Through integration with Verifyinvestor.com, Byteball becomes the only ICO platform that allows to legally sell securities in ICOs, and opens access to accredited investors.
An attestation record confirming the accredited investor status will be saved on the Byteball’s DAG and will allow the investor to participate in multiple ICOs without any additional hassle while the status is active.
In addition to Accredited Investor Attestation, Byteball offers KYC, DIY Smart Contracts, Conditional Payments and other widely acclaimed features, as part of its strategy to build a bridge between crypto and the real world.
“We understand the pains of the ICO market and are dedicated to delivering relevant solutions that just work, it’s that simple.” says Tony Churyumoff, Founder of Byteball.
Legally, an accredited investor “is a person or entity that can deal with securities not registered with financial authorities by satisfying one of the requirements regarding income, net worth, asset size, governance status or professional experience.”
The feature, which is welcomed by ICOs across the globe that are facing increased scrutiny from regulators will allow to run ICO projects regarded as securities. This is is a relief to ICO’s looking to enter the US for example, as the offering can be available to this investor category.
Whereas the task of most regulators is to protect so called small retail investors, Byteball’s integration with Verifyinvestor.com takes the ICO process a step up. Once Verifyinvestor.com confirms an investor’s accredited status, a company takes an important step towards compliance, legally clearing the field for ICO securities fundraising in accordance with Rule 506(c) of the US SEC.
Using VerifyInvestor.com constitutes taking “reasonable steps” and shields fundraising companies from the potential risks of noncompliance, including enforcement action and the possibility of having to return funds to disgruntled investors.
“We are happy to offer Byteball the opportunity to develop the market and offer solutions to carry out operations in compliance with securities regulations” said JL Law, co-founder of VerifyInvestor.com
VerifyInvestor.com provides a fast, easy, and cost-effective method of compliance for companies seeking to verify their investors as accredited investors. At the same time, our platform gives those same investors peace of mind that their information is confidential and protected.
Byteball is a cryptocurrency platform that enables trust where trust couldn’t exist before. It allows any two parties, even strangers, to make a contract on the platform and be confident that it executes exactly as agreed upon. Multiple independent participants of the network automatically verify all the contracts and make sure their terms and conditions are followed. Byteball’s distributed ledger is based on directed acyclic graph (DAG), which, unlike blockchains, has no blocks, hence no arbitrary scalability limits, no miners, no gatekeepers, and everyone can add their transactions to the DAG. The platform is accessible for everyone thanks to user-friendly wallet and smart contracts that any regular user can understand and create.