Leading members of the blockchain and cryptocurrency industry unite to launch Project Transparency
Today, Iconiq Lab, a global initial coin offer and token-sale (“ICO”) accelerator program, is announcing its participation in Project Transparency, a crypto market voluntary disclosure standard which aims to bring self-governance and greater transparency for crypto investors and the community.
“Transparency is key for investors, and it is clearly lacking in the crypto markets. We are ecstatic to be a part of the founding team of Project Transparency. Through the collective efforts of this consortium, we hope to bring about enhanced accountability and improved governance in the blockchain and crypto markets, attracting new investors who may have been previously skeptical to the space,” said Patrick Lowry, CEO and co-founder of Iconiq Lab.
The goal of Project Transparency is to create a self-regulated, industry-led movement toward greater transparency and accountability within the Blockchain sector for investors and the community.
- 16 pre and post ICO projects, accelerators, professional services & hedge fund in the blockchain and the cryptocurrency industry unite to launch this self-regulated initiative
- Project Transparency represents > $650M USD in market capitalisation
- Aim is to improve regulatory procedures and disclosure within the digital currency sector
- Ambition for industry-wide adoption of Project Transparency for clearer disclosures
Iconiq Lab joins a number of ethical, industry leading digital asset industry players including Santiment, Aragon, Cofound.it, District0x, Encrypgen, Etherisc, Hcash, Iconomi, Indorse, Lykke, Dappbase, GATCOIN, Virgil Capital, Musiconomi and Maecenas to present the long term ambition of providing potential investors and the community with greater transparency and accountability for funds raised as the ICO space sees greater regulatory scrutiny in many markets and even legal restrictions in China and South Korea.
Santiment has confirmed that it will provide funding for Project Transparency’s web page (www.ProjectTransparency.org) and for manpower to process applications and keep the initiative staffed. Any Blockchain project can join the initiative, the only criteria is to disclose the wallets controlled, funds held and explain any expenditures over 0.5% of the funds raised.
With over $650M USD of market capitalisation represented by Project Transparency, there is significant momentum for this industry led initiative. The evolution of next generation levels of transparency is important as it matures and continues its journey towards self governance in the tokenized economy
“With the rapid rise of digital currencies and proliferation of ICOs, investors increasingly want security regarding their funds and transparency on how they are administered. Santiment was developed to provide insight and transparency to investors looking to enter illiquid and highly volatile markets, Project Transparency affirms our commitment to improving governance in the Blockchain sector,” said Maksim Balashevich, CEO and Founder of Santiment.