«GLOBEKS» and RAKIB create a system of investment protection at the ICO in Russia

A subsidiary of VEB — «GLOBEKS» and the Russian Association of cryptocurrency and blockchain (RAKIB) in conjunction with the online platform CrowdHub develop a draft system of guarantees for investment in cryptocurrencies. According to the developers, it will be ready in 2018.

The project will allow investors to monitor spending of the organizers of the ICO: payments will be made in stages in accordance with approved plans the development of startups. However, experts emphasize that the mechanism of legal protection of the rights of investors in ICO is not fulfilled – it is not clear where to turn if there are disputes.

According to the Director of Rakiba Arseniy Salicina, together with the «Globex» they will create ICO-hub a key element of which will be the system of guaranteeing of investments in cryptocurrency startups.

«We assume that the project starts in March, then will begin the elaboration of its development strategy», – the head of Department of development of e-Commerce and e-banking «Globex» Alexander Mineev.

According to the developers, the system will work as follows: RAKIB encourages its participants to raise funds through the ICO hub. A company that wants to raise money for the project, register on the site CrowdHub.io. To get money the entrepreneur opens an escrow account in the «Globex», and to accept cryptocurrency hot wallet on this site.

Investors are also logged on the website CrowdHub the dashboard: from there the funds will go to the escrow account of the company is a startup in the «Globex».

Successive group of investors will monitor spending and progress of a particular project.

«If they deem that everything is going according to plan, the vote for the transfer of a portion of the funds for the implementation of subsequent phases. If more than 51% voted against, the remaining balance is reallocated between investors and the project is liquidated», – told the Vice-President RAKIB Denis Dosnow.

According to him, the test period operation of the entire system will last at least three months — during this time in RAKIB expect to collect statistics for the ICO in order to improve the functionality of the hub.

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