Financing a Blockchain Project and Blockchain Security

Financing a Blockchain Project and Blockchain Security

James Burnie

Financial technology specialist

In this video, James will explain how a tea supply chain could benefit from the use of the technology known as blockchain. He also discusses the operational requirements and potential security issues associated with using the technology. And we briefly look at the potential requirement for participants in the project to hire suitable custodians to handle their tokens.

In this video, James will explain how a tea supply chain could benefit from the use of the technology known as blockchain. He also discusses the operational requirements and potential security issues associated with using the technology. And we briefly look at the potential requirement for participants in the project to hire suitable custodians to handle their tokens.

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Financing a Blockchain Project and Blockchain Security

12 mins 12 secs

Overview

Cryptoassets can be used to raise funds using crowdfunding, a process often referred to as an ICO. The regulation of ICOs depends on the nature of the cryptoasset, for example whether it represents a security. In certain cases, the fundraise may occur before the cryptoassets are created, in which case investors often enter into a SAFT, under which they have rights to the cryptoassets when they are created. Before holding cryptoassets you should consider how they will be stored, for example if using a custodian you should consider how secure the custodian is. There are other considerations when holding cryptoassets as well to consider, such as how robust the blockchain protocol is and whether there is a business continuity plan in place if it breaks.

Key learning objectives:

  • How is crowdfunding using cryptoassets treated legally?

  • What is a SAFT?

  • What is the role of the custodian?

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Expert
James Burnie

James Burnie

James Burnie is a partner at law firm gunnercooke. He has been at the forefront of advising on blockchain and cryptoassets projects, including the first equity issuance settled on-chain. His work is award winning, receiving runner-up at the Crypto A.M. Awards 2020, "Standout" at the FT Innovation in Legal Expertise Awards 2018 and "Highly Commended / Runner Up" at Legalweek: The British legal Awards 2017.

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