Since the newly found ubiquity of cryptocurrencies, regulatory authorities in different parts of the world have gotten especially interested in ICO projects. Now Orderbook has launched a Regulation Aware Protocol to assist with the management of securities.
Orderbook, the brainchild of Ambisafe has developed an innovative solution that uses a whitelist to track the eligibilities of participants during token generation events. (TGEs).
ICO projects have become very popular in recent times, and this has drawn the attention of regulatory officials, with each country drafting their unique rules as regards the crypto ecosystem. This is a massive challenge for TGE organizers because the guidelines are not same universally.
RAP is a solution built by orderbook.io to mitigate all regulatory challenges ICO participants face. It uses smart contracts to verify the permissions of participants in a project.
If a participant that has not passed the KYC/AML tests and other regulatory standards tries to purchase a token, the RAP smart contracts quickly get into action and restrict the user from completing the project.
In addition to assisting ICO organizers in creating tokens that meet regulatory standards, The Regulation Aware Protocol, RAP also makes it easier for users to participate in TGEs by eliminating the cumbersome process of having to submit new KYC/AML verification documents each time they register on an ICO platform.
If the participant’s information is updated on RAP, they will be able to participate freely as RAP will send their verification documents to the new TGE they are interested in joining.
Andrii Zamovskyi, CEO of Orderbook and founder of Ambisafe said that:
“We have created RAP tokens to be the perfect instrument for a new generation of financial innovation. We believe in the migration of financial markets to this new technology in the near future. It is a big step for Orderbook, and a huge leap for Blockchain technology.”
Presently, Orderbook is the first and only exchange that develops and maintains a registry of verified Blockchain users. The system uses smart contracts to handle the entire process.
Soon, the need for platforms to have only verified participants in their projects will increase, and many organizers will integrate RAP tokens into their operations.
For more information visit www.orderbook.io/#/
Email: [email protected]
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