After the emergence of the Initial Coin Offerings (ICOs), the startups are going the easy way in terms of raising capital. ICOs have turned out to be the most popular practice to raise funds lately. ICOs have already raised a whopping $12.4 billion in this year and were able to raise $3.8 billion throughout 2017.
So, to explore the prospects of Blockchain, cryptocurrencies, and ICOs, a Blockchain summit namely Global Blockchain Congress is currently taking place in Johannesburg, South Africa. The summit focuses on how the cryptocurrency industry continues to grow globally and discuss the opportunities that exist in decentralizing businesses using Blockchain. It is a global platform where the influencers in technology, innovation, and civil society convened to discuss about Blockchain and ICOs, potentially capable applications of changing the world.
The summit was lined up with several sessions, of which one was the “How to Select Legal Counsel for Your ICO and Save Money at the Same Time”, with Brian A. Konradi being the guest speaker. He is the Co-founder and Director in Decentra Group, and co-founded Incremint.io, back in 2017.
Konradi, who was also the guest-in-chief in one of the previous sessions in the summit, spoke about legal aspects of conducting ICOs and why the stance of multiple nations towards the same is dubious.
Konradi, while discussing about the legal counsel for the ICO said that a whitepaper, normally the persuasive, authoritative, in-depth report on a specific topic that presents a problem and provides a solution, is a document or a memorandum that discloses the gist of the token offering.
"A whitepaper is a disclosure document or memoranda regarding your token offering that the legal counsel has to review." @BKonradi of Decentra speaks at #GBC @UMSConferences#GlobalBlockchainCongress #Blockchain #BlockchainAfrica #NABS #NABSNigeria #Fintech #FintechNigeria pic.twitter.com/RYRLUapuJ6
— BTC Wires (@btc_wires) July 17, 2018
The session was concluded with Konradi engaging in the selection of proper counsel for the ICO and how money can be saved on ICOs.