Chinese Blockchain Event to be Called for Boycott

Bo'Ao Blockchain Forum for Asia is called for boycott due to Mao Zedung image usage
28 May 2018   322

Chinese crypto-currency companies have called for a boycott of the blockchain conference that is taking place these days, after its organizers decided to use the image of Mao Zedong to promote their event, CoinDesk reports.

The two-day event Bo'Ao Blockchain Forum for Asia, held by the Chinese cryptocurrency media company BiKuai, was launched in Hainan this Monday according to the schedule.

A few hours after the beginning of the conference, a video was distributed in Chinese social networks Weibo and WeChat, where the actor hired by the organizers portrayed the most popular leader of the country, Mao Zedong.

In the name of Mao Zedong, I'd like to say thank you to all the attendees today ... And I wish the event will be tremendously successful.

Xu Guoxiang


The video quickly spread across social networks, although numerous publications and reposts have already been blocked by the authorities.

Several Chinese blockchain media companies, including BTC123 and Jinse Finance, who attended the conference this morning, immediately raised the issue of the legality of such actions by the organizers. They also called for boycotting the coverage of the event, so as not to incur the wrath of the authorities because of the use of the image of Mao.

In 2007, the Chinese Ministry of Commerce issued a decree prohibiting the use of associations with top-level leaders in business. Criticized, the organizer of the event BiKuai published a statement in which he suggested that the problem was caused by a lack of communication with the actor before the performance.

Ex S&P President to Invest in iComply Startup

The startup is aimed at developing tools and services to meet the regulative standards for blockchain start-ups
14 August 2018   115

Startup iComply, working in the field of regulatory technologies and compliance with standards, has just completed the initial round of financing, which was headed by former Standard & Poor CEO Deven Sharma, CoinDesk reports.

IComply, aimed at developing tools and services to meet the regulative standards for blockchain start-ups (especially for those that conduct ICO), said on Monday that it attracted a seven-figure sum during this invest-round, but did not say the exact figure. The round was also attended by DMG Blockchain and Block X Capital.

In addition, iComply reported that it was joined by former employee of the Commodity Futures Trading Commission (CFTC) Jeff Bandman, former Managing Director of NASDAQ and the Financial Services Industry Regulation Service (FINRA) Manny Alikandro, MIT Connection Science program member, Praveen Mandal and Prosecutor Thomas Linder.

According to Sharma, he decided to invest in the startup iComply, because the project "is focused on services for ICOs related to risks and compliance with standards." Compliance with the standards, he said, will ensure the transparency of ICO issuers and thereby help to ease the concerns of regulators.

Sharma also believes that iComply can contribute to the spread of crypto technologies, helping the entry of traditional financial services into this industry.

My interest is to see iComply evolve into a benchmark that investors can use to assess credibility of issuers, sustainability of underlying services and the price of ICOs. iComply's patent-pending software enables both security and utility tokens to monitor and document compliance, governance and risk procedures, before a public blockchain executes an immutable trade, providing trust, integrity and transparency for our clients. There have been a few ICOs that had a fundamentally robust offering that I understood and did interest me [but I] missed the opportunity. Others that have transparency from a service like iComply, I would [invest in].

Deven Sharma

Ex-president, Standarts & Poors

It is the ideas of transparency and trust, according to Sharma, that sparked his interest in order to start working with the blockbuster.