Z/Yen Group urged to develop ethical standards for ICO

The London Token Fundraising Manifesto released, signed by more than 30 representatives of the British crypto industry  
26 October 2017   2132

The London-based Z/Yen Group research center published a manifesto calling for the new standards for the ICOs.

The authors of the manifesto note that the blockhain technology risks to earn a bad reputation because of the chaos that prevails in the market of cryptocurrencies and ICO.

Where is the new technology that has not been decried as dangerous by its incumbent opponents? The great potential of this technology risks being put back significantly, denying benefits to billions, if significantly tainted with incompetent delivery or fraudulent schemes. In that eventuality, rightly, expect regulators, the judiciary, legislators, and the public to bear down on the use of smart ledgers.
 

The London Token Fundraising Manifesto 

The document proposes to establish new ethical standards for ICO start-ups and bring to the fore autonomy, transparency, honesty and fairness.

The manifesto was signed by more than 30 representatives of the British cryptocoin industry.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   992

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.