ShipChain’s Token Sees New Life as Court Order is Vacated

Today, the South Carolina Securities Division filed an order to vacate the cease and desist instruction issued to blockchain logistics company, ShipChain, back in May. ShipChain was caught up in the swell of “Operation Crypto-Sweep,” a widespread effort crack down on potentially dubious ICOs. These efforts were launched by the North American Securities Administrators Association (NASAA).

ShipChain Run Aground

In the original order, U.S. regulators cited a failure to liaise with any broker, seek registration, or establish the buyers of the ICO were accredited investors before the purchase of tokens. The ruling found ShipChain falling afoul of the law on the basis they did not fulfill their obligations to be able to legally trade securities.

For its part, ShipChain came out swinging. The company rejected that their tokens could be defined as securities, it did indeed only sell tokens to accredited investors, and ultimately “…none of the purchasers of SHIPs [the business’s token] in that initial sale are South Carolina citizens or businesses,” according to a statement from the company.

Despite ShipChains defiance, their efforts did little good for their crypto’s value. When this cease and desist was first issued on May 21, ShipChain suffered a substantial drop in its market value. Going from a high of around $0.013 to a low of $0.054 in less than two days.

Sail on

Since news of the annulment broke, ShipChain has recorded a respectable rise; prices have risen up to 55% and are now holding steady at $.045, at the time of writing. While this certainly signals progress in the company’s favor, it has a long way to go to reach the heights achieved prior to the cease and desist.

The rapidity at which the blockchain market is growing is nowhere near matched by the march toward sensible regulation. This disparity will likely result in continued repetition of situations similar to this. In many ways, a company’s ability to navigate these treacherous pre-regulatory waters is just as important as having a solid platform.

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Ed Kennedy
Ed Kennedy is a journalist at BlockTelegraph News and a web developer from Melbourne, Australia. A keen technologist with an enduring interest in the rise of a truly digital global economy, Ed is passionate about the transformative potential blockchain offers our world.

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MovieCoin Open Doors for Investing in Hollywood

MovieCoin could fund new Hollywood films.

MovieCoin Begins Public Pre-Sale

Last November, Christopher Woodrow, the producer of six Oscar-winning films, claimed that blockchain technology will disrupt Hollywood as it has other industries. He is one of the first people to become part of this disruption, launching a distributive-technology-based token named MovieCoin.

MovieCoin has begun its public presale for security and utility tokens. The firm expects to make about $470 million via the public presale, which follows a private presale capped at 2,000 Bitcoin (BTC).

During the public presale, the company will accept BTC, BKX, and Ethereum tokens with a minimum commitment set at 5 Bitcoins or equivalent and a hard cap of 10,000 BTC. Simultaneously, the firm will issue security and utility tokens during the presale: MovieCoin Smart Fund (MSF) Security Token and MovieCoin Utility Token (MOV).

MovieCoin logo
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Image Credit: MovieCoin / movie.io

The company plans to make $220 million by selling two billion MovieCoin Utility Tokens at $0.11 per token and $250 million by selling 250 million MovieCoin Security Tokens at $1 per token. The company is offering an incentive to initial investors in MovieCoin Utility: a bonus up to 25% of the quantity purchased. The public presale will run until October 30 at midnight Pacific time.

The BKX tokens are issued by BANKEX, a global top-20 financial tech company working on Proof-of-Asset Protocol for MovieCoin. Since BKX tokens are a variation of the ERC-20 utility token linked with the blockchain of Ethereum, they will provide an extra 5% bonus rate.

MovieCoin’s Vision

MovieCoin is a next-gen fintech firm focusing on leveraging proprietary applications, digital assets, and blockchain technology to disrupt the film and entertainment industry, as well as become the leading entertainment transaction and settlement platform for consumers and businesses. It wants to become the standard currency for funding television, motion pictures, and other media.

Woodrow plans to use the raised funds for making movies. Tokens issued by MovieCoin can be traded in the secondary market, offering opportunities for investors to profit with film successes. After the public presale concludes, the company will sell public tokens from November 1 through 25 that require no minimum contribution.

In an interview with Bloomberg, Woodrow said, “We’re trying to revolutionize the way films are financed. Hollywood is relationship driven and what we bring to the equation is the ability to gain access to the highest levels of film finance. We’re in the process of putting together a slate of projects that will include A-list movie stars, top-tier directors, seasoned and established producers, and that will form the initial slate for MovieCoin.”

MovieCoin says that its token-based financing system will provide a transparent ledger of everything that goes into financing each film project. Since tokens are infinitely divisible, they will be highly liquid as compared to other investments. There are also plans to sell tokens allowing consumers to get movie tickets, along with buying or renting films and TV series in various ways. All of these options will allow film enthusiasts more control over how they consume their entertainment.

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TigerWit Partners with Liverpool FC to Promote New Blockchain-Based Trading App

A row of Liverpool FC soccer kits.

Official ForEx Trading Partner

Liverpool FC has entered into a new global partnership with TigerWit. The English premier league has embraced the partnership, promoting TigerWit’s blockchain-enabled trading through a smart, sleek, highly-intuitive app. The app is harnessed across a distributed trading ledger.

Highly detailed, cryptographically encoded transactions are shared through the trading network. The distributed trading ledger at TigerWit is based on blockchain trade settlement, ensuring delivery of greater security, more efficiency, transparency, and trust.

The soccer giant joins other Premier league clubs to embrace Blockchain in cryptoasset trading. Just recently, Brighton & Hove Albion, Newcastle United, Tottenham Hotspur, Crystal Palace, Leicester City, Southampton, and Cardiff City announced new partnerships with eToro.

New trading partners TigerWit and Liverpool FC pose with a soccer kit that says TigerWit.
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Image Credit: Liverpool FC

Billy Hogan, Managing Director and Chief Commercial Officer of Liverpool FC, was excited about the partnership, stating, “As our official Online Foreign Exchange Trading Partner, we are very excited to develop our partnership with TigerWit. Liverpool FC has a large number of fans across the globe, particularly in TigerWit’s core markets in the UK, Europe, and Asia. Through this new partnership with TigerWit, we look forward to marketing activations, which help bring our fans around the world even closer to the Club.”

Tim Hughes, Chief Executive Officer at TigerWit, also expressed his enthusiasm with the partnership, stating, “Today is a proud day for TigerWit, we are launching our innovative blockchain-based trading app and partnering with Liverpool FC. TigerWit believes in a market that does not discriminate or play favorites. We have developed a pioneering blockchain-based settlement system that instills trust by delivering greater security and process efficiency. Trading should be, and can be, more transparent and fair for all traders, regardless of experience or the size of their account.”

What the New Deal Presents

The partnership will aid in driving technological development in Europe, the UK, and Asia. These are Liverpool strongholds with many of the League’s Kopites. Additionally, it will assist to increase downloads of the trading app in these regions.

TigerWit will also benefit from brand exposure at Anfield as well as through Liverpool’s social media channels. This is in addition to matchday privileges and club hospitality at the stadiums.

Liverpool players Alisson Becker, Georginio Wijnaldum, and Naby Keita have already been featured in a TV commercial with the brand.

Traders and users will benefit in trading with TigerWit’s app in various ways. These include; a minimum initial deposit of US$50; flexible leverage; multiple product options such as FX, precious metals, commodities, and indices; and low minimum order value of just 0.1 Lot.

This may seem to be an unusual partnership, but both groups are highly enthusiastic about the benefits and exposure they’ll give to each others’ fans.

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