Saturday, February 3, 2018

Entrepreneur seeking ICO to use to create a blockchain and cryptocurrency Free Trade Zone

As more and more governments begin to crack down on cryptocurrency use, mining, and trading, the idea of establishing independent 'Free Trade Zones' are beginning to percolate among the cryptocurrency community.  And while the nation of Estonia has setup its own virtual world where citizenship and use of a digital currency are one of these potential outcomes, one entrepreneur is working on garnering capital to find a suitable location to build the world's first Blockchain FreeZone.

The idea to launch the FreeZone project, which is essentially focused on creating a limit-free territory for a wealth of cryptocurrency operations, first occurred to entrepreneur Evgeny Mukhin back in June 2017, and just a month later, the legal entity was registered, according to the white paper, published on the company’s official website. 
The ICO campaign is set to start on March 20, with the fundraising cap reaching $100 million, the document reads. 
In comments to Sputnik, Evgeny Mukhin, the FreeZone co-founder and CEO, noted:
"Nikolay [Nikolay Batalin, President, co-founder] and I had an idea to launch an ICO campaign to raise funds for creating a financial infrastructure in the cryptomarket (bank, payment system, universal trading platform, and investment bank). We conducted a lot of research, scrupulously examined different countries’ legislation, talked to international lawyers but we failed to find a country where we could  legally host an ICO campaign with no risks." 
"At that point an idea occurred to us to build the first ever free crypto economic zone with unique conditions for block chain development and launching cryptoprojects." 
The entrepreneurs immediately understood that there were two trends running parallel to each other: on the one hand, blockchain-based projects are enjoying a surge in popularity, but on the other hand, the absence of feasible unified legislation which would regulate cryptocurrencies' flows and maintain ICOs are deterring the process. – Sputnik News

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