Today's News

Vancouver, BC, November 1, 2017--(T-Net)--iComplyICO (iComply Investor Services Inc.), a regulatory technology platform that automates compliance procedures for initial coin offerings (ICOs), announced today that Darren Degraaf and Jim Mutter have joined its advisory council.

Darren Degraaf is a CFA Level I Virtual Classroom Instructor and Adjunct Professor of Finance at the University of British Columbia (UBC).

Jim Mutter is the owner of Whiteboard Law, a boutique business law firm. He also formerly served 3 years as president of The Premier's Technology Council where he advised the Premier on technology-related issues facing British Columbia and its citizens.

Mutter also previously founded AppNeta and served on the board of directors for companies such as QHR Technologies and Vecima Networks. He spent several years as a partner with Fasken Martineau where he helped to build the tech practice.

“Jim and Darren have been critical contributors to our success, we are fortunate to have their insights, experience and strategy. Darren's deep knowledge of the CFA, ethics, and financial education coupled with Jim's expertise in digital corporate governance, development and quantum technology will prove vital as iComplyICO lays the foundation for a compliance layer over the Internet of value.” said Matthew Unger, CEO and founder of iComplyICO.

Interest in iComplyICO has gained momentum following the SEC ruling that ICOs may be deemed securities and therefore subject to federal securities laws. One month following this ruling, the CSA followed suit and noted as well that that digital currency offerings would in many cases be considered securities or derivatives, also making them subject to Canada's securities rules and regulations. Prior to this announcement, investment in ICOs had surpassed angel and seed VC funding, but following these announcements ICO investment came to a near screeching halt.

“The regulators want compliance and entrepreneurs want speed to market - iComplyICO solves both of these issues. Blockchain is hot right now - but I have seen many tech trends come and go, including the dot com boom and subsequent crash which was actually not a failure of the rise of technology but a failure of the investment bankers who ended up taking bad projects on a path to go public.” said Mutter.

While shared ledger technologies such as blockchain create efficiency and transparency, there is still a long way to go to educate the general public about these benefits.

“I teach over 1000 students and I have noticed a clear difference between the attitudes of the millennials and the attitudes of the older generations. But that happens with a lot of new technologies, and in this case - everything so so dynamic: one day we see Jamie Dimon call Bitcoin a fraud and then shortly after, you see Goldman Sachs investigating how to launch a trading operation for digital currencies. It's like being in a reality TV show.” said Degraaf.

The iComplyICO team reported in a press release that it has already generated pre-sales revenue and has a significant sales pipeline.

“There is no standard compliance infrastructure for decentralized technology, yet we have already seen blockchain related projects receive over $500 million in venture capital in September alone.” said Unger. “Demand to white label our prefacto compliance protocol combined with our pre-sales has us on course to surpass $1 million in revenue before the end of our second quarter. This market is ready to comply with securities regulation, if it is given the opportunity.”continued Unger.

iComplyICO has engaged in conversations with local and international legislative and regulatory bodies, as well as top legal, accounting and assurance firms to create a compliance framework that allows everyday North American businesses, property owners, and governments to use the ICO to raise capital in a more efficient, secure, and traceable manner than traditional capital markets.

“Decentralization is the future, it will change business models profoundly the same way that Apple changed the model of the music industry. Removal of intermediaries and increasing speed to market will allow people to bring good ideas to market more quickly” said Mutter.

iComplyICO has opened its seed round and reported that it is generating interest from angels and VCs globally.

About iComplyICO (iComply Investor Services Inc.)

iComplyICO (iComply Investor Services Inc.) is a regulatory technology (regtech) platform that automates compliance procedures for initial coin offerings (ICOs), enabling them to be securely utilized as efficient financial instruments. iComplyICO streamlines legal and accounting processes providing automated checks and balances throughout the issuance, purchase and resale of encrypted digital share certificates. Investors, accountants, lawyers, regulators, ICO issuers and marketing firms all benefit from an ecosystem that supports trust, democratization, decentralization and integrity.

Learn more: iComplyICO.com