At its heart, a token sale is generally a simple process. You simply create a token and then sell it. However, the simplicity of the process is often undermined by external issues that tend to arise in the process. These issues can include everything from legal concerns, a need for a marketing team, social media gurus, and the need for a crew to build your smart contract.
CoinLaunch’s new feature aims to eradicate these concerns from an otherwise simple process. According to the entrepreneur behind CoinLaunch, Reuven Cohen, CoinCreator will enable coin programmers to build quick and simple smart contracts in just a few minutes. According to Cohen, the team at CoinCreator has been searching for an end-to-end network which facilitated everything that an individual needed to build, deploy, and monetized compliant initial coin offerings (ICOs) quickly and efficiently. The team soon discovered that such a platform did not exist.
Cohen stated that if someone wants to create an ICO, it is usually an unnecessarily complex and expensive process which requires the individual to hire a team of blockchain developers, lawyers, accountants, marketers, social media experts, and many other individuals to help set up a smart contract. Cohen emphasized the difficulty of the process by stating that it is usually too overwhelming and generally discourages most people from entering the ICO industry at all.
CoinCreator starts off by asking the developer some basic details which include the name of the coin as well as a number of coins issued. After that, the developer can create a smart contract based which will control the flow and issuing of the tokens. According to Cohen, this easy process is still in compliance with all current regulations, as long as the developer connects the token to a utility, instead of selling equity.
CoinCreator was entirely self-funded. Cohen and his partner, Randy Clemens, are also currently planning their own ICO in 2018.
Cohen stated that CoinLaunch and CoinCreator are both user-friendly and a free service, which allows any user to create their own Etheruem-based ERC20 coin. The platform does not require extensive knowledge or experience on the part of the token developer. This could prove to be an interesting way to introduce competition into the market.
Cohen emphasized the platforms compliance with regulations by stating that all ICOs created via CoinLaunch are required to comply with regulations from KYC, AML, and other local regulations. Currently, the team is also working towards creating an integrated SEC-based crowdfunding compliance, especially in regards to Job Act Title III as well as Regulation A.
CoinLaunch’s new feature aims to eradicate these concerns from an otherwise simple process. According to the entrepreneur behind CoinLaunch, Reuven Cohen, CoinCreator will enable coin programmers to build quick and simple smart contracts in just a few minutes. According to Cohen, the team at CoinCreator has been searching for an end-to-end network which facilitated everything that an individual needed to build, deploy, and monetized compliant initial coin offerings (ICOs) quickly and efficiently. The team soon discovered that such a platform did not exist.
Cohen stated that if someone wants to create an ICO, it is usually an unnecessarily complex and expensive process which requires the individual to hire a team of blockchain developers, lawyers, accountants, marketers, social media experts, and many other individuals to help set up a smart contract. Cohen emphasized the difficulty of the process by stating that it is usually too overwhelming and generally discourages most people from entering the ICO industry at all.
CoinCreator starts off by asking the developer some basic details which include the name of the coin as well as a number of coins issued. After that, the developer can create a smart contract based which will control the flow and issuing of the tokens. According to Cohen, this easy process is still in compliance with all current regulations, as long as the developer connects the token to a utility, instead of selling equity.
CoinCreator was entirely self-funded. Cohen and his partner, Randy Clemens, are also currently planning their own ICO in 2018.
Cohen stated that CoinLaunch and CoinCreator are both user-friendly and a free service, which allows any user to create their own Etheruem-based ERC20 coin. The platform does not require extensive knowledge or experience on the part of the token developer. This could prove to be an interesting way to introduce competition into the market.
Cohen emphasized the platforms compliance with regulations by stating that all ICOs created via CoinLaunch are required to comply with regulations from KYC, AML, and other local regulations. Currently, the team is also working towards creating an integrated SEC-based crowdfunding compliance, especially in regards to Job Act Title III as well as Regulation A.