Deloitte CIS and blockchain solutions developer Waves Platform signed a memorandum on strategic partnership. A joint press release published on the Deloitte CIS website and the Waves Platform blog states that the partnership is aimed at providing clients with comprehensive initial coin offering (ICO) services and customized blockchain solutions tailored for specific business tasks.
“Blockchain technologies are gaining ground, already allowing start-ups, investors and other stakeholders to quickly raise significant funds in cryptocurrencies,” said says Artem Tolkachev, Director of Legal Services for Technology Projects at Deloitte CIS. “However, the cryptocurrency market is relatively young, and not all the regulatory mechanisms are in place. This is why we are glad to cooperate with Waves Platform and are confident that our joint effort will help create the necessary conditions for putting together the legal framework for blockchain projects both in Russia and the CIS.”
With offices in Russia and nearby countries, Deloitte CIS represents Deloitte in the region, offering audit, consulting, corporate finance, enterprise risk, and tax and legal services. Deloitte is one of the largest professional services firms worldwide with a presence in over 150 countries.
“Our partnership is a significant step towards mass application of blockchain technology,” said Waves founder and CEO Sasha Ivanov. “Presently, blockchain companies are not regulated, as there is no existing legislation as such. Our strategic partnership with Deloitte will allow us to take active part in the formation of this regulatory landscape. It is important to join this process both for us and the entire blockchain industry in Russia and the CIS.”
The Waves Platform, Russia’s biggest blockchain project, is a decentralized ICO platform, with features to facilitate crowdfunding and creation of digital tokens. “WAVES is a decentralized blockchain platform focusing on custom block chain tokens operations,” states the Waves whitepaper. “National currencies transfer is maintained on the WAVES blockchain through compliant gateway operators. Decentralized token exchange facilitates fundraising, crowdfunding, and trading of financial instruments on the blockchain. Lightweight clients provide an easy installation procedure and a flat learning curve for end users.”
The partnership will also develop legal mechanisms for regulating ICO projects. Deloitte will provide consulting and methodology assistance to businesses and government bodies, and Waves will focus on technology solutions and marketing.
In related news that provide a representative use case for the Waves Platform, the Starta ICO, launched on July 4, wants to “democratize venture capital funding” by enabling anyone to invest in the Starta Accelerator, with options to exit at any time by trading investments using a blockchain token. The Starta Accelerator is an acceleration program launched by Starta Capital VC Fund in 2015 to empower Eastern European frontier technology companies through exposing them to USA market.
“The project represents a hybrid between old and new forms of investing, and has been described as the future of venture capital,” notes the Waves blog. “It leverages the cutting-edge technology of the Waves blockchain with the most rewarding but exclusive forms of investment in the traditional financial industry.”
Cross Coin, a Singapore-based company, will take a stake in the 21 companies in the Starta Accelerator using funds collected in the crowdsale in return for tokens on the Waves blockchain.
Image from Creative Commons Images.