AMLT ICO: A Token of Compliance; Making Crypto Capital Flows Transparent and Secure
AMLT is a token designed to provide solutions for the key problems and needs of the blockchain ecosystem participants - effective compliance and AML procedures
Initial coin offerings (ICOs) are innovative fund-raising vehicles that have gained massive popularity with startups. Last year, ICOs raised around $4 billion, and the pace looks set to increase in 2018. The ICO ecosystem, which is based on smart contracts and blockchain technologies, provides endless opportunities and is recognized by financial institutions all over the world.
However, this is a market still in its infancy and suffers from a number of serious problems. The same issues plague the crypto space as a whole, barring mass adoption, particularly by traditional markets and financial institutions.
What are these issues?
1. Reputational risks. The crypto world has to close the huge credibility gap created by a multitude of fraudulent or simply worthless projects. Regulators worldwide, including the US Securities and Exchange Commission, have warned against participation in ICOs, and a spate of ransomware attacks has also left crypto’s reputation in tatters.
2. Compliance risks. Traditional financial institutions such as banks and money managers lack the proper tools to assess regulatory compliance when dealing with cryptocurrencies and ICOs. Non-compliance may lead to substantial fines or even litigation, which are major roadblocks to the mass adoption of cryptocurrencies as investment vehicles.
3. Counterparty risks. Crypto market participants need access to reliable information about their counterparties to avoid high transaction risks and involvement in money laundering or terrorist financing. This is another stumbling block in the way of widespread adoption.
What’s the solution?
AMLT, backed by a global RegTech enterprise, Coinfirm, aims to solve all the problems listed above by providing access to risk assessment and comprehensive information about cryptocurrency market participants to make cryptocurrency and ICO capital flows more transparent.
Equipped with thousands of proprietary algorithms, the AMLT platform helps meet compliance needs and lowers counterparty risks by providing valuable data such as risk rating, KYC information, behavioral profiles of the participants, and financial insights, to name but a few.
Pawel Kuskowski, Coinfirm CEO and Co-Founder:
“AMLT is a key link in Blockchain, helping business to ensure transparency and safety - to protect themselves, their customers and grow, by solving one of the largest Blockchain needs - effective compliance and AML procedures.”
How does it work?
AMLT platform users are encouraged to evaluate market participants and supply information that is necessary for smooth and risk-free system functioning. In exchange, they get AMLT tokens that can be used to receive discounts on AMLT reports and analytics, as well as access to platform tools and services.
The AMLT crowdsale started on December 12, 2017, and ends on January 30, 2018, with 6 days to go. There are 210 million AMLT tokens available for purchase, while the total supply is limited to 400 million. The team has already reached the soft cap of $1 million during the pre-sale stage, while their ultimate fundraising goal is $16 million. At the time of writing, the price of 1 AMLT is 0.0003387075 ETH.