Trittium incorporation, Based in Estonia
What are the advantages of incorporation?
Well as you know, this is Crypto and anything can happen.
From one day to the next, many of us have had some investment in one project or another that turned out to be a SCAM where the founders decided to sell all their coins, stop developing and disappear….and what did we do? Nothing, because really, there wasn’t anything we could do. We did not know their real names, or what country they were from, or have any data relating to these people at all.
We had nowhere to go and really, our investment was unprotected.
In fact, with a large part of the alts we deposit our savings in (and I speak not only of Masternodes, but POW and ICOs as well) we are in that same situation. If the team disappears, we have no information on them, and sooner or later the value of their project goes to zero.
As we can see, investing into Crypto requires a high level of trust and faith in the developers of the project.
But what if we invested in a project that had a real company behind it? A company with a license endorsed by the European Union?
A company required to have deposit guarantees, names, data, records … that is, somewhere we the investors could go if there were any problems.
Where in addition, the “first world” states have imposed on the company a series of guarantees for the investor / consumer in relation to certain types of activities before the company is granted with a license.
Cryptocurrency and blockchain technology is going to change the economic world of tomorrow. However, it is still a very new area, and sometimes treated with suspicion in the traditional business and financial world.
In general, there is a great deal of ignorance on the part of the population in this regard, and a lack of trust from the traditional financial sector.
Of course, all this is then translated at the governmental level into poor legislation that acts on the defensive and prevents innovation rather than looking to the future.
Undoubtedly, the biggest obstacle to overcome is the bank account. Banks have traditionally considered cryptocurrency — with bitcoin on the frontline — as its enemy.
Estonia however, is one of the friendliest countries in the world as far as cryptocurrency and blockchain technology are concerned.
It is also a member of the European Union and the company will therefore be in a respected European country instead of somewhere with less regulation, like Puerto Rico or Panama.
The fact that in Estonia you can create and manage your company completely online is also an important factor, especially for start-ups.
Finally, Estonia grants specific licenses for companies to work with cryptocurrencies, allow exchanges between currencies and to act as a wallet for their clients.
In fact, the only difficulties will come from external factors -such as banks- rather than government or Estonian legislation.
TRITTIUM WILL CREATE A COMPANY AND OPERATE LEGALLY
Such is the confidence of the Trittium developers in their project, in the next 10 days they will do just that: create a company, a legal entity, and then they will obtain a Fintech company license in Estonia, which is an indispensable requirement to intermediate in the assignment of credit, the sale of crypto-currencies and the issuance of debit cards.
Fintech is a disruptive industry that is gaining muscle. According to a forecast from analysis firm DBK, this type of technology will grow 91.3% between 2017 and 2018.
The requirements to operate in Estonia are governed by the European Union, so we are talking about a serious, legal and valid company that is just as credible as any other created in the UK or the USA, with real guarantees and with the same permits held by companies such as:
- Bondora: More than 9,000 investors.
- Fortumo: Mobile payments in more than 90 countries.
- Transfer-Wise: P2P money transfer
- Pocopay: Digital Bank.
- Admiral Markets: Forex and CFD
CONSEQUENCES AND FUTURE PERSPECTIVES FOR TRITTIUM
After the creation of the company and obtaining the Fintech company license (approximately 30 days after the company inception) Trittium will be a legal entity that can operate just like any other. Its executives will be listed and they will comply with the regulations required at the fiscal and regulatory level.
With all this, it will be much easier to find investors, for example the “official” money of institutional investors who can enter without fear of any type of possible fraud or embezzlement.
As you know, the money of institutional investors, who render accounts to third parties, requires that the company in which they invest in be legal and hold the appropriate licenses. Trittium will become a Fintech start-up that operates from one of the most technologically advanced countries within the European Union….The cradle of technologies like Skype!
The future for Trittium is bright and in Trittium we trust!!!!
Originally published at medium.com on August 2, 2018.