September 15th, 2017, The Financial Commission, a leading independent member-driven external dispute resolution (EDR) organization for international online brokerages that participate in global foreign exchange (forex), derivatives, and cryptocurrency markets, today announces certification of the Genesis Vision Initial Coin Offering (ICO).
ICO Certification Process
Following Genesis Vision’s voluntary application for ICO certification with Financial Commission, a rigorous review of its planned ICO – including its business and proposed platform was conducted to determined if it met set of requirements established by Financial Commission’s newly formed Initial Coin Offering Certification Committee (ICC) division.
During the due diligence phase of Financial Commission’s ICO certification evaluation process, over 150 important points were checked across categories including those set forth in Financial Commission’s certification guidelines for ICO applicants.
ICC Driven and Industry Standards
Financial Commission’s ICC consists of a panel of Financial Services (Finserv) and Financial Technology (Fintech) experts with backgrounds across multiple asset classes including foreign exchange, cryptocurrency markets, and digital blockchain assets, who volunteer to help drive the certification standards and protocols, as part of the ICO Certification service.
Commenting on the Genesis Vision certification, Financial Commission Chairman, Peter Tatarnikov, said: “I would like to congratulate Genesis Vision on their successful ICO certification with Financial Commission and wish them all the best with the Genesis Vision project. I am also glad to see that ICC, a newly formed division within our organization was able to contribute to help meet the pressing need of developing minimum industry standards while helping ICO applicants and the broader marketplace.”
“Our standards for ICO certification are new, yet are evolving quickly and alongside other recently formalised efforts including the ERC20 standard for Ethereum, and best practices issued by Consensys for smart contracts, a framework has been established for helping applicants demonstrate compliance while determining if they are capable of obtaining certification.”
About Genesis Vision
Genesis Vision will unite exchanges, brokers, traders, and investors into a decentralized, open and fair network, making the financial market even more global. The Genesis Vision platform combines blockchain technology and smart contracts to allow successful traders to rapidly scale their trading strategies by attracting investments from around the world. The Genesis Vision platform aims to provide an automated and absolutely transparent system for investment and profit distribution while helping to solve industry challenges that market participants face with existing platforms.
GVT is an internal currency of the platform and will be used to establish and settle transactions made on Genesis Vision. The official website is https://Genesis.Vision which contains the project’s white paper and details about the GVT Pre-Sale that is scheduled to start on Sep 15 09:00 UTC, as well as the planned Genesis Vision ICO start date.
About Financial Commission
Founded in 2013, Financial Commission is an industry-supported Self-Regulatory Organization (SRO) whose members join on a voluntary basis, subject to approval and strict adherence to membership rules, to maintain good standing.
Financial Commission provides efficient compliance solutions to its members, alongside its External Dispute Resolution (EDR) mechanism that serves as an effective channel for processing complaints from clients of member firms.
The ICO Certification service will be initially offered out of Financial Commission’s St. Vincent and the Grenadines (SVG) entity, FinaCom Ltd. To learn more about Financial Commission’s technology certification services, including the ICO Certification service for Fintech companies, click here or visit https://xcv.financialcommission.org