The network is a decentralized third generation private social media platform built for the next generation of users and creators. So far, IdentityMind has helped 150 clients whom are creating innovative, long-term ‘businesses of tomorrow’ using initial coin offering (ICO) or a security token (STO) offering to fund their companies, according to the company’s official press release.
If previously, there was an emphasis on utility-based tokens, now there is a movement toward securities-based ICOs, the company’s representatives said in the press release. Moreover, they also expect that the SEC and FinCEN (Financial Crimes Enforcement Network) will increase their examination of ICOs and take actions against those not following US regulations.
The company’s platform is build with a pre-configured set of KYC rules that map to US and international regulatory requirements. In addition, IdentityMind’s KYC Plugin allows ICOs to perform accredited investor validation on the participants. For more information about IdentityMind, please check out a detailed profile in our web fraud & e-identity company database.
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