CoinOffering Ltd. (
https://coinoffering.com ) is the first company in the world, which shares are represented by tokens issued in the smart contract deployed on the Ethereum blockchain. It is written in the Bylaws of the corporation registered by the state authorities of the Republic of the Marshall Islands.
According to the Bylaws, voting of the shareholders should be made in the smart contract, and dividents to be payid to shareholders Ethereum accounts.
Code of the smart contract as well as Bylaws of the company are open sourced and published on github:
https://github.com/CoinOffering Deployed code can be verified on etherscan:
https://etherscan.io/address/0x684282178b1d61164febcf9609ca195bef9a33b5#code This was made possible by the work of international team of experienced lawyers and programmers. CEO and CTO of CoinOffering Ivan Starinin and Alexander Salnikov previously were key players in the team which made one of the fastest cryptocurrency exchange ‘Margin Call’
CoinOffering uses advanced system for internationally recognizible digital signatures (
https://cryptonomica.net). Ethereum acounts owners can be verified via Cryptonomica.net system:
https://github.com/Cryptonomica/Ethereum-IdentityProof In the by-laws it is stated that all the possible corporate disputes should be resolved in online arbitration court of International Arbitration and Cryptography Centre (
https://github.com/Cryptonomica/arbitration-rules ) in London U.K. using ‘ex aequo et bono’ principle. Thus despite of tax free status from the point of corporate law company “lives” in U.K.
In contrast to "the Dao" and similar projects, CoinOffering is a legal entity that can legally conclude deals and own property, and has advanced legal mechanisms to resolve conflicts and disputes.
CoinOffering is developing the first market space for cryptoshares of blockchain-based companies, and for other legal blockchain secured assets, and offers for clients services for creating blockchain-based corporation by the same model it uses itself, but customized for special business needs of the customer. It’s like IPO but better.
CoinOffering is planning to make ICO using cryptoshares on its own web-platform in September 2016.
