Best ICO's for this month!

Blockchain is already being used for gold trading, with companies and mints offering customers digital gold tokens to be used in place of the gold, which remains safely in their vaults. While gold trading is straightforward as compared to oil and gas, this initial step may be a catalyst for other industries, and the basic structure will be ready to duplicate and customize. As with many technological advancements, it takes time for people to become accustomed to the technology and adopt it, and the use of blockchain for cross-border payments is increasing rapidly as it becomes a more accepted transaction method. Blockchain taxation legislation has yet to be drawn up by governments and is needed to determine, for example, when and where transactions will be deemed to have taken place for direct and indirect taxation purposes. If companies are required to include identification data in the blockchain, this could be easily addressed because their ownership structures, including beneficial ownership, would become more transparent. For example, the blockchain could evidence what is being supplied and to whom (e.g., a business customer or a consumer), which would determine in which location the transaction is subject to indirect taxes. Indirect taxation, in general, could benefit greatly from the clarity that blockchain provides, but the taxation implications will be situation-specific and legislation will need to address this. Clear guidance will be needed to determine whether a cryptocurrency would be used in the same way as money (e.g., bitcoin) and, therefore, likely would fall outside the scope of a VAT system; or whether any restrictions relating to the redemption of the cryptocurrency would deem it to be a barter transaction or similar to a loyalty points system, both of which incur different indirect taxation treatment in most VAT systems. The reality is an array of problems, ranging from equipment repairs to dry holes, can arise and should be addressed with investors. However, many investors have found companies go silent 8 when there are problems – particularly when they have downplayed the risks when soliciting investors. Too many companies fail to bridge this gap by providing their investors access to important updates pertaining to oil & gas projects. As a result, investors have less confidence in the performance – or even the legitimacy – of oil and gas investments. Cryptocurrency allows us to directly invest in oil and gas projects. Through the use of smart contracts, we can now replace paper and complex legal agreements that are cumbersome, difficult to transfer and can be hard to track for the average person and even for sophisticated investors. Our solution for commodity investing (mainly in oil) would be to switch to a digital system along the lines of Bitcoin but linked to an asset. This solution is the PERMIAN Token (XPR). Imagine a vault of oil barrels. The oil barrels are owned by "Oil-owner Inc." and the vault is owned by "Vault Inc." Vault Inc. has a spectacular reputation and third-party auditors who verify the amount of oil barrels in its vault. Oil-owner Inc. could offer a digital token to the public that represents ownership of the oil barrels and through a smart contract with Vault Inc. maintain a public off-chain registry that relates fractional interest in the gold with the tokens. For every token sold, Oil-owner Inc. transfers ownership to Vault Inc., who holds it on behalf of the token owner. Vault Inc. guarantees redemption of the value price of oil barrels by anyone who can prove ownership through a digital signature. Oil-owner Inc. can take advantage of the fact that Vault Inc. is trusted (and audited). Owners of the tokens rely on Vault Inc.'s representations and not on Oil-owner Inc. (even though Oil-owner Inc. is the token issuer). One of the main advantages would be that buyers of the tokens could know that they are the only person who has received the token, whereas a buyer of a paper certificate has no way of knowing that the same certificate hasn't been sold to multiple people.