DALLAS, Nov. 13, 2020 /PRNewswire/ — Alternet Systems, Inc. (USOTC: ALYI) today announced an update released from their financing partner, RevoltTOKEN. The update from RevoltTOKEN CEO, Henryk Dabrowski, is included below:
RevoltTOKEN ICO Update
The response to the RevoltTOKEN ICO has been tremendous. We are here at RevoltTOKEN are humbled by the number of people contacting us ready to purchase Tokens. We are also encouraged by the response and in reaction to the response, confident that RevoltTOKEN will meet or exceed its $100 million funding objectives.
We are making steady progress on the necessary preparations for the ICO. We are also trying to meet the eager market response by moving as quickly through the necessary preparations as possible.
We have previously announced that RevoltTOKEN is domiciling in Bermuda. Cryptocurrency is a relatively new financing tool. We have selected a sound technology platform, Ethereum, and we equally think it is important to prudently select a legal domain.
Bermuda is a globally respected business venue with a well-established and efficiently operating legal environment governing business transactions. Bermuda has elected to take a leadership role in facilitating a cryptocurrency business environment with a standard of integrity that supports investor confidence.
As eager as we are to quickly launch the ICO, are eagerness is balanced by our prudence in carefully insuring a sound regulatory approach into an environment with only a short history of rules and regulations.
We are confident our internal investment resources can satisfy ALYI’s intermediate requirements pending the ICO. If necessary, we are willing to increase our existing interim investment commitments.
In Bermuda’s defense, since we have engaged to domicile and register as a cryptocurrency, Bermuda, like everyone, has had to deal with the restrictions of operating in a COVID environment in addition to dealing with a hurricane coming ashore followed by another near miss. So, in addition to carefully managing a new financing tool, Bermuda is doing so in the face of some rather notable distractions.
In an effort to exercise the greatest prudence within the new cryptocurrency regulatory environment, RevoltTOKEN is currently exploring and intends to engage more than one registration venue. In addition to registering as a cryptocurrency in Bermuda, RevoltTOKEN intends to register in additional regulatory domains.
The public trading of stocks has 400 years of history to draw on for regulatory standards. Cryptocurrencies barely have a 10-year history since inception. We anticipate a set of universal regulatory standards for cryptocurrencies someday similar to the universal standard for stocks. At the moment, there is not much of a body of any rules and standards and different legal domains are developing different standards. Also, keep in mind, a larger number of cryptocurrencies trade today without being registered or licensed in any domain.
At RevoltTOKEN we think it is worthwhile to register in multiple domains in an effort to bridge the lack of a universal standard.
We look forward to the ultimate launch of the RevoltTOKEN ICO and working diligently to get there at the right time with the right amount of structure. We will continue to keep you posted on our progress.
For more information and to stay up to date on RevoltTOKEN’s latest developments, please visit www.revolttoken.com.
For more information and to stay up to date on ALYI’s latest developments, please visit www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
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SOURCE Alternet Systems, Inc.