Information Regarding the COMSA One-Stop ICO Platform
– Wait-and-See Approach Adopted Regarding New ICO Project in Japan –
TOKYO – August 6, 2018 – Today Tech Bureau, Corp., a fintech and cryptocurrency solutions company, announced that in accordance with the provisions set out in “the ICO solution for centralized businesses to adopt blockchain technologies -Whitepaper Summary Rev. 1.3- (the “Whitepaper”) that was published by the company on March 8, 2018, the following can be stated.
As being announced on July 2, 2018, Tech Bureau, Corp. has passed over the responsibility with a respect of the software businesses to Tech Bureau Holdings, Corp. due to the spin-off of the companies. Thus, by concentrating both the COMSA CORE and COMSA HUB software development, which are listed on the Whitepaper, in the hands of the aforementioned entity going forward, preparations for the realization of a one-stop ICO platform shall be promoted.
Meanwhile, concerning the domestic solutions business (which engages in ICO consultations along with the creation and sale of tokens, etc.), based on an assumption that cooperation shall take place with Tech Bureau Holdings, a decision has been made for it to be retained by Tech Bureau Corp. Unfortunately, however, for the purpose of conducting the aforementioned solutions business in a manner that is legally compliant, in that it is demanded that systems be put in place that allow for both business activities and customer protection to be conducted in a manner that is in accordance with the provisions of the Payment Services Act, concerning both the legal positioning and self-imposed regulations that exist regarding tokens issued via ICO, there is a debate currently taking place throughout the industry. Thus, for this company as well, regarding the domestic situation in Japan, so as to conduct the solutions business in a manner that is both legally compliant and suitable, Tech Bureau Corp. believes that sufficient time should be allowed for debate to take place. Accordingly, a comprehensive decision has been made that, against such a backcloth, the early implementation of a new ICO project would be difficult.
In accordance with the provisions set out in the Whitepaper that was published by the company on March 8, 2018, the following can be stated.
Additionally, regarding to the progress status on the businesses listed on the Whitepaper, it is planned to be disclosed accordingly with a continuous corporation with Tech Bureau Holdings, Corp.
The Present and the Future
The company in charge for each businesses which are listed on the Whitepaper, are as it is stated in the table below. The title of the businesses are equivalent to the item names on the Whitepaper.
Regarding to the further schedules on each businesses of “No.2 Development of the COMSA CORE” and “No.3 Development of the COMSA HUB”, which are listed below, they can be referred via “Information Regarding the COMSA One-Stop ICO Platform -Development Roadmaps for CORE & HUB Announced -” which has been published today by Tech Bureau Holdings, Corp..
|No.||Item Name||Status||Company Responsible|
|1||Development of COMSA ICO Token Sale Platform||Not yet
Planned to be implemented domestically by this company. However, not to be done until the environment is prepared.
Planned to be implemented overseas by Tech Bureau Europe SA (mainly in Switzerland).
Development of the COMSA CORE Adds pegged tokens and manages between different blockchains.
It converts the value of each into pegged tokens with the total volume controlled.
|Being implemented||Being implemented by Tech Bureau Holdings|
Development of the COMSA HUB Allows for token balances between master public blockchain accounts and
internal private ledgers to be controlled.
|Being implemented||Being implemented by Tech Bureau Holdings|
Development of Crypto Pegged Tokens and Fiat Pegged Tokens
Added as pegged to COMSA CORE and COMSA HUB.
|Planned to be implemented by Tech Bureau Holdings after the completion of Items Nos. 2 & 3 above|
Add multi-language user interface and customer support to Zaif Exchange
(English, Chinese and more)
|Being implemented||Being implemented by this company. Only English support has been performed, other language support yet not. Currently under preparation for other language support.|
|6||Add streamlined processes to list any ERC-20 tokens or NEM MOSAIC tokens on Zaif exchange||Implementation complete||Being continued by this company|
|7||Add /XEM and /ETH to all the currency pairs||Not yet
|Being implemented by this company|
|8||PR and marketing of COMSA solution and its related services||Not yet
|Planned to be implemented domestically by this company. However, not to be done until the environment is prepared. Planned to be implemented overseas by Tech Bureau Europe SA (mainly in Switzerland).|
|9||ICO Committee||In recess||In line with the wait-and-see approach adopted with respect to the domestic ICO project, the committee’s activities have gone into hiatus, with the organization itself being temporarily disbanded.|
COMSA offers a one-stop solution, providing clients with consultation, expertise and solutions to support their ICO campaigns and implementations of blockchain technology into their businesses. It is an integrated platform that corporate clients can use to fundraise by selling tokens, or tokenizing corporate assets. Tech Bureau, Corp. exclusively provides these services as a one-stop solution with its Zaif, cryptocurrency exchange, and mijin which is a private blockchain technology.
About ICOs and ICOs in Japan
ICO stands for Initial Coin Offering which are often called “token sales”. With this method, a company or project can sell assets digitally as electronic tokens to raise funds from the public.
In Japan, utility tokens sold in ICOs are considered to be “cryptocurrencies sold to unspecified persons” under the Payment Services Act, such that selling activities may not be undertaken unless registered as Cryptocurrency Exchange Services with the relevant local finance bureau.
The legal characteristics of ICO tokens must be reviewed on a facts-and-circumstances basis, so that they might be treated as Securities, or more specifically the Collective Investment Scheme, and be regulated under the Financial Instruments and Exchange Act of Japan.
About Tech Bureau, Group
Tech Bureau, Corp. and Tech Bureau Holdings, Corp., fintech and cryptocurrency group companies in Japan, the U.S., and Europe, develop software and services for blockchain technology. As a team and as a group, we have developed; mijin, a private blockchain software; and Zaif, a Bitcoin and cryptocurrency exchange platform. Tech Bureau Holdings and Tech Bureau recently launched a one-stop solution, COMSA, which provides companies with consultation, expertise, and solutions to support their very own ICOs and implementations of blockchain technology into their businesses.
For more information, please see the following URLs:
Press contact, Tech Bureau: PR / email@example.com / +81–6–6533–2230
About NEM.io Foundation Ltd
ABOUT THE NEM Foundation Ltd NEM.io Foundation is registered in Singapore, operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.
For more information, please visit: www.nem.io
Press contact, NEM.io: NEM@transform.PR / +1-415-595-2030
All product and company names herein may be trademarks of their registered owners.