iCash Blockchain-Based Token To Launch

January 12, 2018

iCash — a new Ethereum blockchain-based token — will be launching, with the company saying they selected Bermuda as the jurisdiction to set up iCash “because of its business friendly and forward thinking international reputation.”

Conyers acted in connection with the formation of iCash Ltd., a Bermuda company, and the development and creation of iCash, a new Ethereum blockchain-based token.

Will McDonough, the co-founder of iCash and FaceOff, said, “We chose Bermuda as our jurisdiction to set up iCash as our token issuer because of its business friendly and forward thinking international reputation, one which is clearly ambitious to move ahead swiftly, while prudently, to develop blockchain and token technology.

“It was great to work with the experienced team of attorneys at Conyers as well as the Bermuda Business Development Agency team to help us establish iCash in Bermuda”.

Director, Chris Garrod and Associates Jacqueline King and Cathryn Minors worked on the matter, and Mr Garrod said “iCash is another example of an innovative and world-class token issuer which has chosen Bermuda for their offering”.

In terms of the potential of blockchain and token vehicles generally, Mr. Garrod said, “Bermuda is committed to creating a regulatory framework for vehicles using this kind of distributed ledger technology and the Bermuda Government, with the assistance from the Bermuda Business Development Agency, recognise the importance this growing sector represents to the Island.

“Conyers has a dedicated team of attorneys working in this innovative arena and we are happy to be working with both the Government and the Bermuda Business Development Agency to develop it”.

iCash will be launched shortly in order for purchasers to access FaceOff, a peer-to-peer social sports and gaming site.

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Comments (13)

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  1. wahoo says:

    I don’t know maybe I am just a little thick but I cannot understand this stuff it sounds like imaginary money that someone will sell you for real cash.

    • Charles Mumford says:

      The tax man will never find out anything about it.

    • aceboy says:

      I don’t invest in anything I don’t understand and this stuff I don’t understand.

  2. JohnBoy says:

    Can someone explain this in English please?

  3. Jus' Askin' says:

    How will this benefit the people of Bermuda?

  4. Me says:

    More like how will this benefit government ministers and mr B

  5. Local says:

    Buying the token is very similiar to buying shares in the company. But the shares which are called tokens are traded on the blockchain.So depending on how good the company does the token value will rise. Also, these new companies are benifiting our country by using our law firms, hiring locals to help run there company, shopping in stores, eating at our resturants, renting our apartments and office space.

  6. King Jammys says:

    So when can I bring in bags of cash and get these virtual coins? Do I have to wait to exchange it or sell it for real currency? Can I then transfer the real currency into a bank account?