Blockchain / Crypto Trust
Unita Finanz & Treuhand AG is convinced that blockchain technology will strongly influence our future in everyday life. It will be applied to existing processes on a day-to-day basis as well as to future business. We treat the topic proactively and have a network of various experts in the field of blockchain technology. The goal is to optimize our customers’ business processes, drive innovation and increase efficiency to create competitive advantage.
Inicial Coin Offering (ICO)
An ICO (Initial Coin Offering) is the digital answer of a classic initial public offering (IPO). If you are looking for a new funding model for your startup or expansion plans, an ICO is a modern alternative to raising capital.
We support you with the necessary expertise and coordination of your ICO. In doing so, we put together a team from our network that is individually adapted to your needs and manage or supervise the financing project. Our ICO services at a glance:
- Strategy Consulting
- Review of the overall strategy for completeness and necessity
- Structural & Tax Consulting
- Choice of the most suitable legal form
- Establishment of a company
- Examination of tax structuring options
- Preparation of tax assessment and correspondence with the tax administration
- Analysis and advice from an accounting perspective
- Organizational consulting, risk management and compliance
- Structure of the internal control system (ICS)
- Regulation and finance (partly by external lawyers)
- Advice on further legal steps (patent law, data protection law)
- Support in communication with the authorities (e.g. FINMA)
- Regulatory classification of your business model
- Monitoring and implementation of KYC processes for the purpose of complying with AMLA obligations
- Preparation of company valuations according to various valuation methods
- Creation of business plans for the white paper
- Technology and project consulting (by external IT partners)
- Valuation of smart contracts
- Debugging and searching for security vulnerabilities in the source code of your smart contract
- IT Process Audit
- Accounting with cryptocurrencies
- Tax advice for investors in blockchain assets
- Escrowing for ICO’s
What is blockchain?
The big advantage of a blockchain is that it offers the ability to exchange data and digital currencies without requiring a foundation of trust. Basically, the blockchain is a database consisting of transactions using a decentralized network of computers (“nodes”). Each “node” in the network keeps a record of all transactions performed and works to confirm additional transactions.
How does a transaction work on the blockchain?
- Transaction is requested from the network and sent
- Transaction is verified by the network and combined into new block, which is added to the existing blockchain
- Transaction is completed, secured and confirmed
Peer to Peer:
Monitoring of the transaction by a third party is not necessary
Open Source & Transparency:
All transactions are public and the entire network is transparent. The blockchain can be checked at any time.
Once a block is added to the blockchain, the transaction cannot be revoked.
The databases are distributed globally and know no national borders.
24h / 7 days:
Transactions are not bound to the business hours of the service providers and can be validated around the clock.
Cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Litecoin emerged as byproducts of blockchain technology. Cryptocurrencies, in their simplest definition, are virtual currencies traded on their own decentralized network. In a process called mining, “nodes” confirm transactions on the network by solving mathematical puzzles. The owner of such a “node” receives a reward in the corresponding cryptocurrency for confirming the transactions. The value of cryptocurrencies is highly volatile, which has led to significant market speculation. Here is a good overview of the cryptocurrency prices: https://coinmarketcap.com/
The term “smart contract” refers to computer programs that are capable of implementing agreements using blockchain technology. The terms of the contract are recorded as conditions and instructions in the code. The program itself is recorded on the blockchain, making it irreversible and resistant to censorship. The program can also control blockchain assets. This means it can store and transfer amounts of cryptocurrency. Its main objective is to allow two parties to trade without intermediaries.
Benefits for society
Diverse tech companies like Uber, Airbnb, and Kickstarter have proven that the sharing and crowdfunding economy is a success, but users of these platforms always rely on an intermediary. Blockchain, however, opens the door to direct interaction between customers and service providers, in part because it enables peer-to-peer payments. And this is precisely where the potential for the development of a fully decentralized sharing economy lies. However, blockchain technology offers several other areas of application, which are already being used today. Here are some examples:
Combating money laundering / KYC
The cost of identifying the origin of customer funds in the KYC (Know Your Customer) process can be reduced through cross-institutional customer verification, while increasing the efficiency of monitoring and analysis.
Intellectual property / patent protection
Illegal copying and redistribution of files are reduced by automating the sale of creative works online and protecting copyright through smart contracts.
Supply Chain Management
Thanks to decentralized ledgers, it is easy to check whether the background information, such as the origin and quality of the products being purchased, is true.
Blockchain enables cost-effective trading of renewable energy generated, for example, in neighborhood grids and small communities.