Most people associate Blockchain technology with the cryptocurrency “Bitcoin”. However, Bitcoins are just one feature of Blockchain technology. The Blockchain offers the prospect of payment and contract systems which bypass large banking and payment service providers, providing peer-to-peer contract and payment systems free from the costs associated with those providers and with increased security features over other platforms. A range of new electronic currencies look to take advantage of this low-cost and potentially revolutionary technology.
The Travelcoin Foundation has developed the first electronic currency specifically designed to provide a range of bespoke functions and features focused on innovating the travel industry. Their TravelCoin seeks to fund grants and develop projects that integrate with a global network of travel industry suppliers, providing a better experience for travellers. Its promoters aim to create
a new travel ecosystem, generating demand and value for its currency.
IWG’s Colin Winter, an expert on FinTech structures and regulation, has advised Travelcoin Foundation on the English EU legal and regulatory dimensions of Travelcoin’s initial coin offering and electronic currency operations. If you would like to discuss what IWG can do to assist your FinTech business, Colin would be pleased to talk to you.
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Colin Winter Partner, Corporate |