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British Blockchain Association launches World’s first Blockchain venture Transparency Scheme

British Blockchain Association launches World’s first Blockchain venture Transparency Scheme

The British Blockchain Association (BBA), in conjunction with Token Intelligence, have launched the Blockchain Venture Scheme which will support innovative blockchain ventures, giving them the credibility and visibility to increase consumer confidence and harness investment.

The scheme will help startups to achieve greater traction for their innovation through clarity of communication and demonstration of transparency.

In the ever-growing blockchain innovation space there is a lot of noise that ICOs and other new ventures need to cut through in order to get noticed. This takes effort and valuable time away from delivering on day to day activities. In today’s competitive market not only does a venture have to compete for attention with a lot of excellent startups ,but the waters are also muddied by scams and some bad actors, affecting the reputation of the whole industry.

The new Global Blockchain Venture Scheme looks to build on the BBA’s role to promote the comprehensive adoption of blockchain technology across the public and private sectors and positions the BBA as a global hub for blockchain startups. The scheme will help to ensure those promising blockchain solutions, who embrace transparency best practices, will get the credibility and subsequent visibility they need.

This unique, principles based, approach surfaces and rates a venture’s transparency level and in doing so encourages and supports best practices via data and clear signals. This is a unique global initiative, based on Token Intelligence’s tried and tested transparency framework.

The Blockchain Venture Scheme aligns with the UK Government’s recently published “DLT for Public Good report”* and in particular helps with the objective to “raise executive awareness across government, including at middle‐management level, of opportunities to evaluate, test and pilot potentially relevant applications of DLT.” Also providing data to academe while supporting innovation.

Along with the benefits of becoming BBA members at the start-up level, members participating in the Global Blockchain Venture Scheme gain access to the Token Intelligence platform. The platform is an evidence based, data driven, approach to the authentication of a venture’s transparency allowing token offerings to showcase their transparency through an easy to understand flagging system.

 Verification of Transparency: How it Works

A green status indicates successful verification, amber indicates unverified, while red indicates failure to validate on one score or another. Red flags indicate specific, outstanding, problems with transparency.

“At the BBA we believe that it will be an immense benefit to bring such offerings to our members. For our startup members we can help them elevate their projects. As well as providing an overview and insights for policymakers, our members and our community who can learn more about the projects in which they are investing and for our organisation. We can ensure we are delivering on our mission to make Britain one of the leading nations in the blockchain arena by promoting only the most transparent of ventures.” Says Sharon Henley, Director of Marketing and Communications at the BBA.

As the Blockchain Venture Scheme grows the BBA and Token Intelligence will continue to expand its range of offerings providing bespoke services for blockchain start-ups and creating packages to support custom needs.

“Good founders and good startups work hard to achieve clarity and demonstrate transparency because they know that greater transparency means faster, stronger connections with all stakeholders including investors, policymakers, influencers and end users. The Global Blockchain Venture Scheme is designed to help these teams achieve their key objectives through greater clarity and transparency bringing with it greater credibility and exposure that they cannot achieve for themselves.” said Barry E James founder and CEO of Token Intelligence.

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