I am quite fed up with the current regulatory framework over securities that is supposedly protecting the poor little investors and I would like to see if there is any project out there, big or small, that is willing to implement a completely decentralised ITO/STO regulator institution.
My idea is the following, it might exist a regulatory body composed of X people that could, in a decentralised manner, evaluate specific criterias for crypto crowdfunded projects like: financial return, potential, risks etc.. (like banks and regulators do). The other projects providing notations I have seen so far are obviously centralised and biased per se as they accept fees and payments for their "Ratings".
It is my belief that we should counter regulators in providing such restrictive rules (security issuance, investment amounts, etc..) by showing strong self regulation and that is, through a decentralised regulatory body recognised by the people. If this initiative is a success, than it would prove the regulators that people can self regulate their own investment and finally free the ITO/
Is there any project like this out there? Or should we start to create one ASAP?
What do you guys think could be the benefits of a decentralised regulatory body? and its obvious challenges: how do you provide sanctions, partial evaluations and security.
(this is a semi hateful, semi hopeful post
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