Published On: Sun, Aug 6th, 2017

Filecoin Regrets Shutting Out Supporters to Meet SEC Regulations

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On August 7, decentralized storage network Filecoin is launching its token sale through the SEC-compliant CoinList platform. The much-anticipated project has already garnered close to $52 million in investments from Silicon Valley big wigs ahead of the ICO on Monday.
The Filecoin Project

Filecoin is a project that was started by Protocol Labs in 2014, its goal is to provide an efficient data storage solution based on a decentralized network protocol called IPFS. The IPFS protocol is also developed by US based Protocol Labs and it aims to replace HTTP with a P2P hypermedia protocol. With Filecoin, users can install a software which stores data on their hard drives and in exchange receive filecoins that can be traded for Bitcoin, ethereum, USD and more.
Filecoin Tokensale

Unlike other blockchain projects, Filecoin decided to take a different path with its ICO. The Filecoin token sale will be hosted on the CoinList platform, which was developed by Protocol Labs and the prominent startup platform AngelList. The token sale will fully compile with SEC funding regulations and also be available for U.S. citizens. However, unlike other token sales, CoinList will only permit verified investment firms, banks, and high net worth individuals to …

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