Gora LLC has advised companies implementing blockchain technologies, as well as counseling on ICOs, utility token sales and other cryptocurrency issues, including MSB licensing across the US.

What is Blockchain Technology?

You might have heard a thing or two about Bitcoin and other cryptocurrencies lately. Cryptocurrencies have gained so much popularity over the years and almost everyone is talking about it. In fact, more and more people are drawn into investing into cryptocurrency but are still clueless of what it is all about. And you might be wondering what particular technology is behind it.

The answer is blockchain technology. The thing is, only a few people understand what it is and how it works. If you are not one of them, read further.

The Truth about Blockchain Technology

A blockchain is a special type of decentralized database system used for recording different transactions across many computers. It was popularized by the Bitcoin digital currency system. It is a public ledger of all the transactions involving cryptocurrencies. This way, the record would be quite impossible to be altered retroactively without the collusion of the network and the changing of all the subsequent transactions. Basically, it is the technology behind bitcoin and other virtual currencies.

 

In simple words, blockchain is a platform that enables cryptocurrencies to be exchanged with extreme security measures. It offers anyone the ability to create operations and businesses that are both flexible and secure.

A Closer Look Into Blockchain Technology

Nowadays, there is a rising demand for blockchain-based services. Blockchain itself is advancing at a fast pace. Now, it is best to take a closer look into this technology.

 

A blockchain database is comprised of two types of records: transactions and blocks. In this technology, the users are also the administrators. In a distributed time-stamping server, the databases can be autonomously managed in order to exchange information between the disparate users. The record of transactions is unchangeable. Every transaction is time-stamped and linked to the previous one. Each digital transaction or record is known as the block. Blockchain, therefore, is a series of blocks.

 

Whenever a new data is entered, one cannot undo it. It can never be deleted. This means that blockchain provides a true and verifiable record of every single transaction made in the system. Since it is decentralized, no particular organization has the control over any data. This invisible technology is changing how the world works in terms of services and transactions.

A Final Thought

Bitcoin and other cryptocurrencies are entirely public. This means anyone can participate. Since blockchain technology facilitates secure online transactions, this gives peace of mind to every person who invests in virtual currencies.

There have been a growing number of people who invest in cryptocurrencies like Bitcoin and Etherium. One of the possible reasons is the fact blockchain technology has revolutionized the financial services industry. It has paved way for empowering millions of people across the world to authenticate and do real time transactions fast and without costly intermediaries.

Blockchain technology is still in its infancy. However, banks, hospitals, clinics, legal offices and other businesses are interested in this technology because of its potential to speed up the operations and systems at a lower cost.

Gora LLC Advises on Cryptocurrency, ICOs, Token Sales and Blockchain

  • Represent buyer of multi-million mining operation in Sweden and corporate issues.
  • Advise consultant of AppCoins on advisory relationship and activities.
  • Advise clients on money services business and money transmitted licensing requirements under federal and state laws.
  • Render opinions on New York Bitlicense regulations.
  • Technical implementation of ethereum blockchain.
  • Advise on fund formations utilizing cryptocurrency trading strategies.
  • Advise on ETF issues for bitcoin and other cryptocurrencies.
  • Advise on international ICO expansion to various countries, including, for example, Singapore, Vietnam, China, Hong Kong, Taiwan, Germany, Switzerland, Dubai, and Guernsey.
  • Advise on ICO and token sale for asset-backed tokens.
  • Advise on CFTC regulations for commodity deliveries, futures and options for bitcoin, ether and other cryptocurrencies.
  • Counsel client on forming fund for issuance of tokens to participate in ICOs and utility token sales.
  • Represent ClearCoin on utility token offering for its ICO.
  • Counsel CoinGenius on ICO issues.
  • Advise CoinFlip on ICO and money services business license issues.
  • Counsel Presence PBC on ICO issues and securities offerings.
  • Advise consultant of ATMCoin on ICO compliance issues and US operations.
  • Draft, review and comment on White Papers for blockchain technologies, ICOs, utility token offerings and cryptocurrency issues.
  • Draft Purchase and Sale Agreements for ICOs and utility token offerings.
  • Draft, review and revise terms of services and terms of conditions for ICOs and utility token offerings.
  • Strategic planning for ICO and utility token offerings.
  • Represent buyer of multi-million mining operation in Sweden and corporate issues.
  • Draft Purchase and Sale Agreements for ICOs and utility token offerings.
  • Draft, review and revise terms of services and terms of conditions for ICOs and utility token offerings.
  • Strategic planning for ICO and utility token offerings.