Projects

Thailand ICO Portal

For Longroot, the world’s first regulated Initial Coin OFfering portal, Atato has developed the ICO portal’s blockchain platform, built on Ethereum. Thanks to Atato’s rapid application development method, Longroot was the first company to receive Thailand’s Securities and Exchange Commission license for an Initial Coin Offering Portal.

Longroot is Thailand’s only authorised ICO operator under the Digital Asset Business Law. The company provides digital assets financing, and investment services for digital assets, fully regulated and licensed. These innovative new business models open the door to new financing mechanisms, and new investment products.

Background

Thailand’s Royal Decree on Digital Assets Businesses, published in May 2018, set a legal framework for blockchain and crypto-currencies businesses in Thailand. It regulates the crypto-currencies broker, dealers, and exchanges and sets a clear licensing process for them. It also created the concept of “Initial Coin Offering Portals”, authorised operators of ICO financing rounds for the Thailand market.

Longroot set out to become the world’s first regulated ICO portal, under Thailand’s digital assets business law. Thanks to Atato’s blockchain expertise, Longroot was able to comply with the regulations in place and ensure the protection of inverstors, coin issuers, and the security of its platform. Longroot was able to become the first company to receive this license thanks to Atato’s in-house development team, and rapid software development methodologies.

Atato's Solution

Longroot selected to use custom blockchain development services to build its platform:

    • Smart contracts development, for ICO contracts, token contracts and regulatory compliance.
    • Back-end development, handling security, blockchain transactions, compliance and administration.
    • Front-end development, with responsive web applications for inverstors and issuers.
    • Infrastructure integration, utilizing modern deployment technologies, and continuous integration platforms.

Why Blockchain

Blockchain investment products bring the following advantages:

  • Thailand’s Digital Asset Business Law, one of the most progressive in the world sets a clear legal framework for crypto-currencies, initial coin offerings, and tokenised securities.
  • Smart contracts, they govern the terms and conditions of the sale and ensure that the sale of investment product is executed in a faire, reliable and transparent manner.
  • Direct ownership, investment products are represented via “tokens”, standardised way to exchange assets on the Ethereum network.
  • Cryptographic security,all transactions, transfers, issuance of new tokens are backed by the blockchain’s signature based security.
  • Multiple exchanges, the same token can be traded on multiple exchanges, simultaneously. Investors are free to trade their titles.

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