Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority (FINMA), has announced that it has launched proceedings against initial coin offering (ICO) issuer, Envion AG. Also Read: Bolivar ‘Anchored’ to the Petro to Be Issued in August, Maduro Says FINMA Launches Proceeding Against $100 Million ICO A press release published by the Swiss Financial Market Supervisory […]
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The initial coin offering industry is plagued by scams, shady projects, and a lot of miscommunication. In the case of the Envion ICO, the founders are suing Matthias Woestmann and his corporation for breaching contractual obligations. This legal action against the shareholders of Envion AG, registered in Switzerland, doesn’t bode all that well for this particular project. What is Going on With Envion? As we have seen with the Tezos ICO, a discrepancy between initial promises and the end result often leads to legal action. While the Tezos team was capable of resolving such concerns amicably after a few tough months, it
China’s renewable energy sector wasted more than 60 TWh of electricity in 2016 owing to inadequate transmission infrastructure to transport power to its energy hungry big cities and industrial hubs. Meanwhile, power-hungry Bitcoin miners were stealing processing power from computers to meet their annual demand for 32 TWh of electricity. Envion has a smart solution to match global energy supply and demand—Mobile Mining Units (MMUs) that can easily be transported to a renewable electricity generation source in China, or elsewhere in the world. Disclosure: This is a Sponsored Article Accessing stranded power via portable cryptocurrency mining operations is a solution