Here is ! it is done ! The first French company with its capital – a part – in crypto-currencies!
DuckCoinCoin relays its story, here’s what Chainsign says:
Us = Chainsign
ChainSign’s blockchain vision
ChainSign? It is a crypto-active society, which works to design and promote blockchain technologies and their practical uses at the service of businesses and citizens. This approach, in our opinion, is necessarily accompanied by the knowledge of our new legal environment as well as the experimentation of the degree of economic and social maturity of these subjects. ChainSign is a company that also has a direct way of approaching sensitive topics, who loves challenges and challenges, provocation and freedom … life!
To create such a company in a world a little constrained, the administrative procedures are often doubled some additional obstacles … Our vision of the blockchain would it be “too” disruptive?
Find a bank?
In general, finding a bank that accepts to manage the account of a company that “quench” in cryptocurrency is not easy, but it is a prerequisite. Many startups can testify. The forthcoming PACTE law will try to lessen these difficulties (cf right to the account of its article 26).
For ChainSign, after listening to various Angevin banks, more or less attentive, it is the Crédit Coopératif , so aptly named, which opened its doors and a company account … no problem! On the contrary, curious about our actions and our interest in local currencies, for example. However, we had clearly expressed our wish “insolent” to bring a share of our share capital in cryptos, as well as driving in a short time, an Initial Coin Offering ( ICO ).
The cold shower, rather cold, was a telephone interview in late July with the registry of the Commercial Court: never our interlocutor had heard about blockchain and cryptocurrency (well, it’s not the only one!). So when we specified our expectation: validate the status of ChainSign, including a share of the capital cryptocurrency … we understand that as it was, it was probably going to be very bad! At a minimum, the intermediation of a law firm was necessary.
The lawyers: no, do not do that!
Finding a law firm ready to send “crypto-statutes” to the registry is not easy! All of us have all spontaneously dissuaded; including a law firm yet specialized in cryptocurrency! Competent but pragmatic: why make complicated if it can be simple? Finally, we chose to be accompanied by the law firm Fidal , which had already defined a doctrine on the taxation of cryptocurrencies. An expertise more taxing than crypto, but this represented a first base to integrate them into our project. Nevertheless, like the others, they were first of all dissuaded. It was therefore necessary to prepare ourselves more to reassure our interlocutors (and ourselves) by “shielding” the process.
It was not necessary to “shake up” the institutions at the risk of never being registered, even though we already had customers to invoice (we can not do it if the company does not exist). We therefore opted for a stable cryptocurrency ( stablecoin ) and pegged to the euro, the EURS of Statis. We designed and implemented a “tortuous” procedure allowing all the actors to identify the origin and the owners of the “crypto-funds” and to note their effective transfers on an “account” (a public address Ethereum) univocally associated with ChainSign.
ChainSign registered: adventure to follow …
On September 21st, we receive an email from our lawyer, accompanied by the precious Kbis! The “crypto-startup” ChainSign exists! The adventure begin…
The approach is conclusive, and our country already seems able to host this type of activity.
The next step ? Accounting in crypto, its mysteries, its complex and very expensive taxation …
The Kbis of the company is visible here.
And on top of that, Chainsign reveals its method