London, England. 4NEW announced today that it will pause the current fundraising efforts on March 27, three days earlier than planned in order to allow the team to complete implementation of their KYC/Anti- Money Laundering (AML) compliance solution from technology partner, Ocular.
The team announced that once the KYC compliance is completed; the sale will re-open to allow investors the final opportunity to participate in the ICO before the next phase of the project; listing on exchanges.
Saransh Sharma, President of 4NEW, explained:
We have seen great traction throughout the ICO and we have received investments from not only the crypto investment community, but commitments from some major players in the tech industry via their private investment groups. By ending the sale early, we are providing the team with additional time and focus to implement Ocular’s advanced solution, which will protect both existing and new investors, providing a level of security that is imperative in today’s market.
Ocular integrates traditional name and personal data background checks with state-of-the-art identity verification mechanisms such as facial and voice recognition. This safeguards against ID theft, false registrations, Sybil attacks and other attacks which compromise and circumvent compliance.
We felt that we would sooner complete implementation of Ocular and then re-open the sale for a pre-listing event than wait until after the ICO; we see this solution as a great protection to all of our investors and thus placed a priority on it.
4NEW’s unique, waste-to-energy power generation solution will launch operations in late summer this year as the world’s first eco-friendly, tangible, waste to energy power plant entirely integrated on the blockchain network and dedicated to crypto-mining. 4NEW will collect waste, process it through a high pressured combustion chamber generating free energy and organic byproducts. This free energy is then applied to an onsite crypto-mining farm resolving the Achilles heel of cryptocurrencies; voracious energy consumption met with free energy production.
The 4NEW ICO will pause starting March 27 and resume in the coming weeks, following a complete integration with Ocular’s Anti- Money Laundering (AML) compliance platform that provides instant verification of a customer`s background (KYC). 4NEW’s ICO will re-open for a three-day pre-listing sale, the dates for which will be announced via the company’s community channels, website, and portal.
Images courtesy of 4NEW