Earlier this year the FreeZone Company (freezone.one) has announced the establishment of the first free crypto economic zone. The purpose is to provide crypto and blockchain business with all the conditions for legal and comfortable operating.
FCEZ is to be found in a country with a crypto-friendly environment and a favorable economic climate that implies a capacity for no taxes, transparency of crypto-market legislation and secured cryptocurrency flow.
Fundraising for FreeZone will be conducted through the ICO, which is scheduled for 3rd of April, 11.00 GMT. The hard cap to be raised for project’s development is $100.000.000. Funds from the ICO will also be used to establish 5 businesses within the FCEZ, namely a universal trading platform, the fiat crypto bank, the crypto investment bank, a fiat-crypto payment system, and a marketing agency.
FreeZone plans to build the whole infrastructure for blockchain companies, forming the ecosystem, where companies can find all the needed services.
Currently, FreeZone is in contact with 29 countries’ Central banks and Ministries of Finance and Economy regarding initial agreements on the FCEZ. The next step for the company is developing the required legal framework and implementing it in the country chosen to host the FCEZ. The choice will be based on the best conditions for blockchain-based business and development opportunities.
FreeZone’s own enterprises will finance the social programs specially developed for FreeZone community members, provided either free of charge or at net worth. Social initiatives will include a charity organization, human rights defense assembly, free educational programs, worldwide legal support services, etc. All community members will be able to benefit from these services via easy to use and comprehensive app.
Several countries have already expressed interest in establishing the FCEZ on their territory. FreeZone CEO and co-founder Evgeniy Mukhin has already met with representatives from Georgia, Armenia, Malta, and El Salvador, and is in close contact with Latvia, Kazakhstan, Lithuania and other officials.
This is the first initiative of its kind in the world, making any country that eventually becomes the FCEZ host will be the world’s center for blockchain commerce.