The company intends to employ the best talent in this fledgling field in order to assist the introduction of Blockchain technology and novel solutions to it’s business.
The following Blockchain related developments have been announced via the London Stock Exchange RNS News Service in the first Quarter 2021 (see 1 to 4 below). The actual News Releases can be found in the News section of this website:
1) On March 1, 2021, the Company announced the appointment of Professor Olinga Taeed as Blockchain Advisor to the Company.
The Directors of Wildcat consider Professor Taeed to be a world leading expert in cryptocurrency and a pioneer within the cryptocurrency and blockchain world, with numerous achievements to his name. He was the first person to achieve a professorship in Blockchain when he was appointed to that position at Birmingham City University in 2018. He is also currently an advisor to the Chinese government, the largest and most developed blockchain market in the world, with a Digital Yuan currently being piloted.
He is presently the Editor in Chief of Frontiers in Blockchain, a prominent peer reviewed blockchain journal and is regularly interviewed by the mainstream media. His prominence in the world of blockchain and cryptocurrencies has even led to an invitation to deliver a speech to the Vatican. In 2017 Professor Taeed was the first person in the UK to conduct an official Initial Coin Offering (“ICO”) aligned with regulation (“Seratio”) and has been involved in over 20 crypto-fundraising projects since.
Professor Taeed will advise and assist Wildcat in our plans to implement blockchain technology within the Oil & Gas business.
2) On March 8th, the Company announced that his organisation CCEG (Centre of Citizenship, Enterprise and Governance) was appointed as Wildcat’s Blockchain Developer and Cryptocurrency Platform Developer.
CCEG being commissioned to firstly produce a report into the application of Blockchain technology to the Upstream sector of the Petroleum Industry and how to best implement this.
More information on CCEG can be found on https://www.cceg.org.uk/
3) On March 15th the Company announced details of specific Blockchain/crypto trademarks it had applied to trademark. The trademark applications being filed in the following classes:
CLASS 9 – Downloadable cryptographic keys for receiving and spending cryptocurrencies
CLASS 36 – Financial transactions via blockchain
CLASS 42 – Data storage via blockchain; Data authentication via blockchain; Certification of Blockchain; Blockchain as a service (Baas)
4) On March 24th the Company announced that an Interim Report from the Centre for Citizenship, Enterprise and Governance (“CCEG”) had been completed, received and reviewed by the Company.
The Company reported that the Interim Report highlighted numerous ways in which the application of Blockchain technology could be applied to the sector and that may enhance returns for shareholders. These included:
- First mover advantage, which may enable Wildcat to establish a dominant position within the upstream oil industry in relation to oil assets and tokens;
- Increasing Wildcat’s shareholder base around the world;
- Potential to revolutionise and democratise (i.e enlarge participation in) the oil and gas industry;
- Garnering institutional or sovereign wealth fund support for the project, particularly within oil producing Gulf States where CCEG has already established high level contacts in countries such as the UAE & Saudi Arabia;
- Enhancing shareholder returns via “Airdrops” (i.e issuing free tokens to shareholders);
- Establishing a global presence by registering in Dubai (Gulf investors) & Singapore (Far East investors) and;
- Potential to secure oil assets by the issuance of tokens alongside use of cash, debt or equity.
The Company stated that CCEG had presented the Wildcat Board with a number of possible business models, which the Company might be able to implement and the Board felt that there was a high probability that one or a combination of these models would be viable and would, importantly, be accepted by the Financial Conduct Authority (FCA) and fit within the current UK regulatory framework. As a result, the company mandated CCEG and specialist blockchain lawyers at ‘gunnercooke LLP’ to explore the best ways to drive these ambitions forward. They were mandated to produce a business model which would be acceptable to the FCA as well as to work with the Company in obtaining any registrations and/or authorisations which may be required for the model to proceed.
The Company also announced that in any future blockchain operation, Wildcat would also target investors in the oil rich Gulf States and the Far East, leveraging the extensive relationships that CCEG has established in these regions.
And that the token that Wildcat was looking to launch would likely be linked to barrels of oil in the ground when a suitable oil block had been acquired.
The executive summary of the CCEG report can be accessed via a link in the RNS news release and will also be loaded to the Download section of the website. Please note that commercially sensitive information has been removed from this PDF. The full Report is not being mace public. Our own Glossary of Acronyms used in the Report can be found at the end of this section.
gunnercooke is an award-winning full-service law firm, founded in 2010, to challenge, improve and evolve the way that legal services are delivered. At present, the firm is made up of more than 230 expert partners, operating nationally and internationally via offices and hubs. As of November 2020, the firm was named be named Law Company of the Year at The Lawyer Awards, in recognition of the services delivered to its clients.
Information especially relevant to their work in the Blockchain/Cryptocurrency arena can be found on: https://gunnercooke.com/practice-area/blockchain-cryptoassets-smart-contracts-and-defi/
Some of this has been extracted and is repeated below:
In the Blockchain/Crypto field, Gunnercooke has a market leading blockchain, cryptoasset, smart contracts and DeFi (Decentralised Finance) team, being uniquely able to advise DeFi networks, token designers and developers, blockchain platforms, crypto-exchanges, exchanges run using DLT (Distributed Ledger Technology), crypto-custodians, crypto-brokers, crypto-funds, and other participants in the blockchain ecosystem. Their team members have provided evidence to the All-Party Parliamentary Group on Blockchain, include named contributors to the UKJT (UK Jurisdiction Taskforce) statement on the proprietary nature of cryptoassets and have undertaken award winning FinTech (Financia Technology) work.
Highlights of work undertaken by gunnercooke team members include:
- Providing evidence to the UK All-Party Parliamentary Group on Blockchain on how to make the UK a leading blockchain economy.
- Advised one of the first companies to become FCA authorised in the sandbox [see definition of sandbox below].
- Advised on the first successful Initial Coin Offering in the UK.
- Advised on the first equity issuance settled on the blockchain.
- Advising three crypto-custodians on various legal and regulatory aspects of their business.
- Advised a regulator on setting up a sandbox
- Advised on setting up of one of the first tokenised gold trading platforms.
- Advised a range of firms on setting up crypto brokerage and custody platforms, including providing advice on the implications of facilitating different tokens.
- Providing opinions to banks regarding the acceptability of different firm models
- Drafting terms, conditions and policies for new firms.
- Assisting five firms in navigating through the FCA sandbox.
- Advising on funds on setting up structures for tokenising fund units.
- Advising firm with issuing a bond linked to cryptoassets.
Investopedia define sandbox as:
- A sandbox refers to an isolated—but fully functional—testing environment where software, applications (apps), and programs can be tested.
- A crypto regulatory sandbox allows governments and companies to test whether cryptocurrencies can be effectively adopted and how to implement regulations
Further details on gunnercooke can be found on https://gunnercooke.com/
BLOCKCHAIN/CRYPTO – A SELECT LIST OF ACRONYMS USED IN THE CCEG REPORT:
Anti-money Laundering/Counter Terrorist Financing
Brazil, Russia, India, China, South Africa (Emerging Economies)
Distributed Ledger Technology
Environmental, Social and Governance
Financial Conduct Authority
Conventional Government issued currency e.g USD, Euro. GB Pound
Initial Coin Offering
Initial Exchange Offering
Know Your Customer
Non Fungible Tokens
Politically Exposed Person
Prudential Regulation Authority (part of the Bank of England)
Sustainable Development Goals
Security Token Offering
UK Jurisdiction Taskforce
There are hundreds more out there !