The LLC vs. Blockchain Trust®
Next Step for Limited Liability Companies (LLC’s)
What Is a Limited Liability Company (LLC)?
An LLC is a business structure that secures the owners from the burden of debts that can be accrued from doing business in high risk industries. The structure introduced in the 1970s, protects the owners from liabilities and excess taxation. LLC combines the benefits and characteristics of a corporation, and a partnership together. The structuring of an LLC to include limited liability may be similar to that of a corporation, but the system of taxation resembles that of a partnership. Owners of LLC are called ‘members’.
This business structure (LLC) also protects its owners from being liable to debts that were brought in the company’s stead; it ensures that when legal issues arise as regards to debt, that the owners are shielded from the effect. The effect and regulation of LLC’s vary, as regards the state in which you live in, but the principles are basically the same across America.
Even though LLC does provide some level of securities against debt, and excess taxation, there are still some limitations.
Limitations of LLC in comparison to a decentralized Blockchain Trust®
Any corporate entity or individual can be a member of an LLC, but banks and insurance companies are restricted. A Blockchain Trust® does not segregate, it is open to every individual and institution who has assets, and needs protection against corporate predators.
LLC’s don’t remit taxes on the profits that they make. The profit is spread across to members, and taxes are collected from their individual share returns. In comparison, a Blockchain Trust® is decentralized, tax-exempt and able to transact globally with 100% control in your hands.
Although an LLC may be easier to set up in comparison to setting up a corporation, it still doesn’t match the speed of a Blockchain Trust® registration, which takes less than 30 minutes to set up.
The amount of money spent in drafting Bylaws and other necessary structures such as an LLC Operating Agreement can become overbearing sometimes, however by registering your own Blockchain Trust®, we include all professional trust agreements into the setup price that fixes all these problems at pocket friendly price.
In rare circumstances, LLC’s may not provide adequate protection for members and their assets, in the sense that the court can “unveil” the protection mask to place penance on members of the LLC. With your own Blockchain Trust® the reverse is the case as protection for members and their assets is 100% guaranteed. Per adventure the court tolls the unveiling lane; your assets can’t be taken away since they are deemed not to belong to you but to the Blockchain Trust®.
The bureaucratic registration process and documentation which consumes time can make LLC transactions quite slow. With the Blockchain Trust®, transactions are swift and all documentation, receipts as well as other needed information are immediately provided and stored on the tamper proof Blockchain network.
If at any point, fraud is detected in an LLC, or if the organization fails in reporting adequately, or providing adequate documentation for their transactions, creditors or the IRS can come for the private assets of its members. In comparison, a Blockchain Trust®, registered on the decentralized Blockchain networks, offers transparency and security. Whatever transaction you make, is automatically recorded on the Blockchain and Blockchain Trust® assets are protected.
The Blockchain is an online ledger that records transactions in real time. It is completely forgery-proof, and the transactions done are totally transparent—anyone can see it. However, the Blockchain Trust® offers at the same time 100% anonymity, because you can register corporate shareholders to keep your personal name off the records. Every Blockchain Trust® is legally incorporated and registered in the Blockchain Business Registry under an individual Company Filing No. such as “000049991981” and an Authentication No. such as “BICRA2021.2110.8015” to identify and verify each Blockchain Trust with a different Company Filing No. and Transaction Hash No. on the Blockchain Networks.
Why trust us?
Blockchain technology was created as a response to the trust crisis that swept the world in the wake of the 2008 financial crisis. Bitcoin and other blockchain-based systems were presented as a “trustless” alternative to existing financial institutions and even governments. Yet, while the trustless nature of blockchain technology has been heavily questioned, little research has been done as to what blockchain technologies actually bring to the table in place of trust. Our business model draws from the extensive academic discussion on the concepts of “trust” and “confidence” to argue that blockchain technology is not a ‘trustless technology’ but rather a ‘confidence machine’.
At BancorpTrust, we understand that the most important aspect of any transaction is “trust”, that’s why our Blockchain Trust® registration process is decentralized but 100% secured on the Blockchain. A good asset protection will provide for you easy-step-by-step guides to implementation, transparent processes, solid structures and strategies that shield against creditor claims and incidents that could diminish your revenue. While we protect the members of any company affiliated to the Blockchain Trust®, we also help to protect the assets belonging to the company.
The popular quote of “A Dollar saved is a Dollar earned” completely plays out with the registration of your own Blockchain Trust® because you wouldn’t need to spend your hard earned money on taxes anymore. Hence, your saved taxes become extra earnings, which can be put into other areas of endeavor.
So, here comes the question you have been asking, who needs a Blockchain Trust® for asset protection?
Anyone with an asset, or a revenue generation stream needs to have their assets protected, and that includes you and your business. With your own Blockchain Trust®, the difference to an LLC is clear.
Protect yourself and your company against any possible future threats by registering your own Blockchain Trust® today!