As you may be aware, we’ve been busy figuring out the best possible legal structure for our platform. Obviously, our top priorities are safety of the investments, deep involvement of the stakeholders and legitimacy of the business.
Ultimately, we realized that due to the absence of the industry best practices and because our platform is very innovative, we have to be pioneers in many areas. However, we did manage to come to a conclusion of what we should change in our concept to make the project doable.
We will publish an article describing these changes in details in the next couple of days. As for now, we can name the most important changes.
1) We are selling new value coins rather than DAO tokens during our ICO
2) These new altcoins can be spent as follows:
- To invest in the DAO. The DAO is not a legal entity.
- To purchase insurance policies
- To buy insurance-linked bonds
3) We create a legal entity, which will be servicing the platform
More information is coming soon.
You can contact us in Inchain Slack: http://slack.inchain.io
Questions are welcomed as usual.