Civic, Inc. is a VC backed, Delaware “C” Corporation. We recognized the token sale as a sale of software tokens/licenses which we are treating as revenue and paying taxes accordingly. This is in stark contrast to what many companies are doing in setting up offshore entities & trusts to avoid taxes and bypass the regulatory environments they are in. We don’t believe you can build credibility as a company by adopting that view and exposing stakeholders to potential regulatory risks and liabilities.
The core of Civic’s technology is the ability to create unique digital ID’s using mobile devices. We employed this technology in our token sale and required every person in the crowdsale to download and register using the Civic app. This ensured that we did not have the same person making multiples purchases. This model worked for us and others, like ZRX and now Doc.ai will be using Civic to ensure broader distribution of tokens.
Argon Group & Token Market: Providing community support, token sale infrastructure and helping potential buyers understand the nature of the token and its underlying technology. Providing technical support around all aspects of the sale and issuance of the actual tokens.