AMA with Safe Haven’s Chief Executive Officer, Q&A’s
1. How come you’re one of the few ICOs that allows US investors to invest (and China too believe?) — does this mean you are a security?
Dujardin: When evaluated by a competent party in correlation with the U.S. Supreme Court’s decision within SEC v. W.J. Howey Co., the SHA token does not meet the pillars of the “Howey Test” — the test that designates assets as a security. Furthermore, solid arguments can be made by a competent party in relation to such.
2. Will there be SHA masternodes in the future? If so, what will they be used for?
Dujardin: Yes, we will have SHA masternodes. Individuals and projects that utilize our solutions will be afforded the opportunity to lock away the SHA digital asset and have premium access to our solutions. We will come with more details after our TGE.
3. How can the average lawyer or financial advisor use SHA?
Dujardin: Our Trust Alliance Network is our gateway for legal entities or financial advisors to sell the SHA products to their clients. The SHA solutions and TAN will work in close harmony. For example, if you want to select a legal entity in our platform, he is coming from the TAN. To be selected he needs to be premium member and lock away SHA tokens for 365 days.
4. How is the setup of the TAN currently is progressing?
Dujardin: Our TAN is 99% complete. We are currently uploading documents, news and integrating our first TAN members. The release will be very soon.
5. Your competitor, Digipulse, gave up on blockchain adoption. Why do you think SafeHaven has what it takes to outdo them, especially in this market?
Dujardin: We are a B2B2C platform and encourage enterprises, communities and developers to develop solutions on our protocols. This is the key to success.
6. How does ThorBlock enable US investors to ICO pool while still staying compliant?
Dujardin: We built a solution for everyone to participate in private sales. We wanted to give the power back to the community and allow everyone the best opportunity for bonus. It’s up to the pool admin or the project to administer the necessity of KYC.
7. Is ThorBlock merely for ICO sales or is it also possible to pool for private sale?
Dujardin: ThorBlock is a product we have built for the pre-sales, private sales, and early stages in the upcoming VET ICO’s
8. How easily replicable are your solutions? Do you feel there is any danger of a rival big player throwing a large wad of money to replicate and enhance your offerings, essentially sinking Safe Haven?
Dujardin: Our products are built on top of our own protocols. These protocols are made by the Safe Haven team and protected worldwide. We have experts in patent registration within our team.
9. Your hardware ledger that’s coming out, how is it different to say a regular Ledger we all know? Why would I get yours, which isn’t a proven product yet, over Ledger which is — and supported by VeVault?How is your hardware ledger different than a regular ledger? What is the benefit of yours over Ledger, which is supported by VeVault?
Dujardin: I would not say that the SH ledger is not a proven product. We are working very close with Nitrokey who has clients like Nvidia, Uber, Google, BBC, Visa, Bosch, Adobe, and many more. They have the experience and knowledge to provide the best and only open source hardware ledger in the world.
10. Will we be able to use and setup services like secret sharing or is the Safe Haven vault directly from our VeChainThor wallet?
Dujardin: We are building our own platform and application that will provide these solutions. Of course, we will support the VeChain wallet. Making wallets inheritable is one of our core solutions and we want to roll it out very early.
11. What are your plans (if any) for integrating with the VeChain wallet app? Will SHA nodes, ThorBlock, etc. be connected to the app in some way, either directly or indirectly?
Dujardin: The ThorBlock and other solutions that require a wallet will have either the SHA desktop or mobile wallet integrated, allowing for storage of VET, VTHO, SHA and other VET projects. You will be able to generate VTHO and exchange assets within the wallet.
12. Q3 2019 Hardware ledger integration + sale. Does hardware wallet support other cryptos outside of VeChain ecosystem and is this wallet is different from what VeChain is planning?
Dujardin: Yes, the wallet will be able to store other projects, our own digital shares from our inheritance platform, and other information. We conducted a survey within the community a few months ago, 16,000 people offered their ideal ledger preferences. Based on those inputs, we are building the ledger. I have not seen the details yet from the VET hardware ledger, but as I know thus far our CTO is talking to the technical team from VeChain about these wallets and if we can find a synergie between them.
13. Are the products and solutions checked by 3rd parties to make sure they are safe and secure to use?
Dujardin: Please take a look at Hosho’s recent Twitter post: https://twitter.com/hoshogroup/status/1048303837746933760
14. Hypothetically, say you were to pass away in the near future, what are the contingencies you currently have in place for your own crypto inheritance and other digital assets? And what about when Safe Haven’s solutions are fully deployed, could you give us a glimpse of what you would have in place then?
Dujardin: Encryption is the most safe and powerful solution in such a scenario. Encrypt your private keys, give some shares to your children, wife, family and lawyer. The moment you pass away they can merge the shares and the lawyer will agree and release his share from the blockchain. This allows you 100% control of your funds when you are alive, yet gives a legal entity the ability to distribute the funds upon your passing as you indicated within smart contract.
15. What crypto asset management tools can we expect in the future?
Dujardin: Pooling solutions, masternode solutions, leverage trading solutions, desktop wallets, mobile wallets. We are building all kinds of asset management solutions at this moment.
16. Is it true that you had 16k people involved with the poll about desired features for the Safe Haven hardware wallet, and if so what are some features that you believe will come to fruition once the product is ready for release? When is it scheduled for release?
Dujardin: The release is scheduled for Q2 2019. Yes, we had over 16,000 people participate in our Ledger survey. With this information we had a brainstorm session with NitroKey to build the perfect Ledger based on the community needs.
17. How many partners or potential users from medium to big firms have shown interest in Safe Haven’s solutions? Has the team reached out to crypto exchanges to offer your custody solution? Is this a useful tool for people looking to create automated fiat to crypto exchanges similar to Coinbase?
Dujardin: Yes, we reached out to several exchanges already and some exchanges reached out to us. Our asset management and inheritance solutions will be integrated over time and we will build custom solutions depending on their needs.
18. What utility will SHA have other than being held to use your services?
Dujardin: SHA will be used as gas in some solutions; will be used as a locking mechanism; reward systems; and masternodes. In every solution we are building, SHA will have his purpose.
19. With your move to VET the very first investors are not getting a very fair deal, nor any real incentive. I believe the ratio of the first investors to the current rounds the ratio is 1/10, meaning the new tokens will be 1/10th of what the value was a the time of the initial ICO. It would be very easy to have rewarded the first initial investors (and founders, too) who have believed in this project from the start … and maybe ease some of the pain folks are feeling in this market?
I’m not saying the risk wasn’t understood at the start, but there is an opportunity here to bring back some of the crypto magic! Why weren’t the initial ICO token holders given a better conversion ratio? What was the rate given to the pre-private sale folk?
Dujardin: I hear the concerns about the people who participated back in February and March when our pre ICO was on ETH. When we made the transition to VET we calculated so the early backers still had the best bonus. The market has been very volatile since then, both VET and ETH has lost some value the last few months. That means that people who participate now can may get a better deal. I hope everyone understands that we cannot control the market or the value of any one token. Our hardcap was 11,000,000 USD, when we changed our tokenomics to VET, our hardcap was changed to 3,700,00 USD, so we are in this together. I know that we will come out of this together as a strong community. We have been working very close and as transparent as possible with our community, and we will continue to be as transparent as possible.
20. Is SHA GDPR complaint and legally sound enough to be used by the legal industry?
Dujardin: Yes, we have our own GDPR specialist in our team and a legal team that comprises of six professionals. They are working around the clock to make Safe Haven as compliant as possible. This is extremely necessary as we intend to work with other legal institutions.
21. In your posts and website there is talk of custody solutions. What use cases will these solutions be fit for? Long-term cold storage, multi-sig wallets, or also frequent-trading-level applications like trading firms and exchanges?
Dujardin: We are building improved multisig wallets, long term cold storage, solutions for leverage trading, making wallets inheritable in several exchanges, asset management solutions for traditional investment and accountancy firms. Our possibilities and solutions are endless, and can benefit any financial, insurance or asset management company in the world.
22. What is the extent of the relationship, if any between Safe Haven and KPMG?
I noticed you personally follow KPMG on Twitter and the Safe Haven official Twitter account follows KPMG, KPMG U.S., and KPMG Cyprus.
Dujardin: Correct. KPMG could be a perfect partner for Safe Haven.
23. The value of a crypto-asset highly depends on the network effect it manages to achieve. What are your plans to achieve a strong network effect of users, developers and organizations?
Dujardin: We have opened up our protocols for the B2B markets, that means that Goldman Sachs, Deloitte or KPMG can ask us to build solutions for them or build their own solutions on top of our protocol. We will endorse and support them. That way we bring them and their clients into our ecosystem.
24. Does Safe Haven offer solutions for crypto outside the VechainThor blockchain?
Dujardin: Currently, our own solution that will support other blockchains is our hardware ledger. We are building on top of the VeChainThor network and we will focus on that. Our TAN will be integrated on Thor over time, as well.
25. Sunny mentioned country level partnerships for the whole VeChain eco-system, does this include SHA?
Dujardin: Yes, we have spoken with companies and continue to do so. These companies are very well known in the space. At this time I can not divulge any information about which companies or countries due to NDA’s that are signed. The announcements will come when the time is right. The future looks bright.
26. What are the use cases that governments could be interested in for using Safe Haven?
How can a government be involved in SHA in terms of buying and storing the tokens?
Dujardin: The most interesting solutions for governments, at this time, is the Digital Vault and Inheritance Platform integrated within the Business Plans. They are looking for digital profiles for their citizens and a safe way to store corporate papers. Our Vault and BCP is ideal for such. We allocate SHA tokens for business partners and equity buyers, they will support SHA by locking away their tokens.
27. I think the crypto inheritance is a great idea, but will Safe Haven be forced to comply with government regulation such as death/inheritance taxes?
Dujardin: Safe Haven strives to be compliant with all regulations and taxes in each country we are active. We want to achieve mass adoption and we can only do that by working side-by-side with governments and respect their laws. Currently, we are talking to a few [governments] and we have more lined up in the near future. We decided to involve legal entities such as, lawyers and notaries within our solutions as they know the laws within their respective countries. There is no better collaboration than to combine trust of legal entities with the safety of blockchain.
28. In the repositioning announcement, SHA mentions that the patented SD Protocol can be adopted globally by service providers ranging from SMEs to global enterprises. Can you please elaborate on this? Are you in talks with any of VeChain’s enterprise partners — are you able to discuss anything further?
Dujardin: Every financial, asset management, inheritance, insurance, community, exchange can build solutions on top of our protocol. We will endorse and support those companies with financial and technical help. Yes, we are talking to some high level companies right now, NDA’s are in place so the details cannot be discussed now.
We would like to thank the members of our community for submitting thoughtful and appropriate questions. It was a pleasure to take the time to review and answer your efforts. As always, your support is overwhelmingly positive and a driving factor for the entire Safe Haven team. Please stay tuned for more exciting updates.
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