[w.40] Closing the week
and starting the weekend
Another week of hard work comes to an end. Enjoy the show!
ICO/STO/ECF
We start by going over this element AGAIN. As you might have read last week, we have been spending a lot of time on good research. We spoke to lawyers, notaries and even the financial authorities to figure it all out. This is preliminary conclusion:
There is a difference between issuing security tokens or doing a security token offering. The former is being done by projects to issue tokens that represent equity in the company but unfortunately these tokens can’t be traded publically. The latter offers an opportunity to issue tokens to the public market but is only being used by companies that already have revenues to split and plenty of funds available to set it all up. Both of these expensive options create huge legal obstacles that take a lot of time (sometimes more than a year).
Initial coin offerings are now almost normal in the crypto industry. Doing an ICO would give AAVIO the funds needed to launch this project and to get it off the ground. However, the token would not resemble equity in the company as it is used as a utility. For us, this road is cheaper and less time consuming compared to all other options.
Equity crowdfunding is another option we considered. It means that everyone can buy equity in this company and we can issue tokens as a proof of equity. All shareholders will be registered at a notary and the equity is locked from trading. This option is cheaper -compared to ST(O)- to realise but disables people to liquify their assets.
Our preference goes out to give out equity via a STO but this is rather hard to achieve at this stage. In order to get the project started without losing too much dime and time on legislation, we return to our initial idea of doing an ICO. When the time is right, we’ll probably move to one of the other options.
Advisors
At AAVIO we only work for the best, with the best. In the military, soldiers in the field form a circle to guard their sector while they inspect their resources and condition. As AAVIO is organised with military precision we form the same circle together with our partners and advisors. Each relation is carefully selected to safeguard a certain business sector. The idenitities of these our advisors will be made public during the launch of our new website. The sectors of our current advisors in short;
Two weeks ago we had a meeting with a serial entrepreneur who built two very succesful businesses, specialised in online marketing (based on big data) that are being used by all the major (airline) companies. He holds a ton of experience within the tech industry and both of his companies are official Facebook partners. He brings a lot of (tech) experience and connections to the project.
Last week we had a meeting with an actual Professor (Prof.) in sustainability from one of the most prestigious business universities in Europe. After some very tough questions from his side, he quickly came with smart ideas to enhance our business model and to expand our sustainable impact (which is very important to us). Exactly one hour later we welcomed our new heavy-weight advisor and left the campus.
This week we had a meeting with an Assistent Professor (PhD+) with a specialisation in Human Factor (the higher step of UX/UI design). She reacted very enthusiastic about AAVIO and already came with some amazing new ways to interact with our users. We are proud to announce that this person is now an official advisor for AAVIO too. She will help us to optimise our application in order to achieve mass adoption. According to her, this project has massive viral potential.
“Human factors & Usability is the scientific discipline concerned with the understanding of interactions among humans and other elements of a system, and the profession that applies theory, principles, data and methods to design and optimise human well-being and overall system performance.”
Another advisor that was added this week holds the sector Law & Regulation. He is a university lecturer in business law, publicist of various books that are being used to teach students law & regulation and he holds lots of experience in the corporate sector. We are very glad to add this advisor to the team.
All advisors truly believe in AAVIO and are not paid (other than a fair compensation for their transport) to advise. We are busy with some other advisors in the mean time and hope to add them to the project soon.
Partnership
Last week and this week we had two successful meetings with companies that can greatly help us to achieve our goals. These partners will be -next to the identities of our advisors- officially announced on our to-be-launched website.
Community
We just want to high-five everyone of you who joined our community. It is amazing how much valuable information is already provided by community members in order to get this project live and how much great conversations have been taken place. We want to grow organically and prefer a small and motivated community. So if you have friends, family or acquaintances that may find this project interesting, please invite them to join our community. We believe that the formula for success is a healthy community, grown from inside out (via other members).
Completely transparent
In addition to our fairness policy, we have decided that all data (salaries, expenses, budgets and accounts) of the company will be made public. We are in contact with some major companies and we notice that “Blockchain” companies still have a bad connotation. By being completely and utterly transparent we hope to overcome that obstacle.
Happy weekend!
It literally feels like the weeks are flying. We are going to open some beers to celebrate the weekend. Via this way we want to wish you a wonderful weekend!
Ciao!
