August Update: Questions You Asked
It has been two years since ICO, and it’s the right time to look back at what has been done so far. For a while, the monthly news was mainly focused on day-to-day achievements. We were reporting about our team evolution, product development, and licensing activities. This time, we have decided to take a macro view and explain the big picture. In this update, we’ll talk about our progress and what we resigned from along with what we decided to do differently.
We’re doing our best to address the issues as comprehensively as possible. However, some topics are sensitive from a competitive standpoint and maybe aren’t as thoroughly addressed as we would like.
Company structure, activities, business planning
In a nutshell, Polybius consists of two branches
Tokens were issued by Polybius Foundation, which is at the top of the group. That hasn’t changed since the ICO times. Polybius Foundation has two branches — Fintech and Ventures.
The Fintech branch focuses on developing the OSOM service. It consists of legal entities needed to operate and comply with the regulation: Polybius Tech OÜ, Digital Ledger OÜ (entity holding the crypto wallet and exchange licenses), and Polybius Fintech SPRL (entity in the licensing process with the National Bank of Belgium).
The Ventures branch was set up to make venture investments in line with the promises of the ICO. Although this is still the plan, the team is currently focusing 110% on the fintech part. Once fintech is off the ground, we will ramp up ventures. At that point, the branch will look to invest in direct equity of companies, ICOs, or any other way. Meanwhile, the venture branch is more passive.
