Project & Token Sale Launch Update

Dear Safein Community,

The last several months have been an amazing journey for the Safein team. Our founders have met with, literally, hundreds of industry experts, investors and innovators in a matter of months, and we have now expanded our core team to 10 people, all of whom share the vision of making digital identity management simple.

Growing more and more accustomed to the blockchain industry allowed us once again realize the demand for the solution we are developing. At this stage, our key focus is to start generating revenue to prove our business model and expand our user base. Naturally, prioritizing business partnerships led us realize that the best time to conduct our token sale is exactly after we will prove to our potential investors the utility of our solutions — not just on paper, but with real-world use cases. Therefore, we have made it our target to achieve this, and to launch the ICO in 2018 Q3.

We want to address and clearly express the factors we have considered before making this decision, because we are very certain that the focusing on the product now will ultimately benefit our investors in the future. Additionally, we understand that the delay may be frustrating to our users who want to start investing in Safein. As such, all users who are whitelisted by the 31st of May will receive a 5% bonus in SFN tokens, regardless of the amount invested.

First and foremost, the commitment to start offering our services to businesses as soon as possible stems from our confidence in the Safein platform. Although our product and development team continues to work hard on further improving our platform and polishing off the API for business use, we are well past the MVP stage. Therefore, we see it as only natural to move in the direction of growth. The agreements we have with several ICOs for the provision of KYC services showcase that we have both the drive and the capacity to pursue this, even without having completed the token sale. Penetrating this highly competitive industry with our cost-efficient KYC solution will give us not only the revenue and the initial user base, but also huge exposure and visibility prior to the token sale, which will be crucial for us to succeed in the online identity market.

Furthermore, our meetings with investment funds and seasoned industry advisors, and ultimately taking down the ICO battle at iCoinSummit, redoubled our belief that we can scale the Safein solution to a global level. Now, having been selected to take part in the Singapore’s highly competitive Lattice80 technology startup accelerator gives us utmost certainty to state that, with sufficient resources, we will be able to build an identity management platform to cater for users and businesses across virtually any regulated industry in any market worldwide, while staying in line with compliance requirements of the highest standard. As such, our aim is not just to raise funds for the sake of celebrating having reached the soft cap, but rather to attain a full sell-out — and have those necessary resources to grow big at a pace unseen in the blockchain industry.

Third and final, operating in the space of blockchain and cryptocurrencies exposes us to the uncertain regulatory environment, and we deem it necessary to circumvent any potential legal issues well in advance. With the new Anti-Money Laundering Directive coming into force in the EU, our home market, and with our ambitions to eventually service strictly regulated financial industries, we must put procedures in place that will demonstrate our deep commitment to money laundering prevention and legal compliance in general. As a KYC services provider, we wish to be pioneers in the blockchain space and, at the same time, safeguard our supporters, potential investors, and the businesses that wish to use our solution, from these uncertainties, before we carry out our token sale.

Looking at the bigger picture, our founders and team believe that all of the above reasons the decision to postpone Safein ICO launch just a little longer is the right way to go. We will expand upon our reasons during a live AMA session on Thursday, 16:00 GMT+3:00 on Facebook. Send any questions to info@safein.com or to our Telegram group (https://t.me/safeincom).

We are extremely excited about the things that will unfold in the very near future, and we may only ask for your continued support along the way.

With kindest regards,

Your Safein Team