From the Founder – Edmund
SelfKey, KEY Token and Financial Services Marketplace
Hi,
I want to thank you again for your interest in SelfKey and for filling our ambassador form, we already have tens of ambassadors and the Selfkey Foundation even hired several people for their internal team.
In my last email I briefly explained what SelfKey is all about. Today I want to talk about how SelfKey works and what you will able to do with the SelfKey native token, KEY.
SelfKey is a blockchain based end-to-end digital identity system with an integrated financial services marketplace.
The SelfKey Identity Wallet will allow you to access securely to your identity attributes and documents, such as passports, stored and encrypted on your personal device and not in a centralized database or in the blockchain.
Through a payment of KEY, you may request to certifiers, such as a notary, to certify your identity attributes and documents.
Then, you will be able to securely share these attested identity attributes and documents with relying parties listed in the SelfKey marketplace, in order to access to their products and services.
These products and services will be priced in KEY tokens, either wholly or partially.
In the marketplace you will be able to apply for bank accounts, health insurance, incorporate a company, or even buy gold, or apply for citizenship/residency by investment, among other 250+ products/services. SelfKey will allow for a quick KYC onboarding process and to save time to complete applications that are currently tedious.
At our demo, alpha.selfkey.org, you can get an idea how the wallet and marketplace will look like.
Thanks to the relationships established through Flag Theory during the last 8 years, the SelfKey foundation has already agreed with immigration by investment agents, corporate services providers, registered agents, fintech companies, banks, notaries, attorneys and even governments, amongst others, to provide these services using the SelfKey network and to accept payments in KEY.
KEY tokens will be distributed during our Token Sale at token.selfkey.org, which will be held next month.
Furthermore, SelfKey is already powering Token Sales’ KYC process. We have successfully handled Airswap Token Sale KYC whitelist process and we are going to do so with other 2 upcoming token sales this month.
We have enabled a Telegram group to provide more details, answer questions and have SelfKey related conversations. We will be more than happy if you join, participate and give us your feedback.
If you wish to be a SelfKey ambassador, we invite you to read our whitepaper and answer the 4 short questions included in this form.
Thank you for your support.
Yours sincerely,
Edmund
P.s. SelfKey is running a private sale now for selected individuals at a 50% bonus. Reply this email if you are interested and would like to contribute a meaningful amount above our minimum threshold.
From Flag Theory
Antigua halves the price of its citizenship program
Last Thursday, Antigua and Barbuda’s Prime Minister Gaston Browne announced that the contribution required for the citizenship by investment program under the National Development Fund (NDF) has been reduced to US$100,000 (Previously was US$200,000).
This reduction is due to the poorly performance of the program this year. According to Gaston Browne, over the last two months, there have only been three applications under the NDF.
The Prime Minister said other countries such as Dominica have been doing extremely well with an NDF option price at US $100,000 – so Antigua and Barbuda will now do the same to earn revenue to rebuild Barbuda after the Hurricanes.
The remaining citizenship by investment options will remain priced at US $400,000 (real estate) and US$1.5m (business investment)
Remember that you can explore this and other second passport options at our beta version of Passports 2.0, as well as compare and apply for real estate developments. To check residency programs that will lead you to citizenship, you can visit Residencies.IO.
If you are interested in acquiring second citizenship or second residency by investment you can apply for a free 30 min private consultation call with our Senior consultants and start your global citizen journey to increase your privacy, freedom and wealth.
Where to set up a Foundation for your ICO
We’ve written previously about how to do a successful token sale from a legal perspective and the potential pitfalls to watch out for. We’ve edited a spreadsheet to score your ICO as to whether it’s a token for use or a security and written an article on corporate structuring for ICOs.
One of the most suitable legal entities for holding an ICO or manage its proceeds is a Foundation, due to its unique characteristics:
- Non-profit organization.
- No owners/shareholders.
- It can be solely established to carry out a purpose and not for the benefit of persons.
- Provides for perpetuity of purpose
There are several things to consider when looking at the right jurisdiction for your foundation, such as (in no particular order):
- Reputability: Political and economic stability, transparency, justice, market and individuals’ freedom.
- Time: Procedures needed to set up the Foundation.
- Banking: Ease to open bank accounts, financial and banking sector stability.
- Taxation: Whether the transfer of assets/donations to the Foundation or income earned is subject to tax or not.
- Securities laws: Whether the securities laws have a clear and delimited definition of security, in which your tokens do not fall into
- Blockchain regulation: Whether there is a Regulatory Sandbox with enough flexibility for your blockchain project to be regulated.
- Foundations law: Legal aspects to consider such as initial patrimony required, if it can be solely established for a purpose rather than for the benefit of a person/s, foundation structure flexibility, among others.
We have written an article with a comparative analysis of the four most common jurisdictions to establish a foundation/company limited by guarantee for ICO purposes: Switzerland, Singapore, Panama and Mauritius.
UK, Hong Kong, Isle of Man, Gibraltar, Cayman, Liechtenstein or Labuan, are other jurisdictions to consider. At Incorporations.IO 2.0., which will be ready soon, you will be able to compare these and many other options.
If you are interested in conducting an ICO and want to select a favorable jurisdiction, we will help you to compare the most suitable corporate structure based on some of the unique complexities and number of options available to your specific situation.
Regulatory bodies are closely monitoring ICOs, and care must be taken to not break any of the existing laws. At Flag Theory, we provide ICO consulting including tax and legal structuring to remain compliant.
We can manage the implementation of the entire structure for you, so you have a complete turn-key solution rather than a bunch of pieces to try and put together on your own.
We invite you to apply for a free 30-minute consultation call to understand your situation and goals, and explore suitable options according to your specific circumstances.