How do you prevent unfair competition in the crypto world?
Hi,
We’d like you to take a moment to watch our explainer video here
https://youtu.be/QRcTGdVVHs0 1. What are the Purposes of WCCStandards.com ?
WCCStandards.com is established in order to;
1. Provide equal simultaneous access to basic information - of CryptoCurrencies, Tokens, Icos, Markets and Service Providers -for everyone in the cryptocurrency world. By means of their ownership status, progression through timeline, transparency and technology policies.
2. To prevent unfair competition in the cryptocurrency world,
3. To be an intermediary between Licensees and Investors in case of Customer or Investor complaints.
4. Determining the commercial ethics of the cryptocurrency eco-system by taking the reviews of the whole cryptocurrency system into consideration.
5. Organizing the best of cryptocurrency awards for the cryptocurrency world. To honor the -ownership and timeline- transparent projects with the votes of the Crypto eco-system.
6. Fighting against some social media influencers, - and their speculating and manipulating actions - who call the cryptocurrency world a bubble; Taking legal actions through complaints, in line with the unique, independent and free principles of the cryptocurrency world.
7. Delivering the Insurance Policy Coins Project.
Distribution of the protection coins to small investors to mitigate their losses in cases of Ico frauds or market trading frauds. The coin that will be created or selected for this goal (small investor protection coins) will be determined by WCCStandards.com until October 31st 2020, based on the opinions of investors and licensees through the platform, and the upper limit of small investor protection coins to be distributed to losing small investors will be determined by the work to be carried in this period and will be announced.
Following the announcement to be made by WCCStandards.com until October 31st 2020, the small investor protection coins will be valid, and will not cover incidents before the announcement. Small investor protection coins will only cover the investments of small investors associated with WCCStandards.com Licensees and will not cover losses due to CCs that are not licensed by WCCStandards.com. The upper limits and percentages of losses to be covered will be publicly announced.
2. What services will the WCCS provide in order to achieve its 7 main purposes specified above, and what functions will the platform carry out?
2.1. Issuing WCCS Licenses to Crypto Exchanges (Markets), Cryptocurrencies, ICOs and the Service Providers of the CC world (each one will be referred to as the "licensee"), "decentralized" cryptocurrencies and service providers are voluntarily licensed3 by the WCCStandards.com’s independent legal group under the "direct administration of rights not privately owned" policy. If there are voluntarily established foundations or associations or voluntary platforms to monitor the rights of decentralized CCs/Tokens or to solve their problems, an offer is extended to these organizations before the decision of the WCCS’s independent legal group. If this voluntary foundations or platforms don't apply for licenses in a reasonable period of time, the WCCS.COM independent legal group issues voluntary licenses 4to decentralized cryptocurrencies and service providers under the "direct administration of rights not privately owned." In case the subject group does not wish to obtain the license after the license has been granted, the license will be able to be transferred to the subject group with the decision of the independent legal group.
2.2. WCCStandards.com platform offering the licenses described below individually to the value of the entire CC world;
Cryptocurrency Token and Coin License for “Cryptocurrency tokens and coins”
Cryptocurrency Market License for “Cryptocurrency markets”
Cryptocurrency ICO License for “Cryptocurrency ICO’s”
Cryptocurrency SP License for “Cryptocurrency service providers”
2.3. According to the License Agreement that the Licensees will accept online; the form containing the basic (important and indispensable) information prepared by WCSS is disclosed on the "WCCStandards.com Platform" each month, based on the date and time counter. Every month, the standard important and basic information in the CC world is disclosed to the public, and everyone accesses the license information in an equal, transparent manner. This protects the right of equal and simultaneous access to information. The monthly disclosures of "decentralized" licensees are announced by the WCCStandards.com’s independent editorial team. If, as described in Article 2.1, there are foundations or associations or voluntary platforms established voluntarily with the purpose of protecting the rights or resolving the problems of decentralized CCs, and if they wish to obtain a license, then the license shall be transferred in the manner described in Clause 2.1, and the basic form in the platform is directly filled by the subject voluntary foundation or organization.
2.4. Almost none of the Cryptocurrencies, Markets, Service Providers and ICOs in the crypto world (henceforth collectively referred to as CC) are sharing the basic and necessary information ever or on time; because they are not subject to a direct legislation. WCCStandards.com (WCCS) grants an online license to CCs for disclosing the basic and necessary information on monthly basis on the WCCStandards.com platform. According to the License Agreement, the Licensee CCs mandatorily disclose and upload the Monthly Standard Form to the platform -equipped with a date and time counter - on monthly basis. Every individual accesses this information equally on the announced time. Mandatorily according to the license agreement; incase of any sudden and dramatic change in basic and fundamental information provided on timeline, the CC publishes the Emergency Development Form within at most 48 hours and discloses and uploads to the platform equipped with a date and time counter - Finally, CC will have the right to publish and announce important commercial developments by filling out the Commercial Development Announcement Form.
2.5. WCCS suspends or terminates the license that it granted in case the terms of the license agreement have not been fulfilled (especially if the basic information and statements contained in the Monthly Standard Forms are understood to be untrue based on strong suspicion). Untrue statements don't have and must not have any place in the crypto world. CC has the right to appeal the "license suspension or termination ruling" through the method and within the period specified in the WCCS Platform Disciplinary Rules.
Since the monthly statements of decentralized licensees are disclosed by the WCCStandards.com’s independent legal team, if untrue information contained in these explanations is due to the independent legal team, the members of the independent legal team shall be replaced. If the problem is not due to the team but to the decentralized system itself, WCCStandards.com shall suspend or terminate the license of the decentralized licensee. The WCCS’s independent legal team or third persons who have interests affected by the ruling have the right to appeal the license suspension or termination ruling through the method and within the period specified in the WCCS Platform Disciplinary Rules.
2.6. WCCS independent rating editors shall disclose the rating notes related to the information contained in the "Monthly Standard Form" that will be presented by each CC on a monthly basis, latest the end of a 96-hour period.
2.7. Customers or investors can share their requests or complaints concerning the WCCS.COM licensee CC with the licensee CC through the WCSS platform. This will allow directly monitoring whether the provisions of the WCCS.COM license agreement are violated. One of WCCS' main objectives is to ensure that licensees rapidly resolve the customers' or investors' rightful complaints. Complaints about decentralized licensees are subject to a preliminary review by the WCCS.COM independent editorial team. In cases where it is not possible to resolve the complaints and requests, the applicant shall be notified about this issue, but if there is a possibility of resolving the complaint and request, proposals shall be made about the actions to be taken by the applicant. And/or if the decentralized licensee is a platform, and platform administrators are available, the complaints and requests shall be forwarded to the platform administrator.
2.8. WCCS will also monitor the legal actions (including reporting, filing complaints and initiating lawsuits) that are necessitated by the speculative actions of Financial Institutions or Bureaucrats (including persons and institutions) who aim to lower CC prices or destroy the CC world by speculatively denouncing the CC world as "bubble" etc., based on the authority granted by CCs in the license agreement. (Note: This authority will be granted by the CC optionally, any CC that wishes may grant this authority, and the legal actions specified in this section will be carried out on behalf and in the name of the CCs that grant the authorization against the relevant institutions or persons.)
2.9. Beginning from January 2020, WCCS shall annually select the BEST OF CCs in different sectors of the cryptocurrency world with platform members’ votes and shall announce the results within the last quarter of each year. WCCS encourages fair competition.
2.10. WCCS is a free, independent and transparent platform that aims to protect the diversity and richness of the CC world, to allow the CC world to grow more reliably and efficiently.
Please do not hesitate to send any inquiries to
licence@wccstandards.com about Licence application process.
Any suggestion or expectation is welcomed to
suggest@wccstandards.comhttps://wccstandards.com/homeBest
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