As some may have noticed, we decided to delay our ICO further. This followed our latest meeting with the British Columbia Securities Commission. It sounds like we've come about far enough to get a securities exemption at this point, but we'd like to try to push for full utility token status because of how legally groundbreaking that would be. As such, we're still editing our whitepaper and building the TryEnglish app; the more complete the project is, the less speculative the ICO appears.
On the whitepaper front, we've almost finished all of the major diagrams. Below you can see the progress we've made figuring out how to integrate DCore. It will be a purely practical use of dual blockchains: ESL Coin can provide services more cheaply on some chains than on others. In this case, the service in question is content distribution.
Instead of a traditional non-profit or corporation, ESL Coin is legally registered as a cooperative. These decentralized legal structures better mimic the logic of blockchain-based organizations, and offer more regulatory protection for utility tokens. Below you can see how it will work.
The conferences have also been going well. Below you can see our booth at TESOL 2018, the world's largest ESL conference (we were sponsors). We also spread the word at CoinFest and are about to tour Europe, with meetings and speaking engagements in Essen, Arnhem, Amsterdam and Manchester.
Stay tuned for more exciting updates! The pace has been picking up as our team has been expanding.
