OK, thx.
So for example:
I live in EU.
I invested in some new startup through crowdfunding certain amount of DIGI.
Startup vent fine...business plan vent fine ...it is a success.
After about year I went to your website to go with process of clearing and demand shares in paper because they went from 1 GBP to 100 GBP.
What if:
Scenario 1:
Your web site is down for weeks (solar flairs, alien attack, god didn't save the Queen, etc...)
Scenario 2:
You transfer the capitalDIGI rights on shares to some obscure company to Cayman Islands (and what is stopping you?)
I have more but it will be nice to have Your view on first two Scenarios
Yes, the most important thing is such thread what is adequate capital in our company, what is a structure of our company, etc to avoid this two scenarios.
Even a Kingdom falls our capital must be ready to payout customers the valid amount of shares and money.
Nobody from our system should have possibility to transfer assets abroad.
So the solution is on three levels:
I. Capital
The market which we generate can't be more than our frozen traditional reserve ready to serve any withdrawal.
At the beginning we can't develop big market, when we have about GBP 250k of reserve.
Currently you can see that practically we are in the trailer phase when value of crowdtraded companies is symbolic:
- to test the idea and all technical aspects of trading
- to wait for any response from the market about our solution
- to wait for any response from system of banks and capital market in the UK
- due this fact that we don't have in this trailer a full-engaged crowdtraded company (we are using now a symbolic amount of equity is crowdtraded as a proof-of-concept to present waht is it)
But we are talking to our several colleagues from the traditional capital market to make a relevant reserve here which enables 'normal' scale of crowdtrading. Naturally if it happens then rate BTC/DIGI will rapidly grow up (because we need is a token for the system)
After having different guys from traditional capital market with good CV and after building the reserve then it will be practically impossible to have these two scenarios.
Today there is no risk, because our reserve is much bigger than market we have created.
II. Foundation
There are several old economist who are interested in this trial as 'an economic experiment'. We are talking to them about their participation in DIGI foundation to have supervision of the decisions and all job in the capitalDIGI exchange. We plan that no new crowdtrading is done (I don't write about these current symbolic facts for testing reaction of the market) until the foundation accepts it regarding our reserve capital is adequate.
III. Technical
The draglet's engine is well designed about to froze assets, cold wallet and multi-sig. According this above organisational structure (including foundation) we will be ready to implement a secure procedures.
It is not only to prevent our customers (what is our mission), but it prevents our self - to build a stable and reliable business.