Preparing to launch our offerings
As we prepare for launch we are looking into technologies that will help us administer participation in our projects and distribute payments. Because of that, we are pleased to announce we will be using CoinPrism to issue our very own colored coins.
What is a colored coin?
Colored coins use small amounts of Bitcoin (dust) to reflect ownership of an asset. This allows the advantages and transparency of the blockchain to be used to record things like shareholding, transfers and in our case Promissory Notes (or, in other words, Bond holdings).
What to expect?
We hope colored coins will help us distribute the ownership interest of our managed services users so that we can easily issue payments as well as administer the stake/ownership of each individual. Keep in mind all colored coins (participation / ownership / stake) are personal and nontransferable. To comply with international and local law you are expressively forbidden to transfer your coins to any one else. You will forfeit your rights and participation / ownership / stake and all present and future payouts if you violate this.
When are you issuing payments?
Payments from the profits collected will be distributed as deemed appropriate by the asset administrator. We will make a reasonable effort to issue payments within the first 5 days of the month for convenience. This might not be the case with all of our managed services. Extraordinary payments might also occur for a variety of reasons. For example: If the administrator is going to be without Internet access he/she might issue a payment ahead of time (which won’t necessary be the same as if had been made on the expected date. It could be a partial payment, etc.) Or say new participants are joining a mining pool. Existing participants will receive a payment just before the addition of the new participants to more accurately distribute the payments appropriately.
As always, if you have any questions please feel free to reach out to us!