Create Xtrabytes non Profit organisation to be a legal entity

Discussion in 'General Discussion' started by Aspergillus, Dec 28, 2017.

  1. Aspergillus

    Aspergillus New Member

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    Dear Team,

    if i understod correct, you plan to patent a part of the software. And you want to make the patent freely available for the XBY community. And you want to bind the use to the defined purpose of use in XBY cryptocurrency. Is that correct so far?

    So if that is correct, the XBY Community needs to be defined exacly and probably needs to be a legal entity. I dont know about other countries but here in switzerland we have a very neat solution fur such a scenario. "Foundations"
    A Foundation according to swiss law is a legal entity like a person or a company. A Foundation has a defined purpose that it is bound to.
    So in case of a cryptocoin the purpose could be "Development, mainenance and operating of the cryptocurrency Xtrabytes"
    Such a Foundation as afully accepted legal entity can have property, bank accounts, can own pattents and so on. Also a foundation can sign contracts with companies an stuff like that. Its a door opener in many ways.
    its a very nice way to empower a community to be a legal entity with rights and ownerships.

    Examples of such foundations is the "Etherium Foundation", but also the World Football Association (FIFA)

    Wouldn't that be neat? Make Xtrabytes a Swiss non commercial foundation located in Zug, Switzerland - cryptovalley?
     
    Last edited: Dec 28, 2017
  2. Aspergillus

    Aspergillus New Member

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    One day XTRABYTES will probably want to go into cooperations with companies.
    And thats the point where XTRABYTES needs to offer official contact Persons, and would have an advantage of beeing a legal entity and being able to sign contracts. This is a very essential point if we want to grow into spheres of Ethereum(Foundation) or Ripple(Company).
    Large companies want to know who they are dealing with.

    Does the team have any plans towards this direction?
     

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