Topic: [ANN] RightMesh (RMESH) A Decentralized Mobile Mesh Network - page 5. (Read 17336 times)

**RE: RightMesh TGE Delayed - Crowd Contribution Temporarily Delayed**

At RightMesh AG we pride ourselves on doing things “right”.

In the spirit of doings things “right” and in reaction to a late request for consultation with the British Columbia Securities Commission (the BCSC) in Canada, we have decided, out of an abundance of caution, to engage with the BCSC and to delay the public crowd contribution of our Token Generating Event (the TGE) scheduled for March  27th, 2018. We anticipate a delay of 4 to 6 weeks while RightMesh AG consults with the BCSC.

The sections below address questions and concerns we expect you may have with respect to RightMesh AG’s decision to delay the TGE. We commit to being transparent and open with you, so if you have further questions, please join the conversation on our Telegram Channel (https://t.me/rightmesh_official), where the team will be online as much as possible over the next 24 hours to answer questions directly. You are our community, and you are important to us

Why is the Crowd Contribution being delayed?

On Friday, March 23, 2018, we were contacted by the BCSC, a provincial securities regulator in Canada. According to the BCSC, they had some concerns that, although RightMesh AG is based in Zug, Switzerland, the TGE might be within the BCSC’s jurisdiction.

When the BCSC brought this to our attention, we reviewed our website and all other publicly-available materials in order to proactively work with the BCSC to ensure it is clear that RightMesh AG is a Swiss company with headquarters in Zug, Switzerland, that RightMesh AG’s board of directors is primarily made up of individuals resident outside of Canada, that RightMesh AG is operated and managed outside of Canada, and that RightMesh AG is subject to Swiss regulation.

The decision to delay is painful for RightMesh AG, not only because the board of directors is confident that RightMesh AG is properly structured and has strictly adhered to all relevant regulations, but because RightMesh AG has taken great pains to do so in the spirit of the company’s principle to do right - by all parties.

We have decided to delay the RightMesh TGE until we have finalized the consultation process with the BCSC and the RightMesh AG board of directors determines that the issues have been satisfactorily resolved.

Confusion about the structure and location of RightMesh AG and its mind and management

Initially, “RightMesh” was an internal project of Left of the Dot Media Inc. (Left), a British Columbia-based multinational media and technology company with holdings in mobile and Internet-based businesses. For over 3 years, Left incubated and funded the project.

In the summer of 2017, after initial conversations with the BCSC and many advisors, a decision was made to establish a legal entity within Switzerland as there was clear guidance from Swiss regulators with respect to the token generating and crowd contribution process. After nearly six months of effort in conjunction with leading legal professionals in Switzerland, Canada and the USA, in early 2018, RightMesh AG was established to take over the “RightMesh” project. The board of directors of RightMesh AG consists of five people, the majority of whom reside in Switzerland or outside of Canada, and the TGE is being conducted pursuant to the direction of RightMesh AG’s board of directors in accordance with Swiss laws. The board of directors of RightMesh AG manages the day to day operations of RightMesh AG and instructs sub-contractors in multiple jurisdictions including Switzerland, Canada, Bangladesh, Singapore and the United States to carry out specific operational aspects of the “RightMesh” project. This includes sub-contracting to Left.

Some language on the RightMesh AG website may have incorrectly portrayed the “RightMesh” project as still being closely linked with Left. The board of directors of RightMesh AG  only recently discovered this error which resulted from the inadvertent duplication of text from earlier website copy while the “RightMesh” project was an internal project of Left. This language is, of course, an error and not consistent with the rest of the site or the language used in relevant agreements and other documentation. The board of directors of RightMesh AG believes this error may have contributed to the concerns raised by BCSC during RightMesh AG’s  recent conversations with the BCSC. BCSC have stated their intention to provide RightMesh AG with a formal letter outlining their concerns. However, RightMesh AG has not yet received this letter (or any formal explanation). In the interim, the board of directors of RightMesh AG believes it is the right thing to do to delay the TGE until RightMesh AG has more clarity from the BCSC and has completed its consultation process with the BCSC.

Why was RightMesh AG established?

RightMesh AG was established in Switzerland for the very reason that regulations regarding Token Generating Events in Switzerland are stringent and more definitive than other jurisdictions. Even though the exhaustive KYC and AML requirements don’t necessarily make it ‘easy’ to contribute, RightMesh AG has insisted on doing things right and has followed the Swiss regulations faultlessly. The entire contribution process has been undertaken in close cooperation with our Swiss legal representatives. RightMesh AG is following the FINMA guidelines published on February 16, 2018, and the RMESH token is qualified as “payment token” based on the FINMA guidelines. In addition, the board of directors of RightMesh AG has taken steps to ensure that the respective Swiss AML/KYC regulations will be fulfilled. Furthermore, all contributions to the “RightMesh” project have required individuals or entities to sign by hand a Framework Agreement with Bitcoin Suisse AG (Bitcoin Suisse), indicating that the contributions being made are being done through Bitcoin Suisse and with RightMesh AG, a Swiss company.

Is there any concern about the classification of RMESH as a security token?

As per Swiss regulations pertaining to RightMesh AG, the board of directors of RightMesh AG have taken appropriate legal advice and understand that the RMESH is a “payment token”, as defined by FINMA. The token’s use within the network is to pay for goods and services, namely data and device resources, within the “RightMesh” ecosystem.

Is the delay because of the lower ETH price?

No. RightMesh AG has had sufficient demand from the community—at the current ETH prices—to allocate the full amount of remaining tokens, and anticipated closing this phase after the second day of the crowd contribution and TGE period (when individual caps would have been lifted). To provide further clarification, RightMesh AG limited the amount raised in the TGE to its needs and what will be required to launch a robust platform. The board of directors of RightMesh AG  is confident that the funds that RightMesh AG is anticipated to receive via the TGE will be sufficient for these purposes.

Is the delay because your platform isn’t ready?

No. Platform development is on schedule as indicated on our product roadmap and will continue as planned regardless of the crowd contribution and TGE delay. RightMesh AG is completing the development and stability goals for the beta release of the platform in Q4 2018, and once this milestone has been achieved, the RMESH token will be functional as payment on the mainnet in a “RightMesh” network.The RightMesh SDK was released in alpha to limited developers in September 2017 and has been used by developers at assorted hackathons since.


How long will the Crowd Contribution and TGE be delayed?

Our expectation, based on a conservative estimate, is a delay of approximately 4-6 weeks. As mentioned above, RightMesh AG is waiting for the letter of explanation promised by the BCSC. Without this letter, it is difficult to respond to whatever concerns they may have. The board of directors of RightMesh AG will work  around the clock to ensure all parties are satisfied that RightMesh AG has done things right.

The board of directors of RightMesh AG understands the community will be anxious for an exact date, and RightMesh AG will announce that immediately when it has been confirmed. The official announcement will be made on the RightMesh Telegram channel (https://t.me/rightmesh_official) and on the RightMesh AG website  (https://www.RightMesh.io).

Is the current Whitelist closed, or will this delay allow more people to participate?

The current Whitelist has been closed. However, RightMesh AG will re-open a new Whitelist and invite in new contributors once RightMesh AG has been able to confirm a date for the TGE. Existing whitelisted community members will not have to submit any new paperwork and their signed Framework Agreements will be valid after this delay. RightMesh AG will communicate broadly when the Whitelist is re-opened for new contributors.

A note of caution

Scammers are rife in world of Token Generating Events, and the postponement of our Crowd Contribution period and TGE may draw their attention. RightMesh AG wants you to be safe, so please be vigilant and be aware. The board of directors of RightMesh AG anticipates the possibility of attempts to convince RightMesh AG’s community there are other ways of participating in the Crowd Contribution period or even to convince you that “Canadians can now participate”.

To reiterate and confirm:

All restrictions of Canadian residents and Americans contributing to the TGE remain in full force and in effect.
There remains one single procedure for participating in the TGE and that is through Bitcoin Suisse’s client portal.
RightMesh AG will NEVER ask for contributions directly or through any channel outside of Bitcoin Suisse.

In conclusion:

The disappointment you may be feeling is matched by my own emotions and those of the entire RightMesh AG board of directors and team, RightMesh AG’s advisors, its partners and all its contractors. RightMesh AG has always strived to do the right things, and will continue to do so.

As entrepreneurs, we work to make dreams a reality. The “RightMesh” project was a dream born more than four years ago, and we remain passionate about and committed to bringing the project to fruition. The TGE process will have taken a full year to complete by the time it is all said and done. However, when it is complete RightMesh AG will know it has done things right for its community -- then RightMesh AG will have the next decade in front of us to change the world.


Thank you for your patience, support and understanding.
 
 
John Lyotier
Director, RightMesh AG


On behalf of the board of directors of RightMesh AG
 

the project is very interesting, but i couldn't understand the usefulness of the token itself.hiope will get some specific info about it

The RightMesh network relies on the existing hardware devices to create, and the existing mobile applications need only a few lines of code to integrate RightMesh, and the implementation is difficult.

how is this going now?

Good review mentioned on https://www.coingecko.com/en/ico/rightmesh and by diddy carter

RightMesh is the project OK? Now ICO is the majority of the broken hair, dare not participate. This should be a bit of a profit at the bitcoin Swiss station.

https://medium.com/rightmesh/supporters-of-the-rightmesh-revolution-7a91df49ec30



Decentralized, secure communications. Unlimited connectivity, free of charge. Interactivity without intercession or interruption. Empowering, enriching, and integrating communities. Bridging the Digital Divide. Blockchain for social good.

These are some reasons early contributors to the RightMesh Token Generating Event have chosen to support our world-changing project. These contributors are values-aligned with RightMesh. They believe in our ability to execute our mission. They want to be part of the connectivity revolution which combines mobile mesh networks with blockchain and a cryptocurrency layer to provide decentralized communication for the world — even for those regions which lack connectivity today.

We want to take this opportunity to say “thank you” to our early contributors. Thank you for believing in us; thank you for championing for us; thank you for helping us to connect the next billion users and lift 100 million people out of poverty. Your support helps change the promise of true peer-to-peer decentralized connectivity into a reality.

In their own words, some of our early contributors share their reasons for joining RightMesh in changing the way the world connects.

as far as i know RightMesh  project didn't have bounty ,so give up you mind there will be one you can earn .

It has been another whirlwind of a week at RightMesh as the team prepares for the Crowd Contribution period of our TGE (March 27th, 13:00 CET)! Smart contracts were tested, library advances were made, the technical white paper was updated, and at 13:00 CET today we officially opened our Whitelist to the community!

https://medium.com/rightmesh/rightmesh-weekly-update-march-2-2018-2f331078841d

RightMesh how can there be no bounty for the project sold at the bitcoin Swiss station? If anyone found a message to tell me, thank you very much.

looks so exciting project, definitely will keep an eye on develoments.hope to success

RightMesh is the nineteenth project to invest in the Bitcoinsuisse platform, and the pre sale of KYC/AML has been completed on the platform and is about to enter the public financing stage.

Did you guys make any decision on bounty campaign yet? Thanks

Origin of Funds Process for the RightMesh Crowd Contribution Round



Thank you for your interest in the upcoming RightMesh Crowd Contribution Round of Token Generating Event (TGE) on March 27th at 13:00 CET. This article explains the final documentation request in the Bitcoin Suisse AML registration process, Origins of Funds, and provides answers to common questions we have received from our community regarding it.

https://medium.com/rightmesh/origin-of-funds-process-for-the-rightmesh-crowd-contribution-round-d220534fa5a4

Team Thursday with Our New Lead Networking scientist

Dr. Lucien Loiseau holds a Ph.D. in the field of wireless mesh networks during which he worked on optimizing the MAC layer using opportunistic retransmission to improve the efficiency of the forwarding process. He is currently involved in designing delay tolerant networks and routing protocols to spread data across disconnected communities. https://www.youtube.com/watch?time_continue=4&v=lAUn4Jx9_vY

It would help to check the points raised here by Crypto Rated> https://cryptorated.com/ico-rating/rightmesh/

EPISODE 32- RIGHTMESH ON A MISSION TO CONNECT WITH UNCONNECTED

John is one of the co-founders of Left and CEO of RightMesh. He is a key contributor to the global strategy, vision, and technology roadmap. John is an entrepreneur and a successful marketer with more than 20 years of experience in promoting, launching, designing, and jumpstarting new businesses and products through innovative marketing concepts. Under his leadership, Left has gained a national reputation as being a “Best Workplace” award winner while being the first back-to-back recipient of the BC Tech Association’s Tech Impact Award for Community Engagement, recognizing the best company in BC for balancing “Work, Life, and Play”. http://cryptoknights.io/episode-32-rightmesh-on-a-mission-to-connect-with-unconnected/?utm_content=buffer0dbc0&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Tech Tuesday: The RightMesh Simulator

We wanted to share with you this simple simulator that takes into account Bluetooth, Wi-Fi and Wi-Fi Direct devices and constructs meshes based on whether the devices are in range or not.

With this tool, we can compute the average size of the mesh, the average number of hotspots a Wi-Fi client is covered by, how many devices remain unconnected, etc. Pretty cool isn’t?



Note: the computation for largest mesh is not optimized, so if you use too dense of a mesh with too high of a hotspot percentage it can take quite a lot of time to compute. Have fun! https://medium.com/rightmesh/tech-tuesday-the-rightmesh-simulator-1a2e628f9f0f

Looks like a good project. However, tokens allocated to the team and company seems to be too high.

30% is for the RightMesh team
20% is for Left (parent company)
10% for advisors and “TGE costs”

Investors might shy away from the fact that market value is controlled by the company.