The current revision (rev 0.03) of the Crypti Foundation Charter is finally ready for review.
This is a complete re-write from some of the previous versions so please read through the Charter and give us your thoughts either here or on the blog.
You can read it here:
http://blog.crypti.me/the-crypti-foundation-rev-0-03/We have also updated the OP to reflect the new revision.
I am really looking forward to hearing your thoughts so please take a minute and give it a look!
You have not spelled out the relationship of the Foundation to XCR. You have a short statement of the goal of making XCR a global cyber currency, but it is incomplete. It sounds like the Foundation is just an advisory panel. What about Incorporation? You have a Board of Directors similar to a Corporation.
You may consider making the Foundation a Non-revokable Trust instead. It is similar to a Corporation, but without stock; just trustees.
Needed is a statement on the ownership BY THE FOUNDATION (not an individual) of the coin, software, and domain names.
Where does the decision on future changes in XCR reside? Devs or Foundation?
Thank you for your comments.
The Foundation will own all domain names and the software (although the software will be open source eventually).
As to ownership of the coin, I don't think that can really be established once the coin is launched. At that point no one can truly own the coin.
As far as future changes go, there are no "devs" once the main net is launched and all core members of the current development team will be making decisions as members of the Board of the Foundation. The Foundation will make all decisions for the future of XCR.
The Foundation is not simply an advisory panel. The Board could be considered an advisory panel, but the Foundation will be hiring developers, marketers, and others to help develop, market, and build the Crypti network, partnerships, and future. Our goal is to have the Crypti Foundation work strictly on promoting the XCR network, building new features into the coin, and creating partnerships with service and product based companies on top of the Crypti network.
This is partially the reason we are billing it as a foundation and not incorporating at this time. We considered incorporation but determined that it didn't quite foster the community based aspects we wanted to foster. We want to focus on the core functionality and capabilities of the network, marketing those functions, and bringing partners to create the "killer apps" for the Crypti network. That's not to say that some key features that will run on the custom block chains won't be developed by us, as we have several in the pipeline. The difference is that they aren't being built to profit but are rather things that we consider core features of what Crypti will eventually be.
These are just my thoughts and responses as always and I will let others chime in as well. Please keep the conversation going. This is why we wanted to post the Charter for the community to review and consider.
Edit to add: I honestly hadn't even considered an irrevocable trust, so that is something we could look into. Thanks!