The Alias Foundation

The Spectrecoin Foundation CIC is a UK registered ‘Community Interest Company‘, a strictly not-for-profit endeavour focused on developing, promoting, and encouraging wider adoption and use of our software, Spectrecoin.

A RANGE OF BENEFITS FOR USERS AND INVESTORS

Subject to UK rules, regulation, and company law, the foundation is responsible for managing the ‘Spectrecoin Development Fund‘ and filing publicly available financial reports. Any funds coming into the foundation are used only for product development and promotion.

As the UK has strict laws and regulations around how companies operate, we feel that we achieve maximum transparency as opposed to registering in some offshore territory or other tax haven with relaxed but opaque corporate regulation.

The ‘Spectrecoin Development Fund‘ is managed within a regulated corporate structure specifically set up to be a not-for-profit organization where the stated objective is to benefit the community. This cannot be changed unless the corporation as such is dissolved.

The current foundation members are dedicated to the long term development of Spectrecoin, and have a personal stake in the project and responsibility under UK law to manage the funds and further the stated aim of the foundation.

The foundation owns the Spectrecoin official GitHub repo, Spectrecoin web domains, and any other Spectrecoin intellectual property, and is the only entity that will issue official Spectrecoin software. If the original members leave the foundation, other members could join and have 100% control over Spectrecoin development resources in the future. The members would relinquish any control over any Spectrecoin assets upon leaving the foundation.

Should the development fund allow, the foundation members could be paid industry-standard salaries that would be subject to scrutiny under UK law? In this way, there are strict limits to the level of remuneration members could receive.

All funds will be used for the development of the software which could include hiring people or using contractors. Should the development fund be of substantial value beyond development costs and salaries, any surplus would be used for research grants, privacy technology research, or to further the adoption of Spectrecoin.

The fact that the foundation exists does not detract from the objective of developing privacy-focused blockchain technology and does not impose any restrictions on our research and development.

THE FOUNDATION OBJECTIVE

Online privacy is of increasing importance in a connected society due to an increasingly complex and multifaceted threat picture. Many countries are also suffering from oppressive regimes that seek to block free communication and curtail online freedom. The Foundation will provide a cutting-edge, privacy-focused, distributed ledger technology through the long term development and promotion of Spectrecoin. The global community will benefit from this technology that will endow users with the ability to protect their fundamental human rights to privacy online.

DONATIONS ACCEPTED

If you believe in our objective of continuing to develop the privacy technology of Spectrecoin and to help spread awareness, please consider donating to the Spectrecoin Foundation.