Started LLC during the Hackathon to Issue and sell WYO125 Security Token
Started LLC in Hackathon to act as Funding Portal for Security Token Issuer
Actual Token Generation of 100,000 WYO125 Security Tokens
Crowdfund Series LLC Theme Artwork
Token Generation Wallet
Pay-per-second video streaming with Bitcoin
About Wyoming Invest Now
Economic Development using Wyoming Blockchain Law, Tokenization, and Crowdfunding.
What we learned
Wyoming Blockchain Law and Wyoming Invest Now legislation allows for the crowdfunding of businesses through the tokenization of securities. The goal was to write and code a purchase agreement that would allow for the generation of a legally binding Bitcoin Token. The biggest lesson learned was that Banking and Depository institutions in Wyoming do not have the capacity nor program knowledge to assist Wyoming Companies in obtaining a mandatory crowdfund escrow/impound account. No Legal sale can occur until this criteria is met.
How the project was built
The token project was built using the Bitcoin Computer. Our goal was to code in the proper language necessary for the Token to be legally purchased under US and Wyoming Law. Token GitHub
The historical "pay per second" video player and "paid to viewer" commercial player provides the token Issuer a means to market the tokens.
We purchased a social media template on Envato, Rule 5(a)(i/ii) "publicly discovered source code", we dropped it into Git hub then we edited the images, code, & text. We then installed Bitcoin paywalls as to educate our audience as to how the law applies to the crowdfund token generation ecosystem. Editing the source code of the site allowed us to highlight how the token can facilitate economic development when properly marketed. Codecanyon
The team had specialized skill sets and were able to accomplish much more than anticipated in three weeks. Dave- Moneystream paywalls. Clemens- tokenization. Andrae- web developer. Mohana- Moneybutton paywalls/Op_Return entries. Ted- Team Leader/Legal Analyst.
We pulled original Token source code and added several features to make it compliant. Primary attention was proper placement of the On-Chain operating agreement, private placement memorandum, and purchase agreement referenced in the Transaction ID of the token. The artwork is both functional and artistic. The text signifies the make and model of the Token as a series of functional securities.
The WIN program's has been active for two years, and has unfortunately seen the Exemption of only 1 company and 2 crowdfund portals. We feel our properly marketed Tokens could generate more than 100 new Companies in 2021.
Our WYO125 Token has true utility in that, after a six-month regulatory time lock, allows the Purchaser to immediately trade it in a secondary market for fiat or crypto-currency without asking permission, paying commissions, or accessing an exchange. Paper stock certificates do not have this freedom nor velocity.
"The security token is the security of the future. European and local authorities now acknowledge that DLT platforms and security tokens can provide clear added value in terms of transparency, efficiency, and enhanced reporting/oversight." - Deloitte
Even though we failed at achieving a legal sale within the Hackathon, we are hopeful that we will eventually find the banking relationship necessary to achieve our goal of financing 100 companies in 2021.