One of The First BTC Devs to Join ERA

The new startup will release an AXE token based on the GUN indexing system and Malmi's developed decentralized Identifi identity protocol
31 July 2018   1042

First after Satoshi Nakamoto,  bitcoin developer Martti Malmi joined the team of the ERA cryptocurrency project, whose goal is the decentralization of the Internet. This is reported by CoinDesk.

The new startup will release an AXE token based on the GUN indexing system and Malmi's developed decentralized Identifi identity protocol.

In 2014, Marty Malmy created his own unique system to reduce the control of corporations such as Google, Facebook and Amazon.

Martti and I were discussing how governments can still blacklist bitcoin miners' IP addresses. Telecom companies, Google, Amazon or others can throttle or reroute our traffic without net neutrality.

Mark Nadal

CEO, ERA

According to Malmy, thanks to Identifi, users will be able to leave a digital signature under their posts and attach the identification data (name, avatar, reviews) to the public key.

You could have users digitally sign all their posts and use Identifi to fetch the identity profile (name, avatar, feedback etc.) that corresponds to the public key. You could use your Identifi web of trust to filter out spam, trolls and other kinds of unwanted content without resorting to centralized censorship. That is useful for decentralized social media.
 

Martti Malmi

Bitcoin developer

The AXE Token will allow you to pay for the transfer of encrypted data between servers that can not "read" them.

According to Mark Nadal, the ERA project will use AX as decentralized money and will not use the blockchain to store user data.

SEC May Signal Some Flexibility on ICOs

Looks like senior advisor for digital assets and innovation at SEC is not 100% against ICOs
14 December 2018   25

Some blockchain projects may be able to circumvent the requirements of US securities laws by contacting the Securities and Exchange Commission (SEC) for a so-called non-action letter. As SEC consultant on digital assets and innovations Valerie A. Szczepanik explained, such letters will not be issued often, but this does not mean that they cannot be received at all.

I think that’s a way forward for a lot of people who want to implement some of these things that may not exactly fit in the format of the rules that we want. 
 

Valerie A. Szczepanik

Senior advisor for digital assets and innovation, SEC

According to advisor, issuers of tokens have three ways to comply with the requirements of the laws: register an offer of securities, declare an exceptional case, or "make sure they're not a security."

In certain cases, the SEC may decide that “maybe this doesn’t fit the letter of our law or regulation but it fits the spirit and we can accomplish all the goals of investor protection”. In this scenario, the SEC may indeed issue such a letter, which will indicate that its employees do not recommend taking legal measures against a particular issuer.

The letters set forth exactly what the person plans to do or the entity plans to do and if it’s something that the SEC feels comfortable with we can release a no-action letter for exemptive relief saying ‘we can recommend no enforcement action.
 

Valerie A. Szczepanik

Senior advisor for digital assets and innovation, SEC

As reported, her remarks signaling a modicum of flexibility are notable in light of SEC Chairman Jay Clayton’s advice last month to anyone raising money by selling a token that they should “start with the assumption that it is a security.”

Speaking about the principles of recognition of tokens as securities, Valerie recommended to take into account the structure of sales. According to her, only in rare cases the token will not be recognized as a security. Most often, investors expect to profit from investments in such proposals, which is enough to recognize them as the spread of securities.