Sensay Chatbot Launches Ethereum-based cryptocurrency

A chatbot service announced its own Ethereum-based cryptocurrency
14 August 2017   3987

Sensay, a chatbot service, has announced plans to launch an Ethereum-based cryptocurrency called SENSE.

Founded by Crystal Rose in 2015, this messaging platform designed to help you with any task. Sensay, unlike other regular chatbots, values human interaction. Optimized for Kik, SMS, Slack, Facebook Messenger and Telegram (beta versions for Line, WeChat and Skype are also available), it connects you anonymously with a person who can help you to get an answer on any topic ranging from relationships to existence of unicorns.

Since its launch Sensay has been used by nearly 3 million people, and now, as Crystal Rose has mentioned, the company's priority is monetisation in order to encourage users to continue giving advice on various subjects, and SENSE is here to make it.

Today, advice givers can be awarded by tokens, and nearly 20 million coins was given out already.

We want to take the knowledge attribution and put it on a blockchain and give you value for it.

Crystal Rose
Founder, Sensay

The company plans to expand the functioning of the currency in the future making it available to bots, apps, and services beyond Sensay.

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.