ICO

A Currency Built on Education, not Speculation

We can't think of a more valuable asset than human potential. And education is the key to unlock it. Every mined Shakti Coin represents one day a child has spent in school. An ICO is an easy way to raise a lot of cash quickly, but it also comes with some caveats that we are not comfortable with. Here are four reasons why an ICO is not best for Shakti Coin;

First, we have vowed to operate within the existing legal framework regulating currencies. We want to respect all territorial laws, specifically FINMA, SEC, ESMA, FCA, ISA, SEBI, CSRC, to name a few.

Second, to keep things simple, we want to keep Shakti Coin free and clear from the many forms of regulation that come when you conduct an ICO. If we sell tokens to bootstrap the Shakti ecosystems then we are entering into a monetary contract with the public. Under current laws, we will then be designated as a security, which comes with a host of restrictive regulatory obligations.

Third, we want the currency to have a stable value. We also want to bring to the market the integrity of mining every coin by parents in cooperation with their community. Thus creating and upholding the value of $5.00 USD for a labor of love each and every day.

And above all, Satoshi opted to build Bitcoin on the backs of miners. We want to do the same. It's our miners in the local communities who will build the Shakti ecosystem to benefit themselves, their children, and their neighbors. And this time, without the unforeseen environmental issues.