Important Updates Regarding Truwho ICO

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Important Updates Regarding Truwho ICO

 
 
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Important Updates Regarding Truwho ICO


In the interest of being un-hindered in the development and delivery of the absolutely best possible product we have decided to undertake a fundamental shift with Truwho. After significant deliberation and modeling we have concluded that the restrictions that are inherent in the current ICO space are too significant in the long term and have decided to pivot Truwho to a privately funded model instead. As providing the utmost value in product, support, and use to our customers is our top priority we would like to assure all those who supported and participated in the ICO that they absolutely be made whole and then some.

We here at Truwho feel that the ICO model is an excellent one in many regards but also feel that for our goals the shortfalls associated with the practice outweigh the benefits. Regulations vary from jurisdiction to jurisdiction on who may participate or even hold tokens that are now, or once were, related to an ICO - we see this exclusion as fundamentally unacceptable to our goals of making crypto use and adoption more mainstream. We have taken steps to work around these issues and remain compliant in terms of an ICO offering but have decided in the long run the compromise isn't worth it for the company or possible future users. There are further issues that follow a company post ICO such as regulations surrounding the listing of a token on exchanges that are subject to change rapidly in the still young crypto space. Related to exchange issues, the mere fact that a token held an ICO can muddy the waters down the road when it comes to how certain entities determine the classification of a token as a security, utility, or other. The unknown and ever changing regulatory future of crypto as a whole is a major factor in our move, and we see protecting the company against future interruption as well worth the trade offs of going a more traditional funding route. We are in talks regarding a selection of private capital funding options working to find the solution that best promotes the highly innovative and agile nature the team behind Truwho always with a focus on best in class user experience.

The future of Truwho relies on delivering the best possible product and experience while growing the user base, offerings, and company from this foundation. The platform will still have a token aspect as it serves as an essential piece of the operation and part of what we feel makes Truwho a revolutionary approach to KYC needs. Users will still be able to acquire tokens by signing up and various operations within the platform, in addition there are plans to have them available on exchanges. As mentioned above users who participated in the ICO will receive a refund, and in effort to deliver exceptional service to those early supporters we will refund an additional amount to ensure that the crypto you receive from the refund accounts for the any downward price movement that may have occurred since the time of contribution.

Furthermore as another show of our appreciation for early backers you will still receive a portion of WHO tokens matching your initial contribution to the ICO on top of your refund. If you contributed to the ICO please send an email with your user info to refunds@truwho.com using the subject line "refund" so that we may begin the process for your account. Further details will follow soon on the specifics of the refunds. We want to make it crystal clear that this pivot is being made to ensure the long term successes of the platform in its ability to serve our users with what we feel is an incredibly useful system of KYC and related services, we thank you for your patience during this transition and excited for what the future of Truwho will bring.

Sincerely,
The Truwho Team

 

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