Two days ago we announced the Mt Pelerin protocol We believe this is quite unique and historical and for one reason because we look at the whole life time value of this token and what this framework brings is a way to create any type of security token, any type of asset-backed token, any type of pretty much anything that has a real counterparty in real life and yet be compliant with pretty much any jurisdiction, of course for Switzerland We have pre-designed several type of tokens such as the fiat tokens that has all the rules to make it working with the Swiss regulator. The security tokens such as share token, debt token, loans, etc. And as well as derivatives as well. We have a framework for the transferability Etc. and then you can expand this use case to any other things and today what we building here is this Basically, very flexible framework But we want to prove it we don’t want just to say well this is the best security token platform issuance whatsoever No, I mean this is not what we intend to do it in the first place. So this is the base This is the root for the future bank we’re building to tokenize it entire balance sheet, so this is very important for us that Since day one it is fully compliant and fully parametered that we can trigger all the parameters to make sure it works just like the regulator would like it to work. So we will prove and we will prove by selling the first share token ever which is the Mt Pelerin token, the MPL token that will represent the share of the future company and This is quite historical because for the first time we’re not selling a voucher for share We’re not selling any type of utility token plus some kind of profit-sharing or revenue sharing or whatsoever. We’re really selling you shares that means that you will be protected by law and not by a simple contract between the company and an Individual it will be protected by law as a shareholder And again on our side the way we made this token to be compliant is that we had to make some restrictions We had to put some conditions around the fact that you become shareholders So today this token will be freely transferable Without having to have a set of whitelist, but in order to become a shareholder you will need first to own the token but then you need also to pass the KYC and that will grant you The two privileges that are attached to the fact that you own the share Which is the social right being able to vote and the economical right being able to receive a dividend. There is also one thing that is important to note is that we are open-sourcing everything. So it’s already there anyone can download it, use it, and fork it, can contribute It’s fully open-source, anyone who wants to issue their own security token their own shares on chain Well, it’s all there but of course there is as well the compliance aspect and the legal aspect because you cannot go and sell shares to the crowd without the proper prospectus without Proper terms of sales and to explain to people exactly what they are buying into right? So that’s also why we’re going to open-source all our legal documents so that the next people coming to do it They can just copy/paste what we’ve done change some numbers in line with what they intend to do change your name and Just not even changing a single rule being able to issue a new share token and that I think is quite an advance today because You don’t need to pay 100k this lawyer to make this and that you will just be able to copy/paste what we’ve already done Again, this is the first use case, the share, but this framework is unlimited, so by just Changing the rules, by changing the order of the rules, changing what you apply, etc. You can look at issuing pretty much any type of instrument. So today what we’ve done is Flexible enough to comply with any type of regulations, of course today we don’t know how it works outside of Switzerland and the EU that we know well So that would be for you up you if you want in the US to do it to make sure you have a good lawyer that makes all the document the legal documents that comes along with it and that you maybe Reshape this token so that it fits these requirements But on our side at least what we can do, is that for Switzerland, we know it works. So You can just copy/paste and use it. So let me compare maybe quickly the Mt Pelerin protocol With Polymath for example. Polymath is a good example of what has been done up to now by pretty much several competitors Most of those guys, they were really focusing on one thing which is the issuance. How can I issue and sell securities on chain? How can I make sure that it is compliant and what you saw is that for example companies like Polymath I think it’s a very good example they created a kind of platform, at least working on creating a kind of platform where people can Use already-made smart contracts to issue those security tokens And then they want to put on the same platform some lawyer so that for everything you want to do You can contact this lawyer. You will pay the bill directly to him. He will help you produce all the legal documents That comes along with it, etc. You can have different actors on their platform But the fact is that on their side the way they look at it is that we are just the IT provider And you can even see that by the way they finance themselves. They issue the utility token So they are claiming to be the security token guys, but yet they didn’t apply it to themselves first so they said we’re issuing a utility token and yet if you want to issue a security its unproven. and then the second aspect that we were missing here is the lifetime value of this token because again, It’s not about the issuance only, it’s not about Selling it at the first stage It’s not about the primary market But it’s as well the point of the lifetime value and the only way you make it compliant is by having a set of whitelist Restricted to only people that have passed the KYC and that’s it It makes it less appealing. Of course sometimes you don’t have any other option Yeah, that’s by law what you have to do But sometimes you don’t, sometimes you can find other ways and that’s pretty much what we believe on our side Is that by having a more refined way to put conditions and restrictions on transferability. We can achieve something way more powerful by having tokens that represent such a security or share or anything and where you can activate some rights by passing the KYC meaning that you can still have the Transferability quite free up until certain amounts, etc., so you can define any type of rules but at least you can define a very much very, well, better refined type of Framework and have something that is a lot more appealing and also something that is evolutive over time in order to fit new evolutions of the the regulators the legal aspect of it. So while many other companies focusing on bringing securities on chain are Really focusing on the IT side of it on the IT aspect of it. We’re focusing on the full scope And today we have of course working IT prototype. We are testing it in real life with banks It’s still at the stage of proof-of-concept, still But we aim we intend and our ambition of course is to become the bank and therefore to become the one-stop-shop for Anyone in the world to issue those tokens in a compliant way because they would delegate it to us the idea Is that as a bank we have the infrastructure to issue those tokens for them, but as well as all the legal Requirements that come along with it and of course and ensure the lifetime compliance of this token and to facilitate and to be the “arrangeur” basically of those transactions for anyone, even the pizzeria, even the hairdresser, anyone that is not sophisticated enough obviously, to do that on its own.