Swiss regulator approves WINGS Foundation to launch donation crowdfunding

The WINGS Foundation is registered in the Canton of Zug, Switzerland, and is approved and audited by the Zug Commercial Registry. It aims to establish a decentralized project creation, financing and management platform based on blockchain.

Zug, 16 November 2016

The WINGS Foundation (https://wings.ai) aims to create a decentralized platform for DAO creation and management, and has been approved by the Zug Cantonal Commercial Registry to engage in commercial activities such as development, support and maintenance of new technologies and applications, especially new open source and decentralized software architectures. The main focus of the WINGS Foundation is the development of the WINGS platform and its corresponding technologies, including the development of various applications that use WINGS.

In addition, WINGS also announced that it is in contact with MME Partners, a Zurich-based innovation consulting agency, to ensure that complex legal, tax and regulatory compliance issues are avoided. Boris Povod, President of the WINGS Foundation Board of Directors, said,

“We are delighted to be working with MME Partners, one of the leading legal, tax and compliance advisors in the blockchain space, who have previously worked with the Ethereum Foundation, to ensure that the WINGS Foundation meets the necessary Zug legal and compliance requirements. After more than nine months of work, we have secured the WINGS platform and are looking forward to the donation crowdsale on November 18th, and finally the launch of the WINGS platform on the Bitcoin blockchain via the RSK sidechain in early 2017.”

Thomas Linder, Partner at MME, said:

“We are pleased to see an organization like WINGS Foundation, which focuses on the development of new technologies and applications, especially new open source and decentralized software architectures, move into Zug’s Crypto Valley.”

DAO is a new organizational form that enables distributed participants around the world to share unalterable contract records, raising productivity to new heights and making cross-border projects more efficient. Large, globally distributed organizations do not require any centralized leadership, and the fluid organizational model enables autonomous decision-making and independent institutional governance and operations—all of which come from the unalterable blockchain and the execution of smart contracts.

WINGS combines the concepts of DAO, decision-making mechanisms driven by economic incentives, and decentralized prediction markets that can be easily accessed by anyone through a smartphone. Project supporters on the WINGS platform understand that DAO technology and prediction markets can bring a higher success rate to projects and give a voice to project shareholders. Currently, WINGS has developed a complete evolution pipeline of potential DAO projects, including: a decentralized advertising network, a Bitcoin ATM DAO, a contract DAO, a decentralized insurance DAO, and even a network security DAO, a solar DAO, and a battery DAO.

Currently, WINGS is still in the pre-alpha stage, but it is ready to launch the long-awaited donation crowdfunding campaign on November 18th, bringing the next generation of DAO and blockchain technology to early users and towards large-scale adoption. WINGS's support activities allow the Foundation to realize a fully functional platform and establish a decentralized ecosystem to drive the development and use of DAO technology in project evaluation, forecasting, financing and governance. This is the first fundraising campaign to accept 5 cryptocurrencies, including BTC, ETH, ETC, LTC and XRP.

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For more information on registration, audit and approval by the Commercial Register of the Canton of Zug, please visit https://goo.gl/i9EW2o

WINGS Foundation

WINGS Foundation is a decentralized team of blockchain experts that aims to make distributed autonomous organizations (DAOs) mainstream. WINGS makes DAO technology readily available to entrepreneurs and companies seeking to leverage Bitcoin’s global reach and other blockchain features to support project financing. They focus on swarm intelligence-driven prediction markets, high-quality decision making, pervasive smart contracts, and decentralized protocol frameworks for globalization, as well as instant messaging for user reach. For more information, visit WINGS’ website at https://wings.ai.