Mar 27th 2017
a year ago
Apr 28th 2017
a year ago
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TaaS is a tokenized closed-end fund designed to reduce the risks and technical barriers of investing in the blockchain space. Built on a profit-sharing smart contract, TaaS introduces an innovative Token-as-a-Service business model, allowing investors to subscribe to the fund’s income stream. TaaS built an innovative Cryptographic Audit technology to become the first, truly transparent fund dedicated to cryptocurrencies and tokens. Cryptographic Audit (CA) is a set of complex monitoring tools that allows any member of the public to easily validate trading history and portfolio balances. CA is built to set high security standards for money flow in blockchain projects. Here is how we’re going to achieve our transparency goals:
They will give preference to using exchanges that have Proof of Solvency (PoS) implemented; cold storage reserves can be audited, as in Poloniex and Kraken. For each account that is going to be used for trading on the exchanges, we will create a view-only API key that will allow anyone to verify the balance and trade history of the account. For all non-exchange accounts, such as cold storage addresses, that will be used for storage of our funds we will provide a proof of ownership.They will use TLSNotary or a similar solution to provide cryptographic proof of fiat currency reserves in our bank and exchange accounts. In short, this can be achieved by recording SSL signatures of online banking sessions. To have proof that nobody mismanaged data between audits, a special smart contract will be developed to hold permanent daily snapshots of audit data. The contract will be supplied with a convenient contract explorer.