will7am

Cryptomate is looking for International investment partners - P2P XRP exchange

18 posts in this topic

Isn't the idea of peer-to-peer aka distributed? So, why should anyone need to franchise a virtual currency exchange market? There must be a reason why this has not already taken place, or maybe it has and failed which is why it doesn't exist today and the idea temporarily forgotten.

This article (link below) is a good reminder of how sensitive these ideas can turn out to be in the end...  https://www.cryptocoinsnews.com/plaintiffs-reach-settlement-one-cryptsy-defendant/

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28 minutes ago, will7am said:

 

 

No, there is no trying (we will not go ahead unless we know it's feasible) and it won't be an internal marketing campaign.  It will be a 20% stake in the localized exchange, not 20% of all branches.  Let me give you an example of how this will work;

Let's assume you're a Canadian who wants to open a localized Cryptomate (in this case Coinbuddy.ca).  We will send you an investment deck and established our system will work in Canada, then we will send over a partnership contract and request 50% of the investment, which is $5k USD.  Once the contract is signed and the payment is made we will begin development with the aim of getting the new exchange online within 60 days.  

Then once the new exchange is online and operational we will request the remaining $5k USD which will be spent directly on a PPC campaign.

In return the investor will receive 20% of all the fees generated by the service, paid out regularly in BTC..  And of course if we ever sell the investor will receive 20% of the final sale amount. :) 

Will you incorporate new company in Canada, for example? In which country do you pay taxes (especially income taxes in case of 20% share)? From which bank account will you pay taxes?

Who holds the rights to the intellectual property (source code)?

Who gets sued if something goes wrong from the customers' perspective?

 

ltrading and papa like this

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13 hours ago, T8493 said:

Will you incorporate new company in Canada, for example? In which country do you pay taxes (especially income taxes in case of 20% share)? From which bank account will you pay taxes?

Who holds the rights to the intellectual property (source code)?

Who gets sued if something goes wrong from the customers' perspective?

 

Great questions.

The new exchanges will be run under our registered British company (CM8 Services Limited) and taxes will be paid in the UK also.  You can pay taxes via credit/debit card so we will use our company Xapo card to pay, so technically we can pay via Bitcoin. https://www.gov.uk/pay-tax-debit-credit-card

Intellectual property will be held by CM8 Services Ltd, this is more to do with security than anything else.

If something goes wrong from a customers perspective (i.e. vendor doesn't fulfill their order even after proof of payment is given) then we will advise them to file a police complaint and we will provide them with the vendor's information if necessary.  As for any lawsuit, we (CM8 Services Ltd) will be liable. :) 

T8493 and rippledigital like this

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