Press Releases

BRUSSELS, Belgium-- Jan.10, 2020 - The World Regulated Digital Asset ExchangeOperators Association (WACEO) held a meeting with the CRD Network Board Members, regarding the operational CRD Network procedure protocol, today at 2 p.m. (GMT+1).

Following a presentation of the CRD Network White Paper, and a briefing on various matters under consideration, CRD Master Node Network Holders were asked to vote on issues pertaining to technical and operational procedures relating to the CRD Network management.

The vote of each CRD Master Node Network Holder will be considered in proportion to their stake in the network. The voting procedure is still ongoing, as it was decided that votes canbe cast by CRD Master Node Network Holders via proxy voting on the WACEO website until the 17th of January.

Each proposition has binary choice options and can independently be ratified or rejected.The issues that are under voting consideration are the following:

• The CRD Network, formerly known as Cryptaldash DAO, will transition from an unregulated sphere to a regulatory framework provided by the WACEO;
• Decisions will be made through the framework of the WACEO CRD Committees;
• Operation of nodes will allow token transfers out of the exchange platform;
• Trades will be cancelled when there is no counterparty;
• CRD Staff that left the project before delivering an outcome, within 18 months of joining, will not be eligible for the discretionary CRD bonus; and
• The introduction of the proposed management board structure, whereby theManagement Board shall be composed of all participants of the AGM 2021, and voting power shall be relative to one million CRD equalling 1 vote.

The following decisions were reached in the meeting:

1. An allowance for a seven-day period for non-present members to cast their votes via proxy;
2. All decisions made via the cast votes will be implemented on the week following the seven-day prorogation; and
3. An executive summary of the events within the AGM, and any such subsequent meeting, will be circulated among the CRD Master Node Network Holders.
   

In addition, there was a Q&A session, wherein the following matters were addressed:

• An explanation of the structure of WACEO and its utility in the transition of the CRDNetwork to a regulatory complying framework;
• A brief overview of the current state of PSD2, the EU regulatory statue enabling API integration of the CRD Network with conventional financial institutions; and
• The next steps that the governance committees and the WACEO should follow.‍

About The World Regulated Digital Asset Exchange Operators Association (WACEO)

The World Regulated Digital Asset Exchange Operators Association (WACEO) is anon-profit organization, established in 2018, with the goal of enabling decentralized ledger pioneer companies to operate in compliance with governmental regulatory frameworks.

Its goal is to enable the transition of blockchain and digital asset organizations into legally compliant institutions. It also provides arbitrage services to solve custodial problems, in regards to network stakeholder management.

Website: www.waceo.org

About The CRD Network

The CRD Network, formerly known as Cryptaldash DAO, is a decentralized subnet based on the Ethereum blockchain acting as an API inter Hub between the centralized and decentralized spheres (between PSD2 APIs and Ethereum Network APIs). It acts as a modular substrate upon which a varied range of FinTech applications can be deployed.

The native token of the CRD Network is the CRD token, which acts as a fee payment mechanism for calculations within the network, as well as an access token for any application that is executed through it.

The CRD Network was instituted in 2018 with the aim of enabling interoperability and reducing transaction friction between Decentralized Finance (DeFi) and its centralized counterpart.

Website: www.crdtoken.org‍

WACEO GENERAL MEETING DISCUSSING

THE CRD NETWORK OPERATIONAL POLICIES‍

BRUSSELS, Belgium-- Jan. 21, 2020 - The World Regulated Digital Asset Exchange Operators Association (WACEO) held a meeting with the CRD Network Board Members, today at 2:30 p.m. (GMT+1), regarding the CRD Network’s transition process to a legally compliant framework through the WACEO’s corporate governance structure, as well as a discussion of the liquidity and master node programs.

The meeting started with a brief summary of the various topics discussed in the conference held on Jan.10, 2020. The following subjects were readdressed:

1.  An explanation of the CRD governance structure and its goal to transition into a regulated environment.

2. An explanation of the WACEO as a non-profit organization based in Belgium, which will aid the CRD Network in its transition to a legally compliant structure.

3. Outlining the ratified policies that were previously voted on, including:

• The acceptance of the proposed management board;
• Establishing specialized committees, which will be assigned with proposing workable solutions to specific problems that impede legally compliant network operations;
• Decisions will be made through the framework of the WACEO CRD Committees;
• Operation of nodes will allow token transfers out of the exchange platform;
• Reversing negative balance trades; and
• Denying bonuses to former staff members who left before delivering their obligations. 
  

After which, the conference continued with a delineation of the present state of the CRD Network, and its operant strategy wherein it will pair up with social influencers to design use cases for a built-in audience.

A specific example of such an implementation of the strategy was provided by showcasing Tacoswap, a decentralized exchange that uses CRD as an access token, which was built through a partnership between a francophone influencer and the CRD Network. This case study was then used as a means to explain the liquidity pools and the master node programs in more detail. 

During the discussion of the liquidity pools, it was stressed how the maintenance of the stability of the CRD was a fiduciary responsibility of legacy CRD holders, given that any major and instant withdrawal would jeopardize the strength of the system. 

This could potentially compromise the relationship between the CRD Network with the social influencers, and therefore any large withdrawals ought to be made with the integrity of the system in mind. 

It was also mentioned that withdrawal contingency protocols will fall under the purview of the WACEO in future with the goal of ensuring CRD stability. In this way, influencers can be convinced of the reliability of the network by providing indemnified assurances.

Influencers are designed to be the lynchpin in the adoption of the CRD Network by the wider public. As such, future use case deployments rely on pairing up with influencers. To that end, the community was invited to suggest potential influencers that would be interested in building a FinTech app for their community, which uses the CRD as an access token.

The discussion then proceeded to technical problems regarding the integration of the CRD Network within the Ethereum blockchain, as well as PSD2.

The last item on the agenda concerned a brief explanation on the withdrawal protocol of CRD in regards to master node holders. The nodes will be active tomorrow and can process the transactions thereafter. 

The presentation then concluded with a brief Q&A, wherein the chief concern was regarding redepositing CRD in the Master Node Program and the technical implications of further integrating systems with other organizations.

About The World Regulated Digital Asset Exchange Operators Association (WACEO) 

The World Regulated Digital Asset Exchange Operators Association (WACEO) is a non-profit organization, established in 2018, with the goal of enabling decentralized ledger pioneer companies to operate in compliance with governmental regulatory frameworks.

Its goal is to enable the transition of blockchain and digital asset organizations into legally compliant institutions. It also provides arbitrage services to solve custodial problems, in regards to network stakeholder management. 

Website: www.waceo.org

About The CRD Network 

The CRD Network, formerly known as Cryptaldash DAO, is a decentralized subnet based on the Ethereum blockchain acting as an API inter Hub between the centralized and decentralized spheres (between PSD2 APIs and Ethereum Network APIs). It acts as a modular substrate upon which a varied range of FinTech applications can be deployed.

The native token of the CRD Network is the CRD token, which acts as a fee payment mechanism for calculations within the network, as well as an access token for any application that is executed through it. 

The CRD Network was instituted in 2018 with the aim of enabling interoperability and reducing transaction friction between Decentralized Finance (DeFi) and its centralized counterpart. 

Website: www.crdtoken.org