RevoKind is excited to announce it is the first company in Colorado to receive regulatory approved usage to purchase, sell, and/or transfer its native utility token, REVOS. On September 20th, the Colorado Division of Securities received the claim for exemption from registration and licensing from RevoKind, Inc. for REVOS as a utility token under the exemptions provided by the Colorado Digital Token Act.
With these approved uses under the Act, RevoKind is in 100% compliance with Colorado regulation to conduct the “purchase, sale, or transfer of a digital token” for consumptive purposes. Further, RevoKind is the first company to receive such exemptions since the passing of SB 19-023: Colorado Digital Token Act in March 2019.
On September 20th, the Colorado Division of Securities filing stated that REVOS:
- Will be used for primarily consumptive purposes.
- Will be marketed as a digital token for consumptive purposes.
- Will not be marketed for speculative or investment purposes.
By receiving the exemptions from the State of Colorado, RevoKind is cleared to continue developing products outlined in the whitepaper. REVOS is a vital component of the RevoKind suite of blockchain network solutions, which will be used to pay for goods and services on the spatial infrastructure network.
REVOS is the native digital asset that validates transactions and interactions of currency value, asset transfers, Dynamic Smart Contracts™, and asset vaults. As a token, REVOS is built into the spatial RevoKind infrastructure, with the ability to interact with public and private blockchain networks.
The REVOS token economic model is currently under development but seeks to incorporate Revos AI’s projecting output. Revos AI aims to create a new algorithm for awarding REVOS and combining a Swarm Sync Protocol in the RevoKind spatial network infrastructure.
The REVOS economic model will utilize Revos AI to examine the historical trends of asset classes like natural resources (i.e., gold, silver, platinum, diamonds) and cryptocurrency. Using an aggregation of past trends, Revos AI will then recommend a token economic model.
Looking forward, REVOS will be among the primary methods of payment on RevoKind’s first product, IDENT, a digital identity solution.
RevoKind aims to release its public beta platform in Summer 2020.
Seeking Federal regulatory approval
Upon receiving approved uses under exemptions from the State of Colorado, RevoKind aims to also receive Federal regulatory support from the Securities Exchange Commission (SEC).
RevoKind will seek to emulate the BlockStack application to the SEC, which was qualified by the SEC under Regulation A+ according to a report issued by Bass, Berry, and Sims:
Regulation A+ can be thought of as an alternative to a small registered IPO and as either an alternative or a complement to other securities offering methods that are exempt from registration under the Securities Act of 1933.
According to Blockstack, Regulation A+ allows for participation from non-accredited investors in the general population, including US residents.
Should RevoKind receive approved use of its utility token from the SEC, it will be the first company to obtain the State of Colorado and Federal regulatory approval. RevoKind will release further announcements at the appropriate time.
RevoKind is a blockchain network solutions company developing an AI and autonomous real-time data communication system with distributed ledger technology. The technology stack offers an identity and security solution that is fast and globally scalable to meet the needs of users and networks across various industries.
As an enterprise technology company, RevoKind is driving the future of communications and information sharing through advanced internet architecture. Patent-pending technology options make it easy for businesses to adopt and customize a unique enterprise-ready blockchain-based infrastructure.
Currently, RevoKind’s core communication and blockchain technologies are licensable for network integration in the government, telecommunications, energy, logistics, and fintech sectors. RevoKind software offers a new standard of blockchain network solutions for businesses and governments that want a competitive edge.
RevoKind’s first product, IDENT, is an identity solution that provides virtual SIM (vSIM) with remote provisioning and a rich feature set of communication and distributed ledger technologies.