Since the last newsletter, HIT Foundation made a major technical decision. We are building our solution on the public blockchain of NEM Foundation. It is characterized by high scalability, security and its superior multisignature wallet. The Proof-of-importance consensus mechanism is energy conserving and fits with our sustainability philosophy. NEM has been developed for real world applications and the speed of software delivery increases dramatically. Last but not least, HIT Foundation and the development of our decentralized application is now directly supported by the NEM Foundation.
News and Updates from the HIT Foundation Team and Community
We are fortunate to announce that Vega Paithankar joined HIT Foundation as full-time CTO. He was with Google, Oracle and Sun Microsystems and has worked as a cryptocurrency developer for the last years. Together with our developer team from Netcetera and NEM he will deliver our decentralized application.
May was filled with a lot of conferences and speaking engagements such as Consensus at New York, the Monaco Blockchain Week and Blockshow Europe 2018. We were interviewed by the New Economies Show at NASDAQ and featured in Cointelegraph. We also introduced HIT to the health IT community at HIMSS Europe in Sitges and to the Federal Ministry of Health in Berlin.
Approval by FINMA and Start of Public Presale of HIT Tokens
Another milestone in the ICO/TGE context is the approval by the Swiss Financial Market Supervisory Authority FINMA that we can go ahead with our token sale. The fact that our token is now considered a payment and utility token has some important implications for our partner acquisition. We are not only partnering with information seekers who are willing to pay individuals for making their data shareable, but also target service providers that are willing to accept tokens as a means of payment.
With the FINMA ruling we are also able to switch to the public presale where we are selling the tokens of the 1st tier with a 20% discount. For those of you who already have expressed interest or have not returned the contract yet, this is the last chance to claim the HIT tokens at a 50% discount. Therefore, you must get in contact with us or register online (indicate active participant) by June 22nd!
New Bonus Model for HIT Network Participants
As in almost all ICOs the HIT token is a revenue model in itself. The value of the capped token is based on the size of the user base, number of quality partners and how often the token changes hands. A growing network leads to increased token demand and value. To make it more attractive for users and investors there is a 1% transaction fee collected from the information seekers that will be distributed to all network participants depending on their wallet size, i.e. number of HIT tokens in the wallet, and transactions per wallet.
Token Distribution starts now
Those of you who already contributed to HIT Foundation will be contacted by us next week. However, you can open a NEM wallet if you don’t already have one, because that is what you need in order to receive the HIT tokens now.
On behalf of the HIT Foundation,
Eberhard Scheuer, Founder & Chairman