With the leading blockchain, sidechain, dapp, and contract developing ability, EOSpace is committed to be the best BP. EOSpace set up and maintain dozens of communities of EOS. We have built a distributed blockchain lab, including related business like traffic center, news center, overseas operation, investment banking service, project center and exchange center(Australia, Singapore, Korea) etc. We hope to continue to contribute to the EOS ecosystem.
When forming any business structure many factors determine the strategy an entrepreneur will choose. These factors may attempt to account for customer demand, geographic demand, the regulatory landscape, compliance requirements, tax obligations, and more. When one is dealing with a nascent technology there tends to be many future possibilities that cannot be fully assessed in the present, so one must make educated guesses about what the future may hold.
When EOS New York began to plan what our Block Producer legal structure should look like we had a few design goals in mind:
1. Transparency and flexibility
2. Protection of capital assets (i.e. network infrastructure) from geographic risks
3. Protection of the EOS network from actors (e.g., hackers, regulators) that may want to cause it harm
4. Comply fully with local laws and regulations
These four goals guided our decision-making in the creation of our business structure. We consulted with a leading blockchain industry law firm and decided to establish separate entities in separate jurisdictions. This structure provides transparency, network and capital asset protection, and ensures compliance.
There are ___3___ owners that comprise 100% ownership of all companies:
The Zhiyou Star Information Technology (Beijing) Co., Ltd. company provides us an international presence that is flexible to the many possibilities presented by the EOS network. Most importantly, it allows us to focus our attention and support the EOS mainnet exclusively.
Zhiyou Star Information Technology (Beijing) Co., Ltd.
Legal entity type: Information Technology
Jurisdiction: Beijing, China
Established: 09 September 2014
Primary purpose and assets: Block producing node, accompanying network infrastructure, intellectual property.
EOSpace has the long-term in mind. All of our owners have agreed to a 4 year vesting schedule with a 1 year cliff. This means that all owners must be fully working, engaged, and performing their responsibilities for a full 4 years before fully vesting their equity. If any owner leaves or does not perform their duties within the first year, they will receive no equity. Since we are directly tying our performance to the network's, this vesting structure aligns our own incentives with the network's long-term health and growth. To us, this was a critical feature of our structure to make sure everyone is focused on growing this community the right way.
This process was not easy and it took us roughly six months to complete. It took us time to find friendly jurisdictions for blockchain-based businesses, but the challenges we faced in establishing our structure are ones that we all share as an industry. Governments and regulators around the world are trying to retrofit a brand-new technology into pre-existing regulations to counter-productive results. As the EOS mainnet and surrounding communities mature, it is our goal to act as an ambassador of the EOS blockchain and help shape regulation that is helpful rather than a hindrance.