As of today, our Geneva-based startup TRUSTLESS.AI, which originated as a spin-off of the Trustless Computing Association (TCA), has signed a new agreement with that restructures their relationship into one of spin-in.
According to such specific spin-in model - similar to the German DoD Herkules, but multinational - a new signed agreement with TCA ensures that the startup spin-out TRUSTLESS.AI and Seevik Net will be mandatorily owned and controlled by TCCB - via an option acquired by TCCB to buy 100% of its shares at precisely-defined non-speculative conditions - in order to leverage private sector innovation while ensuring a highly democratic and multi-national long-term control of such a sensitive transnational democratic infrastructure.
The new structure is expected to eliminate crucial concerns that were highlighted about the previous spin-off model by governmental and semi-governmental entities - that have been invited and engaged in order to join as governance partners of Trustless Computing Certification Body, and as investors into the startup via their state-controlled cyber-only VC arms.
In fact, their formal involvement in a Trustless Computing Certification Body, that had a limited-time exclusivity for certifications with a spin-off, but independent private company, such as TRUSTLESS.AI - could have been be construed - in actuality, perception or even legal terms - as undely benefiting its private individuals, such as the startup founders, investors and shareholders.
Most importantly, the new structure ensures that the long-term control of the startup and especially of the uniquely interoperable private secure communication infrastructure, and social space they create, will be insolidly in the hands of a international democratic organization, rather than private individuals that, however ethical they may be, they don’t belong at the steering wheel of something like that, they could change their priorities, they could sale one day to an amoral, evil or even adversarial entity.
