Governance System

Governance System

Telcoin Association: Overview

The Telcoin Association, a Swiss Verein domiciled in the Canton of Ticino in the City of Lugano, is the legal entity which enables and protects miners coming together to run the Telcoin Platform, legitimizes the community’s rights to organize and create, enforce their own rules for interacting with the Platform and each other with legal recognition and basis.

Overview

The Telcoin Association, a Swiss Verein domiciled in the Canton of Ticino in the City of Lugano, Switzerland, is the legal entity which enables and protects miners coming together to run the Telcoin Platform, legitimizes the community’s rights to organize and create, enforce their own rules for interacting with the Platform and each other with legal recognition and basis. The Verein is an Association of persons and/or entities coming together to facilitate a business or activity. It has minimal requirements as to formality, which allows for flexibility as the community evolves, but also provides necessary formality and legal status so that other persons will be able to interact with it and its limited liability structure enforced. An association business model has been around for a very long time and many international businesses use this for their operations. Switzerland’s Verein structure is well supported and recognized throughout the world. It is particularly well-suited for the varied needs of a decentralized organization and its participants.

  • Entity Type: A non-profit Swiss Verein, which is an association of persons and/or entities.
  • Domicile: The Canton of Ticino in the City of Lugano, Switzerland

    • Objectives: To wrap Telcoin governance in a legal association structure and empower the community of Telcoin Miners with:

  • Legal recognition: Legal recognition of rights to organize, determine and enforce their own rules for interacting with the Telcoin Platform and each other.
  • Legal Person Status: The ability to interact and do business with others,.e.g. enter into legal contracts, as a single legally recognized entity instead of as a group of individuals.
  • Tax clarity: A means for Council Members and other involved actors to file and pay taxes properly.
  • Limited-liability protection: Since the Verein is a separate legal person and recognized as such by governments and courts, any liability is attributed to the legal entity and this “corporate veil” is very difficult to pierce by claimants. This provides great protection to participants from any liability in taking actions on behalf of the Verein or from liability encountered by the Verein as a whole.
  • Legal Protection: Legal standing for Council Members to represent the interests of miners before administrative or judicial proceedings. Furthermore, the Verein itself, and those authorized to act on its behalf, are entitled to attorney-client privileges in any legal action.
  • Information-sharing mechanisms: A global forum to discuss mutual problems, expand the level of knowledge about alternative techniques for sustainable management, and investigate a variety of methods for solving shared problems through legal and political means.
  • Purpose: Scientific, the sustainable development of the Telcoin Platform and governance regime in accordance with its non-profit goals.
  • Constitution: Telcoin Association: Constitution
  • Ratification: TEL users will ratify the Constitution when they vote positively for Telcoin Governance Improvement Proposal number 1 (TGIP1).
  • Learn more about the Telcoin Association here: Telcoin Association