AMA: Ask Me Anything Session with SwissBorg (08.12.2017)

The project SwissBorg from Lausanne is doing a Token Sale at the moment. SwissBorg is a Crypto Wealth Management company including a wealthtech DAO. In an “Ask Me Anything Session” in our Altcoin Telegram Channel at Saturday 8th December 2017 the CEO and founder of the project Cyrus Fazel was one hour available to answer all questions from the community regarding this new project (Names of community members are anonymous):

Mr. A, [08.12.17 21:01]

Good Evening Ladies and Gentlemen. The floor is yours for the AMA session of SwissBorg!

Cyrus Fazel, [08.12.17 21:02]

Hi guys

Cyrus Fazel, [08.12.17 21:02]

Bonsoir Gruezi Ciao

Mr. A, [08.12.17 21:03]

Cyrus please explain your company in 2-3 sentences and your role in it. Thanks

Cyrus Fazel, [08.12.17 21:03]

I know it is Friday night but crypto life is always on

Im the founder and proud CEO here to serve our community

In a few words, SwissBorg's project aims to revolutionize wealth management with a community-centric approach powered by Blockchain’s philosophy and technology

We believe that Tokenization will take over combined with swarm intelligence

Will take over most industries.

Mr. A, [08.12.17 21:10]

We have had a Meetup with Melonport last week. What are the differences in your view?

Cyrus Fazel, [08.12.17 21:10]

My daily job is managing overall our team based in Lausanne / Toronto and Tokyo. Creating partnerships, meeting the community (traveling a lot)

Well Melonport which is BTW a fantastic team (Mona & Reto) are really focusing on creating an investment management protocol fully Blockchain.

On our side we manage crypto & money have an internal experienced investment team of 7. We will soon be building customized investment crypto portfolios. Then we will focus on more holistic wealth management services such as payments & digital exchange.

Then the Nature Of our CHSB token is quite unique with the Proof of Meritocracy : where each member will Participate to referendums once a month a get rewarded.

So really focusing on wealth Managment based on a meritocratic system. Which I believe most DAO should do so.

Mr. A, [08.12.17 21:17]

Is this a bit of using the crowd knowledge to determine the portfolio weights?

Cyrus Fazel, [08.12.17 21:19]

Of the long run most Def! Right now more on what type of services, technology and products. Then as the crowd gets wiser we will have a swarm I fund

Right now we believe our different portfolios should be managed internally.

And we mostly do tactical / Event driven / credit / arbitrage / trend following & mean reversion / ICOs

Mr. A, [08.12.17 21:22]

Sounds interesting. Active management is the key in Crypto. Do you have good people with a decent track record?

Mr. D, [08.12.17 21:23]

Hi Cyrus, very cool project! Could you perhaps elaborate a little more in detail on your kyc process? Can anybody act as a financial advisor? How is swissborg legally setup? Do you qualify as an investment company as defined in amla?

Cyrus Fazel, [08.12.17 21:25] [In reply to Mr. A]

You can find many of our trades on Medium

[In reply to Mr. D]

So for the KYC right now we have built our own secured dashboard and it is powered by Jumio.

Cyrus Fazel, [08.12.17 21:30] [In reply to Mr. D]

Going forward you will have financial advisor / quant managers following each jurisdiction some will have to be regulated and everyone will have to go through a proper due diligence. We would have to be sure that we are only bringing in the best. So it will take time to audit, make sure the investment mandate does respect all the metrics (risk/ INVESMENT universe / strategy) and then we will seed the token fund and offer it to our community

Mr. A, [08.12.17 21:31]

Have your set-up alreay reviewed and approved by the FINMA?

Cyrus Fazel, [08.12.17 21:31]

So we will be going for the CISA license here, Banking license in EU and crypto exchange in Japan

Cyrus Fazel, [08.12.17 21:32] [In reply to Mr. A]

No we are under the process it will definitely take some time

Mr. D, [08.12.17 21:34]

Cool, very interesting! So swissborg will select financial advisors. I was thinking, when I decide to purchase your token I will have a stake in the investment infrastructure. So is this similar to a fund of fund?

Cyrus Fazel, [08.12.17 21:36]

You have all understood that crypto is the future but with that you will need to get accreditation in most countries. For this reason, we have to invest a lot of time to make sure we are compliant with most targeted markets.

Cyrus Fazel, [08.12.17 21:37] [In reply to Mr. D]

Well our 1st fund the cryptallion will be a multi manager fund

Cyrus Fazel, [08.12.17 21:38]

Or a FOF but with 1 layer of fees

Mr. C, [08.12.17 21:38]

Okay so the company is called swissborg but is not actually regulated in switzerland yet?

Cyrus Fazel, [08.12.17 21:39]

There isn’t one regulated crypto company here

Mr. B, [08.12.17 21:40] [In reply to Cyrus Fazel]

mmh.. i have to tell this to my regulator

Cyrus Fazel, [08.12.17 21:42]

Well there is no Crypto regulation as of today. They are good practices and for FIAT there are CISA for Invesment managers or Banks.

Cyrus Fazel, [08.12.17 21:42]

The Fintech license goes well for crowd funding.

And then there are all the SRO.

Mr. B, [08.12.17 21:43] [In reply to Cyrus Fazel]

Finma will argue the contrary...

Mr. B, [08.12.17 21:43]

but ok )

Mr. D, [08.12.17 21:43] [In reply to Cyrus Fazel]

Indeed an excellent point. So you mentioned that creating a compliant setup is paramount here. Could you elaborate on your plans how you will ensure this? What are your target jurisdictions?

Mr. B, [08.12.17 21:43]

:)

Cyrus Fazel, [08.12.17 21:44]

So as of Today we have raised 12M which is a good start for the 1st 30 hours.

wooohooo, [08.12.17 21:46] [In reply to Cyrus Fazel]

In a meriocratic system the leaders (or the governance) are chosen on the basis of their achievements. Bitcoin is a meriocratic governance model. How will Swissborg be meriocratic?

Cyrus Fazel, [08.12.17 21:46]

We have stared the process for the Crytpto exchange in Japan. Here Fund management CISA and for he banking license we are looking at Estonia/ Sweden and Lithuania.

Mr. C, [08.12.17 21:46]

so what is the inspiration for your name Swissborg and website looking very Swiss... Are you Swiss?

Cyrus Fazel, [08.12.17 21:48]

[In reply to wooohooo]

Definitely Bitcoin but even a stronger model comes from Steem and Gnosis which I have met at different occasions and have strong respect!

Mr. D, [08.12.17 21:49] [In reply to Cyrus Fazel]

Sounds good, Japan seems to be rather advanced from the regulatory side, which I think is great. So your token will be tradeable against fiat only through the japanese exchange you mentioned?

Cyrus Fazel, [08.12.17 21:50]

So every CHSB holder will have the opportunity to participate each month to referendums and then get rewarded based on his vote.

We believe that passive Dividends don’t make sense anymore we have shifted from capitalism to uberisation to DAO’sation

Where every member of the community works for his community to make it better and gets rewarded (proof of meritocracy)

Cyrus Fazel, [08.12.17 21:53] [In reply to Mr. C]

We are a mix of people Swiss / French / Japanese / Swedish / Eastern European ...

Cyrus Fazel, [08.12.17 21:54] [In reply to Mr. D]

It will take at the least 7 months to get the license but going forward each Token fund will be issued by the platform.

Cyrus Fazel, [08.12.17 21:54] [In reply to Mr. B]

😬

Mr. C, [08.12.17 21:54]

Who is Swiss from your team?

wooohooo, [08.12.17 21:55]

[In reply to Cyrus Fazel] Ok, thanks. Now i got it

Mr. D, [08.12.17 21:55] [In reply to Cyrus Fazel]

Cool! The smart contract based funds, they are all built on ethereum right? So payment will always be in ETH or some ERC20 token? Are you concerned about scalability issues with ethereum? Do you have any IT audit of your smart contracts? How many developers are at swissborg?

Cyrus Fazel, [08.12.17 21:55] [In reply to Mr. C]

1/3

Mr. C, [08.12.17 21:55]

I mean can you share names?

Cyrus Fazel, [08.12.17 21:56]

[In reply to Mr. C] Jeremy / Christophe / Originally me/ Daniel ...

Cyrus Fazel, [08.12.17 21:57]

[In reply to Mr. C]

But unfortunately no one is a Borg in our team. We have been trying to hire CyBorgs but hard to find 😬😬

Mr. C, [08.12.17 21:58]

what is the name of the person in your team who is Swiss? Sorry for being specific just curious

wooohooo, [08.12.17 21:58]

Do you think Swissborg will be classified as a security in the US (and accordingly will not be listed on major crypto exchanges)?

Cyrus Fazel, [08.12.17 22:00] [In reply to Mr. D]

That’s a very very very good question. We have been worried for a while and these last 30 Hours of ICO we HD more than 500 transactions of ETH that has been canceled thanks to CryptoKitties

Cyrus Fazel, [08.12.17 22:00]

So for sure we have been looking at hyperledger but nothing on our GitHub still ...

Cyrus Fazel, [08.12.17 22:01]

[In reply to Mr. C] BAUMANN / diserens. ...

Mr. B, [08.12.17 22:01]

what's your plan B if you don't get the licenses?

Cyrus Fazel, [08.12.17 22:03]

[In reply to wooohooo] Our CHSB is a multi utility token and all our Token funds will be securities. But anyway going forward I believe that all tokens will be securities and each wallet & ID will have be white listed (KYC&AML)

Mr. D, [08.12.17 22:06] [In reply to Cyrus Fazel]

Very interesting. So what AML measures do you have in place against misuse of CHSB? Can you freeze accounts? And who controls the supply of CHSB?

Cyrus Fazel, [08.12.17 22:06] [In reply to Mr. B]

Well there are many legit places in the world to get license. It is hard to believe that we won’t get any of them. Alternatively we could work out a synergie like you did with a bank (we have two that are willing to work with and 1 invested) or buyout a bank.

Cyrus Fazel, [08.12.17 22:10] [In reply to Mr. D]

That’s really Another good question let’s definitely meet! Well right if you fail the KYC AML we reimburse you. Going forward you will have to be white listed. The supply is fix and we are working with BitGo which is one of the safest solution.

Mr. A, [08.12.17 22:11]

Last question for today many thanks for your participation!

Mr. A, [08.12.17 22:12]

Thanks for beeing with us Cyrus and good luck with SwissBorg also after the ICO.

Mr. B, [08.12.17 22:12]

[In reply to Cyrus Fazel]

i believe the question was not about the ICO, but when running Swissborg

Cyrus Fazel, [08.12.17 22:17] [In reply to Mr. B]

Ooohhhh well that is exactly what we are working on with BitGo and our smart mandate. for example how you can limit the usages / rights / ... still a lot of work! Thank you all guys would be glad to meet you. Please come to visit our offices and if you need any further info join our channels!!

https://t.me/SwissBorgChat

Have a great evening!

Cyrus Fazel, [08.12.17 22:17] [In reply to Mr. A]

Many thanks 🙏🏽

Mr. A, [08.12.17 22:18]

Merci! Have a great evening 😊