We are excited to share the news with our community that we have created the Permission Association to be seated in Zug, Switzerland. We are thrilled that the protocol will be relocating to “Crypto Valley” and joining a vibrant blockchain and cryptocurrency ecosystem across Switzerland and Lichtenstein — with Zug at its epicenter.
About the Permission Association
Permission has incorporated the Permission Association (“the Association”) in order to further decentralize the Permission Platform, which includes technologies and applications that enable individuals to own, control, and monetize their data. The Permission Platform, powered by Permission’s native token, “ASK,” advances data ownership and personal sovereignty by fostering a transparent data economy and enabling a fair value exchange between advertisers and consumers.
The mission of the Swiss-based Association is to develop, empower and expand the Permission Platform in a decentralized, independent way. The Association’s objectives include providing financial and non-financial support to the Permission Platform to further expand its decentralized protocols and applications in Web 3.0.
Additionally, the assembly of the Association is able to pass resolutions on the governance decisions for the Permission Platform. Permission users can become Members of the Association and have a voice when it comes to core technology governance decisions. Permission’s goal is to further increase the level of decentralization in the future by increasing the number of Members within the Association.
Our Decision to Associate in Zug, Switzerland
Known across the globe as “Crypto Valley,” Zug has in recent years become one of the most crypto-friendly jurisdictions in the world. The Kanton of Zug’s decentralized system, favorable tax framework, stable political environment, and mature and respected regulatory infrastructure have attracted some of the world’s most well-known blockchain projects. In Zug, Permission will no doubt be well-positioned for accelerated development, networking, and financing opportunities that will support ecosystem growth.
Permission Association Board of Directors
We are honored to announce the formation of an exemplary Executive Board to serve as founding members of the Permission Association. Charlie Silver is a serial entrepreneur and founder of Permission.io and will serve as the Board President. Patrick Storchenegger is a member of the foundation council of the Ethereum Foundation and owner of PST Legal, a law firm specializing in Swiss and international tax law, corporate law, commercial law, blockchain, and beyond. Raffaela Piraino serves as the Chief Financial Officer of the Energy Web Foundation and its related entities, and has served as CEO of several successful companies. This board possesses a wealth of priceless experience and interdisciplinary knowledge that will guide the Association and its goals into a successful future.
Looking Forward
To advance the goal of further decentralizing the Permission network, the Association’s immediate initiative is to enable Permission’s migration from its proprietary blockchain (“the Permission Blockchain”) to Polygon, the preeminent Ethereum scaling solution. The migration will require that a new ASK token be issued on the Polygon blockchain, replacing Permission’s current native token on the Permission chain.
Permission’s migration to Polygon recently received regulatory clearance from the government body responsible for financial regulation in Switzerland. The Swiss regulatory authority has answered a ruling request from Permission (also known as the “No-Action letter” process) pursuant to which the ASK token classification as a utility token under Swiss law was confirmed. Therefore, Permission’s planned token swap has achieved regulatory compliance under Swiss law.
Polygon’s infrastructure and scaling solutions will be core to decentralizing and growing Permission’s platform, which allows advertisers to “ASK permission” and interact with users and their data on a consent basis. The move to Polygon will significantly expand ASK accessibility and utility by enabling interoperability with the Polygon and Ethereum ecosystems, including access to DeFi, staking, and more.
Once the migration officially commences, a bridge will be available to all ASK holders and Permission users to port their ASK to the Polygon Network.
We are immensely excited for what the future has to hold. Stay tuned, as we will soon be releasing an updated roadmap and additional details about the migration to Polygon.