TenX Community Forum

TenX, decentralization, anonymity and conflicts with regulatory

In this COMIT blog post

it is investigated if it is possible to make anonymous peer to peer applications in Rust via Tor network.

I understand that CoBlox is focused on research and not on developing specific end user applications/services/products. But on the other hand, the research topics are not just random. They are based on influence from what TenX wants to achieve and what the management of CoBlox believes has meaning and represents a direction of research that fits into the bigger picture of a strategy. Research is always pointed at/moving around a higher purpose or a mission of some sort.

@Tenebrae Thomas, maybe you can put some words on this research on anonymous peer to peer applications in Rust via Tor network - from a helicopter/strategic perspective?

  1. How is this related to TenX’s wish to, at some point, to decentralize parts (The tokenomics/PAY in TenX, the services etc) and in this way also protect/make anti-fragile to free up innovation and services in an otherwise very restricted regulatory environment. Is it a sign that TenX is attempting to avoid becoming “just another bank”, and to keep the freedom to innovate within decentralized finance?

  2. From the Q2 2020 transparency report about the PAY token “We are in the process of completing its transition into a decentralized and community-owned cryptocurrency that is fully usable through the TenX ecosystem.” - Is the research done as part of this particular effort?

  3. What specific challenges are there to decentralizing , while at the same time running a business /productization and monetization within TenX.

Thanks.

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Hi Endurance, thanks for your questions.
To be honest with you, I can’t answer the questions satisfactorily at the moment.

  1. We have always had the approach to be a fully regulated financial institution on the one hand and yet also to be solid in the crypto area. The second can only be achieved longterm by offering non-custodial or decentralized products and solutions. With the changes in the management team and the new design of our products we want to remain true to this line. But that will take time till you see the first results.
  1. I can’t tell you anything more about this at the moment, but yes, we don’t want to be responsible for the PAY token any more from a regulatory point of view(!) in order to make progress much faster at this is achieved by decentralizing it.

  2. That is exactly what we are working on. Again, I can’t tell you anything specific at this point. Sorry for that.

Completing its transition sounds kinda like “almost done” … right? After which, can you share more about it? For example, has TenX been selling the vault?

In the old days 2017-2019 the word “soon” was used day after day - We have now entered a period using a more modern and contemporary phrase that replace this. This is “in process of completing” and the abbreviation is IPOC :joy:

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Thanks for the reply Thomas, I really hope that TenX will actually DELIVER and get into the news soon instead of constantly developing and not getting traction. Remind me again please why there is no roadmap available on what specific launches/countries and what new services we can expect from TenX within the next 12 months?

We had a roadmap ready but there is no point in posting one that looks completely different in a few months and sets false expectations. I cannot share more additionally at the moment. Much more information will follow when we have the first alpha and beta tester etc.

So close this forum … it’s useless !

No it’s not? I think Endurance as an example is quite happy to get some answers from us. No point for closing it for some weeks/month till more information is available, and most likely I need some of you when it comes to the alpha/beta testing of the new product,

i also don’t want the forum closed, and i don’t get why anyone demands such things?
how does it help anyone?

mikesunshine, if i remember right, you were partly the reason samve left the chat in the old days… because he was discussing & pointing things out, and your response was “to just leave, if you don’t like it here”.

so… let’s just see what happens, discuss etc…

in regards to decentralisation:
will there be a completely new concept of how to handle the tokens/rewards/business etc.?
or is it an additional feature/service you guys are working on?

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Do you have plans firmed up yet for what you are going to do with the vault pay tokens? You mentioned a few things the day of the report, but haven’t seen anything since.

I’m back tho :wink:

isn’t the roadmap supposed to show your goals? If you add more to that, fine, but if you’re going to change your business model every year I see how that is not very productive. That being said, changing your business model every year is not very productive either.

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Waiting for the Tenx comeback :slight_smile: