The Polish Financial Supervision Authority confirmed personal token — RahimCoin
A year ago, at Infoshare, a Polish conference devoted to the new technologies, Rahim Blak presented RahimCoin — a personal token enabling participating in personal income of its issuer. He informed the audience on the issuance of 21 million equity tokens.
Rahim Blak believes that investment in an individual is more reliable than in a company. Probability that one of many projects ran by such an individual will succeed is higher than chance of success of a specific start-up. His observation of personal brands’ level of impact on business and his faith in human potential effected with him coming up with a Personal Brand Exchange — Sapiency. Sapiency will be a simple app enabling users to invest in individuals by buying their personal tokens. Personal tokens will come in three types — supporting token, payment token and equity token. In-app payments will be carried out using Sapiency (SPCY) cryptocurrency, ICO of which will come to an end at the end of the year.
In order to show the society that investing in individuals makes sense, Rahim Blak decided to start with tokenizing himself first. A heavy battle with authorities and regulations started here. After over a year KNF, the Polish Financial Supervision Authority confirmed that RahimCoin, legally framed as a renewable loan entitling the investor to demand from the issuer an interest dependable on the issuer’s income, does not violate Polish banking and investment funds regulations. KNF’s opinion in practice means that RahimCoin is not a security and does not have to fulfill all the usual requirements to be recognized as legal.
RahimCoin is an honest and certain investment. A personal equity token is a form of a loan enabling an individual you invest in to develop their business and pay you back the loan with interest that depends on their income you help them to achieve. On 16th May 2019 Rahim Blak paid the first dividends out of his personal income. Loan form’s great advantage is that you can either hodl your RahimCoins and receive the dividends or get back your money at any time. KNF’s opinion is a huge step that opens the door for Sapiency to enable issuing similar personal equity tokens in the future. If you would like to have a possibility to invest in an individual in a form of this or other similar projects in the future, invest in Sapiency via sapiency.io.