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ABOUT CURRYNOMICS​

Foundational Concept

  • Currynomics stemmed from a unique exploration: to redefine the understanding and use of means of payment. The product of this exploration is the Currynomics Manifesto , which presents a vastly different approach to financial transactions. The breadth of applications emerging from this concept is extraordinary and continues to evolve. A deeper look into these applications can be found in our Projects section.
  • At the core of Currynomics is the establishment of the Currynomics Foundation, a Private Foundation under Austrian Law. The Foundation plays a role analogous to a central bank in a national fiat currency system. It formulates the governing framework, ensures system functionality, and promotes its application. For a detailed understanding of the Foundation's functioning, click here
  • The Foundation’s primary role is to enabling the creation of Curries. The inaugural Curry, the Redcurry, is underpinned by commercial real estate.

Structure and Governance

The Currynomics Foundation is a legally recognized entity, operating under the jurisdiction of the Republic of Austria. It is governed by the "Privatstiftungsgesetz" (Law on Private Foundations), which establishes a robust framework for its operation. Below are some key features of this framework:

Legal Status

  • Ownerless Legal Entities: Austrian Private Foundations are unique in that they are ownerless legal entities. This means that the management of the Currynomics Foundation is bound solely by its statutes, without any influence from shareholders.

Purpose and Objectives

  • Self-Defined Purpose: The law allows Foundations to define their own purpose. In line with this, the Currynomics Foundation is committed to preserving the Currynomics system. The board of directors is obligated to fulfill this mission at all times.

Flexibility in Statutes

  • Unchangeable Statutes: The Foundation's statutes can either be partially or entirely unchangeable. In the case of the Currynomics Foundation, its statutes are entirely unchangeable, as specified in the Foundation Deed and the Supplemental Foundation Deed.

Beneficiaries

  • No Mandatory Beneficiaries: The law permits Foundations to have no designated beneficiaries, which means there is no obligation for asset or money distribution. The Currynomics Foundation has identified a final beneficiary, who would only receive proceeds in the event of the Foundation's liquidation. This is conditional upon a prior buy-back of all Curry-related assets at their Net Asset Value.

Role and Responsibilities

Currynomics Foundation role is strictly supervisory. The Foundation's mission is to ensure that the Currynomics system meets its objectives. To this end, the board of directors is comprised of reputable individuals capable of effectively overseeing activities related to the system. Detailed election procedures for the board can be found in the Foundation Deed.

Non-Profit Operation

It's important to note that the Currynomics Foundation operates on a non-profit basis. Its primary aim is to ensure that no assets leave the Currynomics system, thereby keeping operational costs to a minimum.

Management Board​

The Currynomics Foundation Management Board's duty is to ensure adherence to the Foundation Deed. Given the Foundation's non-profit nature, the Management Board embodies the trust that future Curry users place in the Currynomics system. Therefore, board members are selected based on integrity, reliability, professional expertise, experience, and their dedication to expanding the Currynomics ecosystem.

At present, our primary focus is to establish a legally sound, stable structure and good governance practice for the ecosystem's future growth. As a result, most board members are seasoned legal professionals. The current members of the Management Board can be found here (link - TBD when activated).

Currynomics Labs: Founders and Technical Operators

Foundation

Currynomics Foundation's founders include Currynomics Labs OÜ, an Estonian LLC, and two private individuals, Kaspar Triebstock and Dejan Mansfeld-Rupnik, who are both partners in Currynomics Labs OÜ.

Responsibility

Currynomics Labs OÜ is responsible for developing the technical solutions required for enabling the Curry system as envisaged by the Currynomics Foundation. You can find the full team of Currynomics Labs OÜ here.

Supervision

Although Currynomics Labs isn't a beneficiary of the Currynomics system, it provides critical functions that enable the Foundation to focus on supervision and promoting the Curry concept.

Ongoing Developments

Stay tuned

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