Simple: Because we feel that these processes benefit everyone by keeping things transparent, open, verified, and safe.
AML requirements help to insure that our valued members are not sharing spaces and vehicles with organized criminals,
and KYC validation allows us to comply with rapidly emerging national restrictions in such locations as the EU and the U.S.
In fact, while we do not agree that BXTC tokens represent a security as they carry no voting rights and offer no possibility of profits or distributions from the club, BLOXOTIC has still decided to comply with the investor restrictions spelled out in the U.S. SEC’s Regulation D, Section 506c. governing unregistered private placement offerings.
As such, participation in the BLOXOTIC ICO is, for U.S. citizens and residents, limited to Accredited Investors (see here for rules), SORRY.
But don’t worry!! That is why we also created the an alternative for Americans who don’t happen to be rich!
Enter the BXTZ, non-tradable, internal-use-only crypto-token.
BXTZ tokens are not crypto-currency tokens and hold no value outside of the Bloxotic Supercar Collective. They can be used only to purchase goods and services within the club and will never be traded on any exchange outside of the club and will always carry a value of U.S. $0.50. They do, however, confer membership and work the same as BXTC tokens for rentals and other Bloxotic services.
Think of them more like the real-world physical tokens that you might purchase at an arcade or other entertainment facility. They can be used to buy everything in-house, but have absolutely no value outside of the arcade.
In either case your BXTC or BXTZ tokens are the keys to everything BLOXOTIC. Only token holders will have access to the cars, the galleries or the events and those tokens will be the only currency accepted for goods and services within the club. No cash. No credit. No exceptions.
Whether you begin with BXTC or BXTZ tokens… The supercar lifestyle is now within reach.