XC was created to preserve individual liberty in response to an ever growing threat of privacy invasion. XC intends to bring the vision full circle with a mobile payment solution for the retail markets.
In a press release on xc-official.com, the XCurrency team made two major announcements for the coin and what it’s future will look like. First, the code for XCurrency will be going through a “bullet-proofing” to ensure its security. As per the press release, XCurrency’s code will be bullet-proofed via “…consultation with other security experts, specialist reviews, and public bounties for anyone who can provably break XC’s privacy.” As for the motivation for this exhaustive step, the report cites the need to establish public consensus on XCurrency’s security.
Also announced in the statement is the intent of the XCurrency core to create “…a closed corporation in the USA and [as] functionally equivalent entities in other regions of the globe;” entitled XC Inc. This entity will create apps and services that run on top of the XCurrency coin. Noted in the report, “XC Inc. will have no direct control over XCurrency’s code, but it will continue to extend its feaures and produce its reference software.”
To distribute the newly-formed XC Inc. to investors, it will take part in an initial token offering (ITO). XCurrency holders will be eligible to 1 share of XC Inc. for every ten XC coins owned. Note that there is no transfer or sale of coins for XC Inc. shares, only a proof of ownership is needed to receive shares. Those who do not own XC coin won’t be left out. They will, also, be given the option of simply buying shares of XC Inc.