The first Fenomy Foundation co-founders meeting

The Fenomy Foundation is an international organization that is being established to further the development of the Fenomy ecosystem and other connected technologies. It is being founded by the creators of the Fenomy System, as well as co-founded by long-term investors.

In this article, we will explore the main provisions, requirements to become a co-founder and other goals of the Foundation.

Main provisions

1.  The organization that we create becomes the sole owner of the project, including all property, assets, intellectual property, technology. Everything there is now and everything that will come.
2. The main goals of the organization are to contribute to the development of the Fenomy ecosystem, to implement the principles of a decentralized management.The main goals of the organization are to contribute to the development of the Fenomy ecosystem, to implement the principles of a decentralized management.
3. The international brand Fenomy is registered by the organization. All patents that need to be issued are also issued to the organization.
4. The organization is created traditionally in any jurisdiction that abides by international law.
5. In the future, no one, except people or organizations authorized by the Board of Founders, can officially represent the project, declare something on behalf of the project, conclude or termite agreements. All decisions of the Board of Founders are public, and we will talk about this in depth later on.
6. All agreements on cooperation, partnership, agreements with contractors, investment agreements, are accepted only based on a collegian decision of the founders through a voting procedure. How this will take place, under what conditions etc. will be a discussion later.
7. The founders of the organization own the organization's share, proportionally their contribution.

Requirements to become a co-founder:

1. The only material requirement is ownership of sufficient project assets.
2. The main requirement for a non-investor is a significant long term and recognized contribution to the development of the project.
3. Intangible requirements – being in agreement with the goals of the project and readiness to participate in project development.

Decision-making procedures:

Management mechanisms are developing as a separate component of the ecosystem using the Fenomy blockchain.

Anyone who meets the requirements, including reputation and balance, can create events and vote.

1. Questions/Documents/Proposals/Appointments/Strategies all be put up to a vote. Only participants with a certain reputation, Founders, can create this type of entry in the blockchain. If necessary, a meeting may be requested to discuss the issue further.
2. Other participants who have the access to that this type of transaction can cast their vote “For” or “Against.”
3.  Every vote is a matter of public record and recorded on the blockchain.
4.  A member may have the wight of more than 1 vote. This depends on the role that member plays in the project, over all balance and investment sum.
5. A decision shall be deemed approved if the majority of the total number of eligible participants votes are in favor.

Priorities

The Development process can be successful if the main priorities are approached in a specific manner. There are components that are the most important for the entire ecosystem and the implementation of partner projects. Until the work is completed in these arias, other development will not be possible.

The components are:

• Router
• Streaming component
• Groups
• Incident control Center
• Blockchain
• Partnerships

We are focused on gaining partnership agreements with those organizations that will help develop our main tools and where it will be possible to apply the capabilities of the system in real conditions and expand the reach of users and help communities around the world.

*All legal issues are being handled by one of the leading legal companies in the industry with tremendous experience in international law. We have already signed a contract with them for ongoing service and be the companies legal advisors. Documentation is sill in the preliminary stages.