Why is Blackwave cancelling it’s token sale
First of all, we want to thank everyone who have been interested in what we do at Blackwave and followed our journey towards making a private and secure messaging application. Unfortunately, although we think the token sale we planned would have been a success, we decided not to make it and we wanted to give the reasons why.
We have always expressed our wish to be compliant with the law. Blackwave Ltd is based in Malta, a country with a respected regulator in which token sales are legal and regulated. However, Blackwave has always been focused on its products and services and not on the token sale. We want our application to be successful and used in many countries. Unfortunately, even if we don’t sell tokens in some countries, the token sale could be an obstacle in being able to offer our application in such countries in the future.
Moreover, we want to work with individuals but not only. Companies and governments are a big opportunity as they understand the importance of security and have the means to compare and select the best solution. But we think they want legal clarity. Unfortunately, even if a token sale is fully legal and compliant, there is a high level of legal uncertainty on tokens in some jurisdictions that could result in them not wanting to use Blackwave.
Finally, we invested a lot of time, effort and money in this project and will continue to work towards making Blackwave Messenger. This is not the end of Blackwave, we strongly believe in the importance of security and privacy and hope to bring you Blackwave Messenger in the near future. We think that not making this token sale will make Blackwave stronger.
The Blackwave Team.