With the ambitious plan to leverage ecozones in empowering Blockchain technology worldwide, Oz Finance takes to the stage to showcase the power of special economic zones enabled through DLT-tech
Represented by Vincent Choy, the ecosystem architect of Oz, the presentation began with a review of the progress (or lack thereof) that Blockchain had with respect to the earliest promises of a total economic revolution.
The entire industry has been brought down by poor regulations, a lack of true freedom and privacy. Mainly, the chief complaint of every single person about Blockchain projects is the argument that it is disconnected from the real world.
Pointing out the space between the objective world and the current generation of Blockchain projects, Choy noted that Oz Finance planned to bridge the gap through one of the most prominent pillars of global innovation; Special Economic Zones aka “ecozones.”
SECs are zones geographically delimited areas designated by governments with the presence of economic and industrial incentives as well as a broad array of regulatory leniencies. These areas act as both petri dishes for regulatory experimentation as well as regions of economic growth, often setting the stage for economic policy in the rest of the nation. Historically, SECs have acted as bellwethers for the near future of a nation’s approach to experimental policies or technologies.
Normally State-backed projects, Oz Finance has taken the initiative in partnering with these innovative ecosystems.
We bring capital, infrastructure, community and enterprise to an ecozone in exchange for three things; residency benefits, tax-free living and clear regulations on what can and cannot be done in the digital world. This is what the ecozone would look like.
Pioneering and ambitious in scope, Oz has already succeeded in its pilot program. Partnering with the Freeport Area of Bataan in the Philippines, holders of Oz’s token enjoyed tax-free living, privacy protection and regulatory cover merely by staking it.
The Freeport Area of Bataan is a 17 square kilometer city located at the top of Bataan near to the capital of Manila. It’s the first open zone to recognize us and, so doing, offer our token holders all these benefits.
Having elaborated on the benefits of holding the token, Choy then zoomed out to explain the broader strategy and the potential gain for an interconnected global community of ecozone members.
It’s about asset mobility, we have two main packages and individual residency as well as the local operations business operations packages. All you need to do is purchase the token and stick it in the wallet and you have residency in the country.
Compared to traditional forms of residency, which are mainly tied to research, liquidity and mobility through Oz Finance’s residency protocols are much more streamlined and efficient.
If you’re not happy, you unstick the tokens and sell. Other countries require that you buy real estate. That means that leaving involves selling your real estate and having to engage lawyers, audit your taxes etc etc…this is true asset mobility.
Moving onwards to some very exciting projects, Choy elaborated on the nascent Oz DAO and the power it gave to token holders. By holding a stake in the ecosystem, participants had a genuine say on how the economic rights of the city would take shape. This would even include real estate located in the ecozone.
When we build a city and sell a part of the land to, let’s say, a hotel developer to develop a hotel, the revenue from the sale goes into the DAO treasury which is owned by everyone who hosts a token… How does a city grow? By inviting more investors and residences leading to real estate prices rising. This means that the revenue is shared by everyone who is a resident of the city.
Quite literally bringing the DeFi world and the urbanized world together, Oz Finance might be the one to forge the foundation for an international decentralized network of entrepreneurs and innovators. With plans in motion to expand to 10 other countries in the near future, the Emerald City might be just over the horizon.
AIBC Americas debuts in Toronto:
Following the massive success that was AIBC Asia, the Summit’s first ever physical debut in the Americas is set to take Toronto by storm this June. Uniting the best and brightest in the emerging tech world, AIBC Americas will feature leading policy makers, executives, technologists and visionaries in groundbreaking areas such as AI, Blockchain and Quantum Computing. The Summit will be composed of three days of thought-leading panels, inspiring keynotes and a massive amount of opportunities to network, leaving our delegates several steps closer to the Fourth Industrial Revolution.
Join us from the 6th till the 9th of June in Toronto!