To contribute to Kommune, Members will need to go through accredited investor, anti-money laundering ("AML"), Know Your Customer ("KYC"), and Office of Foreign Assets Control ("OFAC") checks as defined under U.S. law and as discussed further below. A joining Member will need to deposita sufficient amount of contribution from the Member's address in orderto complete the membership process.
A Member will also need to submit sufficient informationto verify the potential member's identity for AML, KYC,and OFAC checks, including:
Uploading a passport or a state issued license
Providing a social security number or Tax ID
Providing proof of the member's primary residence
There are too many laws that sometimes contradict each other and often don't achieve initial goals. Since we have too many laws, they cannot apply equally and an enforcer applies them very selectively. It leads to inconsistency and vagueness in law enforcement practice.
Relying on technological tools and code-based rules as a means to regulate society brings about a variety of benefits, mostly related to the ability to automate the law and to enforce rules and regulations a priori, i.e. before the fact. It removes colossal costs from human society.
Accredited investors include:
Individuals who have a net worth that exceeds $1 million (excluding the individual's primary residence)
Individuals who have an annual income exceeding $200K or a married couple that has joint income exceeding $300K in the two most recent years and have a reasonable expectation of reaching the same income level this year.