We are an EOS Block Producer Candidate that will help coin holders by subsidizing tax payments from EOS.
EOS Block Producers may generate a significant amount of revenue. We will use the majority of our funds to bring something unique to the EOS community that we hope will make EOS more valuable and attractive to investors. We want to help individuals and businesses pay taxes originating from EOS.
In order to achieve our goals, we will first use the funds to pay for the costs of being an effective and reliable block producer. Seventy-five percent (75%) of the remaining funds will be allocated for the tax relief initiative. This is going to be challenging as we will have to hire tax accountants and other employees in many countries to validate the tax subsidy requests. The tax subsidy payments will NOT be in the form of a cash payment. Instead, you will receive a dollar value that you must invest in an EOS Decentralized Application (dapp) from a pre-vetted list of companies. Your investment will provide tokens that we will distribute in your wallet.
We are still formalizing what the reimbursement and investment process will look like. Most likely, we will not be able to pay the full EOS tax bill submitted for reimbursement. However, we are hoping to subsidize a portion of the request based on the number of tax relief submissions and the funds available for a prorated disbursement.
The other remaining twenty-five percent (25%) will be given to the Launch Team, Advisors, and our Community Supporters. EOS Tax Relief will be completely transparent and we will publish independent audits conducted by a trusted third party.
In theory, EOS Tax Relief will enable taxpayers to become an EOS Venture Capitalist (VC). You will be able to view live VC styled pitches from the founders of each company and pick the project/s that you would like to invest in. After each pitch, you will be able to ask the entrepreneurs questions like any other VC. If you miss the live pitch, you can review the videos and the documentation online at your convenience. To protect investors, we will issue the funds to each company in tranches to ensure the founders hit their milestones on their roadmap.
We believe this model will enable us to return value to the EOS taxpayer while reinvesting in EOS and growing the overall ecosystem. As for the entrepreneurs, EOS Tax Relief will provide an additional incentive to building their Dapps on EOS. In addition to the funding, EOS Tax Relief will provide an enormous platform that entrepreneurs can leverage to introduce their project and company to a global community. This process will be exciting and beneficial for all parties involved. For those who have always wanted to be a Venture Capitalist, come join us. Please consider voting for EOS Tax Relief as a block producer so we can turn this concept into reality.
Website: https://eostaxrelief.com
Block Producer name: EOS Tax Relief
Headquarters: Ashburn, VA, USA
Expected location of Servers: Ashburn, VA, USA and India
Type of Severs: Cloud
We will build our servers with industry-leading hardware that is outfitted with multiple power feeds, fiber links, dedicated generators, and battery backup. Redundant n+1 power and cooling resources are regularly inspected to guarantee stability. If elected, we will also consider bare metal servers.
Current Employees and Background:
Swaptak Das (Das)
Das has been a successful entrepreneur for over 17 years. He has started several software companies including Dasdak.com and GameTimeConcepts.com. He has also owned a lounge in Washington DC, called Shadow Room. He is uniquely qualified to scale and grow this company as it will require a significant amount of infrastructure to responsibly disburse the EOS tax subsidies in multiple countries. He is married with 2 boys. He spends most of his free time with his family, but also enjoys basketball, tennis, and watching movies.
Abhinav Kumar
Abhinav is a Computer Scientist with more than 12 years of experience in the industry. He has been managing and executing large-scale, mission-critical, and high availability web projects for a number of large companies. Abhinav has managed a large team of developers and database specialists for over 5 years. He has managed teams in various companies with complex server and security requirements for both cloud and on-premise infrastructures. Abhinav has hands-on experience working with the largest cloud infrastructure providers such as AWS, Rackspace, and GCP. He is married to his high school sweetheart who is currently finishing up her medical residency in India. In his free time, he enjoys spending time with his dog, Sybil, and riding his motorcycle.
Tech Specs:
TestNet
For the testnet, we are starting with a Cloud only architecture solely for the flexibility, geographic diversity, scalability, and ease of management. Our initial testnet node is comprised of:
CPU: Intel Skylake4 vCPUs
Memory: 15 GB
Storage: SSD
Scaling Plan: If we are elected as a block producer, our first priority would be to invest in the best people and solutions to be an effective and reliable block producer. This requirement will change over time as we better understand the requirements of the network and security. We will scale the servers as required and we will begin with one or two servers:
CPU: Dual Intel Xeon E5 2630v4
Memory: 64 GB DDR4
Up to 10Gbps maximum Port Speeds
Redundant Power Supplies
As we have committed to an independent audit, we will be fully transparent with the use of our funds. For security reasons, we will not publish our designs.
Community Benefits: The genesis of our concept for EOS Tax Relief is to give back to the community. The community will benefit from:
a. A professional and reliable block producer
b. Turning the miserable experience of paying taxes into a process that could be profitable. EOS Tax Relief will enable businesses and individuals to get reimbursed for their EOS tax bill paid to the government
c. Having the ability to become a Venture Capitalist and invest in companies that are building EOS Dapps
d. A transparent block producer who has committed to an independent audit by a trusted third party
Telegram & Testnet: Our test node is live and creating blocks. The API can be accessed at: https://testnet.eostaxrelief.com/v1/chain/get_info
We have successfully joined the http://eosio.sg/ testnet and we are in the process of joining the Jungle and the Scholar testnet.
Telegram: @eostaxrelief Steem: eostaxrelief
Block Producer Candidate Roadmap: If elected, our first priority would be to focus on providing the best infrastructure and hiring the most qualified team to help us be a reliable block producer. We are communicating, getting to know, and following a number of talented BP community members who we hope to recruit to our team in the unlikely event they are not elected as a block producer. There are a lot of talented BP candidates that have already contributed so much to the community and also helped us along the way. We would hate to see those great individuals left out, so we would love to add them to our team.
Once we are confident we are meeting the network requirements, we plan to hire an accountant to track our revenues and expenses to help us comply with our audit commitment. Next, we will hire tax consultants from various countries to understand the process and documentation we will need to validate EOS tax reimbursement requests. Once we have the requirements from the consultants, we will begin coding https//:eostaxrelief.com to accept tax reimbursement requests. As we are building the system, we will begin hiring employees who will validate the EOS tax payer’s documentation submitted online. If possible, we plan to hire from countries such as Central America, India, and Africa where cryptocurrencies can really have an enormous impact on people’s lives. We hope to educate our employees (and their families) on cryptocurrencies and help the unbanked communities build a new future.
Position on Dividends: We struggled with this question for a long time before we announced our block producer candidacy. We felt as though block producers could generate an enormous amount of revenue, depending on the price of EOS. We believe the majority of those funds need to go back to help build EOS and the community. But how do we do that responsibly? One of our team members passionately believes that we should write a check directly back to EOS coin holders for their approved tax reimbursement.
In the end, we decided not to make direct reimbursement payments due to concerns of vote buying. We feel that if block producers that provide direct dividends back to their token holders who voted for them are elected, it will be a quick race to the bottom to see who can return the most revenues. In this scenario, block producer candidates may cut corners on the network infrastructure or hiring the best talent in order to return the maximum dividends back to their voters/token holders. We do not think the community would allow this to happen as this would have a devastating impact on EOS.
Therefore, we decided to give EOS coin holders the ability to get their tax reimbursement. However, they will be required to invest those funds into a new Dapp/s that is building on EOS. In return, the tax payer will get the Dapp’s tokens deposited into their wallet. This enables EOS Tax Relief to:
Share the block producer revenue with the whole EOS community, not just who voted for us.
Add value to EOS coin holders/tax payers.
Allow EOS coin holders to invest in a pre-vetted list of EOS Dapps; thus, turning a painful tax experience into an investment opportunity in the EOS ecosystem.
Potentially return more value to the tax payer (assuming their Dapp investments do well) than their initial tax reimbursement request.
Give EOS Dapp entrepreneurs an additional source of funding and a platform to announce their project.
Hire employees in communities such as India, Central America, and Africa, that can really benefit from crypto currencies.
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