SatoshiLabs Introduces Vexl Foundation With KYC-Free P2P Bitcoin App And Financial Tyranny Index
Satoshi LabsTrezor hardware wallet creator announced the launch of the Vexl Foundation at the BTC Prague conference. A press release shared with Bitcoin Magazine stated that the foundation aims to restore financial power to individuals and advance personal and financial freedom. He takes a critical stance against KYC practices and, according to the release, believes technology should empower rather than control people.
The Vexl Foundation also filed a Financial authoritarianism index (FTI), which measures the extent of state interventions in the financial space. Preliminary findings, according to Vexl, reveal high levels of financial state control in Western democracies such as France, Belgium, Canada and the Netherlands.
The Vexl Foundation’s mission is supported by its mobile application, moodiness, which provides a private and secure platform for peer-to-peer Bitcoin transactions without KYC or institutional intervention. Lea Petrášová, CEO of Vexl.it, describes it as more than just an app, saying: “It is the embodiment of our vision of financial independence.”
The Vexl Foundation’s Board of Directors is made up of individuals with diverse experience, including Lea Petrášová, Josef Tětek, and Grafton Clark, as well as SatoshiLabs founders Marek Palatinos and Pavol Rusnak. The statement stated that they are dedicated to challenging the centralization of control and directing power back to individuals.
The Foundation said it welcomes cooperation with organizations and individuals who share the vision of a free and open financial world. With donations and guidance from SatoshiLabs, the Vexl Foundation aims to transform perception and interaction with digital finance.
Marek Slach-Palatinos stressed the need to re-examine the principles on which Bitcoin was founded, stating, “The Vexl Foundation is our step towards that change.”
To learn more about the Vexl Foundation and its initiatives, interested parties are encouraged to visit their website at https://vexl.foundation.
