SatoshiLabs launches Vexl Foundation offering P2P Bitcoin app without KYC and Financial Tyranny Index.
SatoshiLabs, the company behind the Trezor hardware wallet, has announced the launch of the Vexl Foundation during the BTC Prague conference. According to a press release shared with Bitcoin Magazine, the foundation’s goal is to give individuals back their financial power and promote personal and financial freedoms. The Vexl Foundation takes a critical stance against KYC practices and believes that technology should empower individuals instead of controlling them.
The Vexl Foundation has also created the Financial Tyranny Index (FTI), which measures the level of statist interventions in the financial sector. Initial findings 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 app, Vexl, which provides a private and secure platform for peer-to-peer Bitcoin transactions without KYC or institutional interference. Lea Petrášová, CEO of Vexl.it, describes the app as more than just an application, stating that “It’s the embodiment of our vision for financial autonomy.”
The board of the Vexl Foundation is made up of individuals with diverse experiences, including Lea Petrášová, Josef Tětek, and Grafton Clark, as well as SatoshiLabs Co-founders Marek Palatinus and Pavol Rusnák. The foundation’s goal is to challenge the centralization of control and direct power back to individuals.
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The foundation welcomes collaboration 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 inspire a shift in the perception and interaction with digital finance.
Marek Slush Palatinus emphasized the need to revisit 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.
