Thore Network #QuerySeries 1/3

Thore Network has collected some of the most common questions asked throughout our many social media platforms (Slack, email, Discord, Twitter, etc…). In this Series we will highlight 5 frequently asked Queries

Query 1 Project is delayed

General Perception is THXChain Project is Delayed

#FactChek

THXCHAIN belongs to #Mainnet2020 and its ON from 2018 September as the Name suggest we decided shift to Our Mainnet in 2020 Only Near Bitcoin Halving

Thore Network Action

DEC 17 https://medium.com/@Thorenetwork/thxchain-intro-bc21b2c3584a

On January 10, the changes introduced by the European Union’s fifth Money Laundering Directive (MLD5) became operational. AMLD5 came into force on July 9, 2018, but member states had until January 10 to transpose these changes into national law.

Jan 29 Thore Network Mainnet2020 Agenda is Mix of Traditional Financial system+ Digital Assets & For that we Initiated Registration with Local regulator (Germany) & KYC According to New AMLD5

THXChain Portal Live https://thxchain.com/ 13 Feb 2020

24 FEB KYC Process begin

Everything Going According to our schedule Ahead of time

6–9 March KYC Process started

12 March COVID 19 Lockdown Travel ban started Our Update

We all aware CoronaVirus & its Impact Our KYC 3rd party Provider is EU Based only (Cyprus & Swiss) & at this moment we are going as per Pre defined schedule 15 March 2020–30 March 2020 but as we can see Many offices & organisation decided to shut operations and work from Home. stay home as the risk of contracting the novel coronavirus increases anywhere there are gatherings of people so if our KYC & legal partners decided to take break from work we have to wait for KYC approval and rest process & process can be delayed further — Be Prepare

The spread of the novel coronavirus (COVID-19) is affecting lives and businesses worldwide. Here at Thore Network, we are adapting ourselves to the changing times too

Our Local Regulator Registration is pending — IN lockdown only essential services active

Ongoing KYC & Fiat Lending Platform setup Pending for the same Reason+ THXChain SWAP without Custodian wallet license is Invalid & we cannot allow this

fiat onboarding continues to remain hindered by the concentration of users in the hands of a few major exchange players. Underbanked people that rely on payments rails (e.g., PayPal, prepaid debit cards, etc.) not directly integrated with the commercial banking system are left with few options, and P2P exchanges are rare — Our #Mainnet2020 THXChain TCH is going to solve this We already initiated partnership with Private institutions for Fiat lending using TCHTHXChain Token But again due to COVID 19 Lockdown we have to wait

COVID19 is A sudden global catastrophe & at this stage we can Only WAIT — process is already initiated and we cannot change whatever it takes As the world progresses and fights back against the pandemic Thore Network will finish Pending work & start SWAP

Conclusion

THXCHAIN project is not delayed at all its moving ahead of time Thanks to a fully digital and centralized way of doing business, Thore Network have been adapting rapidly to these changes, shifting to fully remote operations without losing productivity. The only exception is the KYC+ License Process: all major events scheduled for the first half of 2020 were cancelled or postponed

30 may 2020 is Next review date