• Market Cap
    $1,991.720B 0.08%
  • POW Market Cap
    $1,388.629B -1.12%
  • POS Market Cap
    $190.453B -2.07%
  • Masternodes Market Cap
    $5.769B -1.72%

Loki Foundation Achieves Registered Non-Profit Status in Australia

By Rafał - 2019-04-04

The Loki Foundation has gotten approval from the Australian authorities to operate as a non-profit organization following its registration with the Australian Charities and Not-for-profits Commission (ACNC). This effectively gives the organization registered charity status.
According to a release by the foundation, this bestows a high level of responsibility on the platform to ensure that it maintains the highest standards in its operations as it continues working on the project.
The information made available on the Loki website said that with the new status, Loki has gained the enviable status of becoming the first privacy software not-for-profit organization in Australia.
The prospect which was considered exciting for the team and community was stated to command higher expectations on the foundation in terms of transparency and governance.
The team stated that its priority would continue to entail supporting the growing community of Loki developers in the quest to build new technologies that would enhance digital privacy for users in Australia and other parts of the world.
The release said that the foundation would also continue working in cooperation with other bodies that have oversight functions over digital privacy such as Digital Rights Watch, the agency which advocates the protection of personal data by having them returned to the owners. This is based on the premise that the personal data is best protected when it isn’t stored by third parties.
The post highlighted the need to educate Australians and other internet users on the work being done to protect their privacy online. It stated that it would work based on the Assistance and Access Act of 2018 and other international laws that encourage digital privacy.
According to the foundation director and project lead, Simon Harman, the Loki community is working on building a platform that helps guarantee user privacy with the help of the ACNC governance structure.