St Penn Coin

White Paper

THE KINGDOM OF ST. PENN PROUDLY PRESENTS OUR TOKEN GENERATION EVENT 

The first two National Currencies from St. Penn’s Digital Central Bank

1. Introduction

The Kingdom of St. Penn (KSP) is a conglomerate of 6 islands located in the British Virgin Islands, where we have elected to take on a duty and responsibility for being the torchbearer to ‘The New Golden Age’. KSP will achieve this by embracing a high-tech architectural infrastructure, that also incorporates intelligent biophilic technology and other innovations. At the cornerstone of our ethos, we adopt the slogan of ‘working with and not against’, and in a time of adjustment and transformation, our mission is to become a shining example of reclamation and so ensure that our Utopian vision, is replicated throughout the world.

We are a private and peaceful Solidarity jurisdiction that will be involved in all aspects of infrastructural development including (but not limited to): renewable energy from solar, wind, hydro, geothermal and other new innovative sources. Simultaneously, we will establish an ecological community, that implements technology for an autonomous infrastructure, which is resistant to catastrophic weather and natural disasters. We also intend to apply advanced, organic agricultural and robotic technology and or agro-technology to optimise our production, improve our yield, our efficiency, and our profitability.

Additionally, we will facilitate the deployment of sophisticated revolutionary, ground-breaking, alternative health and wellbeing clinics and hospitals, pioneered with cutting edge science and technology. These will incorporate advanced knowledge of light and sound healing, as well as conventional, herbal and therapeutic methods.

With our constitution, the well-being of our sovereign citizens, coordinated and established treaties and trade partnerships with other sovereign regions, nations and states, all the amenities and necessities required for a fully functioning independent kingdom, our military defence, border security, airports, seaports and tourism, we will attain worldwide recognition and so be the shining example that we aspire to become.

Whilst expanding our global commercial enterprises and advocating social betterment for all living systems, we will also enable other nations, states, countries, cities and towns to join our sophisticated network, sharing good practise to address global issues.

official seal

2. Decentralized Bank

Role and Functions

For all intents and purposes, our decentralised bank, will perform all the functions of a central bank, with the main difference being that it will be built using trusted blockchain technology and will seek to undertake tasks for the betterment of mankind. However, the materialisation of our utopian, holistic, state of the art vision will require substantial on going investments to fuel our growth and economy. To all intents and purposes our decentralised bank will perform all the functions of a central bank. The latter will be built to ensure integration with smart phone, so that we can reach those in more impoverished nations that have been barred entry to traditional banking services.

Our first goal is the development of coded software programs for the monetisation of our assets. This software will be integrated onto our blockchain platform and so the generation of our asset backed digital currency can truly commence.

We appreciate that to operate efficiently, we need our decentralised bank ecosystem to:-

 –  Simplify transactions between enterprises and individuals analogous to online banking 

–  Implement KYC/AML protocols

 –  To Democratise banking services in emerging countries. For example, in cash-based rural economies, some citizens lack access to banking services. The use of our DBDC national currency units will remedy this issue (when paired with smart phones)

–  Remove the risks and cost associated with using intermediaries. As KSP is building a system that enables banking without the banks, this may avoid problems like the 2008 Financial Crisis or other unforeseen runs on banks.

Token Generation Event

A Token Generation Event (TGE) presents a means to an end, namely that it is a method for raising seed funding and so begins the goal of developing our nations’ “central” bank, on a decentralised platform.

Consequently, at this stage we are only issuing utility tokens on the Ethereum platform and albeit it can facilitate the development of a bank, as previously stated, we will build an independent platform.

3. What is the PECU?

The PECU is a digital currency developed, controlled, and managed by The Kingdom of St. Penn via the Pure Trust and government. The term ‘central bank digital currency’ (CBDC) is the digital currency that will be issued and overseen by the solidarity’s central bank. We are the first digital central bank with its own digital/fiat currency, the first in the world. As the decline of cash prevails, central banks throughout the world will be learning to use digital currencies. Forging the way forward, the PECU launches with two Coin denominations, with more to come. All currencies are tracked (not pegged) to the Pound Sterling giving us the flexibility to track other currencies for the benefit of us or to stand independently, in times of financial crisis around the world. The currency being issued is as follows: 

Sovereign Penn Digital Note –  SPDN

Sovereign Penn Digital Coin SPDC – 1 Trillion tokens: for bonds, bulk purchases, investments and digital-government bonds/instruments

Royal Penn Digital Note – RPDN

Royal Penn Digital Coin – RPDC – 100 million tokens: reserves

Execution of our plans has arrived in the form of rapidly advancing blockchain technology, digital technology. PECU is a digital currency developed, controlled, and managed by the government. This means, we can introduce our three notes & coins as the national currency for our Sovereign Solidarity ‘Kingdom of St. Penn’.

We are the first National Digital Currency in the world

Centuries ago when currencies such as the £GBP (British Pound Sterling) were created, they were backed by actual gold in weight and so had tangible value. Today however, national currencies are primarily fiat paper currencies, not backed by anything, accepted means of exchange, which were receipts. For example 10 pounds of gold receipt was exchanged as a promissory note to as ‘to pay the bearer on demand’, which is still on our paper money today. Hence, we now have £10 pound notes, which in its essence, is just a receipt. The Inconvenience of carrying the 10 pound weight of gold, gave us a receipt and if you took that paper instrument to the bank you could retrieve the gold.

Banking systems are set up to maintain national currencies by creating a safe place to store money and a liquidity provider for the currency markets. Banking systems have become so centralised, but now there are alternatives. In 2009 the world’s first cryptocurrency called Bitcoin was introduced by Satoshi Nakamoto. It created a virtual currency not backed by any asset. The note (aka tokens), were limited to 21 Million in total and is a currency built on a decentralised technology called blockchain. The blockchain is a permanent secure ledger of transactions, records and other data. The blockchain’s credibility is constantly maintained and verified by the network of users on the system. This peer-to-peer network allows the system to function and thrive outside of a central point of control.

The founders of the PECU are listed here 

4. common Law Pure Trust (cLPT)

We are the Sovereign Solidarity Nation of the Kingdom of St. Penn (“KSP”), whose constitution was ratified on 9th July 2020. Our Sovereign Certification is by way of a common Law Pure Trust Declaration. 

The Trust is Eleemosynary

The common Law Pure Trust originated just after the middle ages in the 12th century with King Henry II Plantagenet. Prior to this, the Catholic Church, owned about one third of the land in Western Europe and had control of most of the assets. Once Henry finagled some away, he established the cLPT with his new partner Lord Bauer, the progenitor of the present day Bauer-Rothschild family, the richest of the twelve polity or rich bank trading families. The cLPT provisions, the written rules of the trust, have had one hundred and four (104) revisions. The last three have been revised by a former Bauer-Rothschild attorney, Baron von Brauchitsch Bauer-Rothschild under the UCc bankruptcy laws of §1-308.

Henry and Lord Bauer made the first fidelity ceremony explained in Art. I of Rev. CIV provisions in circa 12th century providing the cLPT creation and execution. The Rothschild cLPT has been intact since that time.

However, the world has been under bankruptcy since the 1930 Geneva Convention.

Pure Trust Origin and Responsibilities

The provisions of the cLPT document certifies sight acknowledgement of individuals’ sovereignty and may be granted unto others as foundation trust peerage. Hereof, the Pure Trust is not a government social contract under constitution but will manage and control government whilst creating, approbating, accepting, recognizing and upholding generic and specific codes such as: Articles of Confederation (AoC), the common Law Principia (cLP), and the Universal common Law Codes (cLC). The Pure Trust will manage, control, and hold, in a fiduciary (trustee) manner, government licences, deeds, charters, allodial titles, bills of sale, and business documents, etc., conveyed unto it. Direct creation, management, licences, titles, liens, levies, deeds, vouchers, receipts, V.A.L.S, certificates, notes, letters, contracts, commercial paper, medium-of-exchange (cash and/or currency), certificates, notes both credit and debit (hereafter contracts), etc. Governments are created by the trust and designated as owners of all land and assets Governments then own the allodial title.

The Pure Trust does not own, but will manage and control privilege of use. In addition, the Pure trust may issue licences (through their created government vassals) and certificates as the public licences are generated through proper common Law Republic governments for a revenue source. These licences and private certificates are issued by the Pure Trust contract with written permission by tax group entities, i.e., banks, government departments (courts, committees, commissions, embassies, etc.), businesses, religious organizations etc., but no other Pure Trusts nor sovereign individuals (hereafter humans).

5. SMC

The Process of Sovereign Money Creation (SMC) and Digital currencies

Historically, a typical SMC process would be a Sovereign King and/or Queen (Monarchy) individual that is able to issue letters of credit, for maintaining the development, infrastructure and protection of the Kingdom thus granting the Mint/banker, the ability to create the money. The King/Queen would receive a typical 10% commission of the face value of the credit note or ‘original Deed’ (modern day letter of credit). It is as simple as that. Therefore, In Primary Banking Operation Secondary Banking laws and regulations do not apply. Local Government laws and Regulatory bodies including all statutory and legislative rulings of national and international governments and banks are suspended and thus do not apply to authentic Primary Banking operations, under and since the Geneva Convention of 1930. The Primary Market has to do with the creation of legal tender. This is done via proper letters of credits. In this context, the instrument itself is the source of the funds by proxy. In other words, a negotiable instrument, original draft is taken as a letter of credit, bank guarantee. As per the said Geneva Convention, all assumed local laws and regulatory bodies do not apply in Primary Banking operations and do not apply to Primary Markets and Trades. These Primary Banking process are instead governed by the Uniform Commercial code (“UCc”).

Basel 1, 2 & 3 codes do not apply here. All standard banking codes for that matter are not applicable here, regardless, of popular belief. Only UCc applies. UCc s.1 (general provisions) protects all Primary Banking operations against all the assumptions and presumptions of Secondary Banking laws; which as stated are suspended laws under the Geneva Convention 1930. In other words, all lower level banks that operate in the Secondary Market are conducting business in an insolvent capacity and under the bankruptcy provisions of the UCc s.1. A properly enacted foundation (a common Law Pure Trust) has the privilege of using Trust written instruments that include Allodial titles (proper original land titles), Plea in Bar and/or Nullification Act (Notice of Dishonour (UCc 3‐503) Letters of credit (money), Law suit (redress of grievance), Liens, (tax, land, personal, etc.), Letter of Rogatory (reciprocal response in any issue), and not excluding any other legal instrument including the creation of government, banks; their laws and all necessary entities thereof. Published in 1952, the UCc is the only real applicable law to sovereign individuals in banking and is the only applicable law in the Primary Banking Market. This is the key part to understand what backs the unique monetary system of St. Penn. As the Progenitor, the cLPT permits us the authority to create legal lawful live tender. In Ratiocination, we now enter the digital world giving us the ascendancy, authority and limpidity to establish a medium of exchange exponentialising afianchetto.

6. St. Penn Eco System

We are working toward establishing a state of the art, eco-friendly Kingdom, with worldwide recognition. The KSP ‘national digital currency’ and The KSP ecosystem offers sustainability, growth and  endeavours to support partakers to earn, spend, and save digital currency with simplicity, all done directly from their electronic device. That said, our accomplishments have not been achieved overnight. Instead, it has been a journey with the inherent battle scars, blood, sweat and tears that come with trying to positively impact our world. “whoever created our planet, God, the Big Bang, or anything in between, the bottom line is that each of us has been entrusted” and that is the trust. The objective of making our vision a reality for as many as possible in a new paradise on earth. So in all truth there is only the trust which we establish in its pristine purity.  

The notes & coins are asset backed by SMc, digital bonds, IBOEs, in ground assets and all trade, commerce and tourism pertaining to The KSP Central Bank.

7. Technology

In 2015, the likes of the Ethereum platform and most recently the PolkaDot platform have come to the market in the blockchain paradigm. The latter purports to have the capacity to perform 1,000,000 transactions per second. Neither of these is capped to a limit as in Bitcoin, simply because their capacity is limitless.

The cryptocurrency market has gained massive adoption due to the decentralised nature and market equality it brings. Additionally, digital currencies provide a secure digital way for people to store and trade value. These take the bitcoin decentralised blockchain technology to a level that today, can only be imagined. Current technology add-ons can also be applied to decentralised blockchains, such as DeFi, Dapps and Smart Contracts. Digital Data Asset Management tools also exist that ensure complete transparency for every single transaction. Now, pair this with our Sovereign solidarity status albeit there is no existing template that we can follow. We now know that we have the platform to digitally monetise our assets and introduce the first of our national currencies in the form of digital currency on a new digital exchange, NFTs & DAOs. Our financial capacity in the digital world will be more powerful than anything else on in the market. The beauty of this is simply that anything we say we have the authority to do, show and prove. The KSP central Bank has the ability to create other financial institutions, SMc, monetise assets, make loans, transfer funds, make purchases, etc. These are applications that allow add-on features to cover all aspects of a business model, such as building a nation, with its central bank and national currencies. Simply put, the terms of ANY and ALL contracts can be put into code form. Contracts are executed when all terms of the coded conditions are met.

Progress will be published in future publications. The bottom line is to raise funds for the purposes as set out within this document.

8. Risks

Regarding the Penn Coins 

Make note that all purchases of the coins can carry significant risks not limited to, examples as shown below. Prior to joining the token sale, you should carefully consider all the contents described in this white paper, and consult a lawyer, accountant, and/or tax professional if necessary, before determining the purchase of any Penn coins.

(a) The coins will be stored in third party Ethereum Wallet that supports ERC20, which can only be accessed with a password selected by the purchaser, and/or private (secret) key associated with the wallet account. Be sure to keep this information in a safe place, safely storing the password and other information in multiple locations and well separated from their usual location, or else it may lead to the loss of the coins and other digital currencies. If your password is cracked or learned by somebody else, it may also lead to the loss of the coins.

(b) The purchasers should be aware that the value of the coins may fluctuate markedly and be reduced in its value, or become worthless by the occurrence of any event of Force Majeure as of any other currency. This may include (but not limited to) the balance of supply and demand, currency market fluctuations, force majeure; acts of government or governmental authorities, compliance with law, regulations or orders, fire, storm, flood, or earthquake; war (declared or not), rebellion, revolution, or riots, delay or failure of delivery from related companies or persons, strike, or lockout and technical reasons.

(c) The coins will be issued on the Ethereum blockchain. As such, any malfunction of the ETH protocol may impact the purchasers’ ability to transfer or securely hold the coins, which may affect the value.

9. SVOT Analysis

Strengths 

To understand our position as Sovereigns is to truly understand the financial power that we can finally unleash. This is mainly because of the introduction of decentralised blockchains and applicable add-ons that allow for the digital monetisation and collagenisation of our assets.

  • We are the Sovereign Solidarity Nation of the Kingdom of St. Penn (“KSP”) with our own Digital Central Bank, with the mandate via the trust to operate in all aspects of governance and finance, with the ability to make our own laws, customs and traditions. Consequently, we have elected to utilise digital currency as our medium of exchange. Now that we have equal opportunity platforms upon which we can monetise our assets, albeit, the cryptocurrency market is a relatively recent phenomenon and currently the market hosts over 10,000 (ten thousand) different types of digital note/tokens, a handful of these note are asset backed and will include ours.
  • Initially, we will utilise tokens via the Ethereum platform, as we have not yet built our own platform for our KSP Note. Irrespective of this, the first of our tokens, representing our national currency will be the first in the world to represent a nation’s first national currency and be asset backed.
  • This will be the first of many initiatives to fuel our economy and so ensure we build a stable economic and sustainable nation for generations to come.
  • By selecting the Ethereum platform, we can engage in Smart Contracts. Simply put, by writing the conditions into code for all transactions, the middlemen with inherent costs, are immediately eliminated. The positive ramifications of this are ground breaking.
  • Our geographical coordinates are in a popular tropical and exotic locale.
  • We will deploy a holistic approach that focuses on our wellbeing we will utilise the latest and best environmentally friendly technology, etc.
  • Peer to peer token transactions opens up new markets.

Vulnerabilities 

Success for meeting our objectives, for long term development is a concentrated media driven marketing campaign. Age, creed, ethnicity etc., are not barriers to entry.

  • Most ICO’s are merely seeking capital to meet a proposed objective. The marketplace will need to understand that these coins are the first and the ONLY one of its kind. Consequently, it may not be attractive to short term investors. 

Opportunity 

This section describes how our initial National State Kingdom of St. Penn – KSP NOTE© – PRPC©, SVPC© and RYPC© tokens, can be obtained. The document summarises the purpose of each of our currencies and how they are designed to be used for various services to be provided to the Kingdom of St. Penn. Please note that PRPC, SVPC and RYPC are not intended to constitute securities in any jurisdiction, nor, in any terms, is this white paper to be construed as a solicitation for investment or a collective investment scheme. This white paper and/or token sales do not pertain in any way to an offering of securities in any jurisdiction. Purchasers are advised to read this document in full and if necessary, to seek advice from lawyers, accountants, and tax practitioners. Purchases of PRPC, SVPC and RYPC, made by the purchasers are final and non-refundable, so anyone that would like to participate in the token sales should carefully weigh the risks, costs, advantages and disadvantages of acquiring PRPC, SVPC and RYPC.

Know Your Customer and Anti Money Laundry

All purchasers of the Penn Note will undergo a complete KYC and AML vetting process. This is in line with local and international concurrent laws and regulations. This will include photo identification and address location verification processes.

Limitation of the purchasers at this stage

A citizen or resident (tax or otherwise) of any country or state where purchase of PRPC, SVPC and RYPC or similar digital currencies may be prohibited, or the token sales itself is deemed to be not compliant with the applicable laws and regulations, are not eligible to purchase PRPC, SVPC and RYPC via its token sale. Please note that if you are a resident of People’s Republic of China, The United States and Japan, you will not be able to purchase PRPC, SVPC and RYPC through the token sale.

At this stage, a citizen or resident (tax or otherwise) of any country or region where purchase of PRPC, SVPC and RYPC or similar digital currencies which contain the future possibility of gambling or unjustified sales promotion premium related usages may be prohibited and are not eligible to purchase PRPC, SVPC and RYPC via its token sale. And if PRPC, SVPC and RYPC token/note detects any purchase from a country or state where the purchase of PRPC, SVPC and RYPC or similar digital currencies are prohibited after purchase, the same amount of Bitcoin or Ethereum at the time of purchase will be refunded, and the purchaser is deemed to agree with that procedure. Purchasers of PRPC, SVPC and RYPC should have a functional understanding of any mechanisms related to other digital currencies. PRPC, SVPC and RYPC or any related entities officers and employees thereof will not be responsible in any way for loss of any digital currency, including PRPC, SVPC and RYPC, and/or fiat currency resulting from actions taken by, or omissions of the purchasers. Please refrain from purchasing PRPC, SVPC and RYPC or participating in the token sale of PRPC, SVPC and RYPC if you do not have required experience or expertise. Purchasers of PRPC, SVPC and RYPC should carefully consider the risks and other demerits of joining the token sale and acquiring PRPC, SVPC and RYPC, and if necessary, obtain needed advice in this regard. You should not acquire PRPC, SVPC and RYPC until you have received necessary advices, if you cannot accept or understand the risks associated with this token sale of PRPC, SVPC and RYPC (including the risks associated with non-development of Kingdom of St. Penn National Currency Note Platform) and other risks mentioned in the following clauses and/or within this white paper.

Threats 

Resistance in subtle and not so subtle forms, from any world territory economy that utilises a fiat system, are considered threats. This seems to be inevitable as cryptocurrency fraud has already attracted a lot of attention. According to the Federal Trade Commission’s Consumer Sentinel, from October 2020 through to March 2021, scammers have already defrauded some £60 Million Pounds. This suggests that there will be a push for regulatory bodies to monitor digital currency. We intend to combat this by ensuring that we establish a system that is compliant with all concurrent applicable laws.

Blockchain technology is a relatively new technological innovation. However, with the recent surge of Fintech companies, new digital cryptographic technology is being brought to the market at a rapid pace. Currently, quantum cloud computing is moving forward in leaps and bounds to rival blockchain. Its major advantage is that it is millions of times faster than computers. Consequently, we need to ensure that we establish systems that are able to migrate to other platforms.

10. Disclaimer

To the maximum extent permitted by the applicable laws, regulations and rules, any entities of The Kingdom of St. Penn and officers and employees thereof shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this white paper or any part thereof by you. Any entities of The Kingdom of St. Penn and officers, employees thereof shall not be liable for any case including but not limited to their failure to maintain or backup an accurate record of their password or password cracking by somebody due to their poor maintenance of their password after it is transferred to the purchasers. Regulatory authorities are carefully scrutinising businesses and operations associated with digital currencies. Therefore, regulatory measures, investigations or actions may impact the Kingdom of St. Penn’s business and may limit or prevent it from developing its operations in the future. Any person undertaking to acquire PRPC, SVPC or RYPC must be aware that our business model relies on making these digital token/note, the first of our national currency.

11. Territories of St. Penn

Our geographical coordinates are in a popular tropical and exotic locale.

The Kingdom of St. Penn and Its Sovereign Lands and Territories include:

  • Great Camanoe – 600 acres – 18°28′30″N 64°31′55″W
  • Little Camanoe – 150 acres – 18.4589°N 64.5427°W
  • Marina Cay – 8 acres – 18°27′39.7″N 64°31′30.93″W
  • George Dog – 15 acres – 18.4928°N 64.4571°W
  • Great Dog – 98 acres – 18.4829°N 64.4573°W
  • West Dog – 27 acres – 18.5068°N 64.4346°W.
  • Other private territories of the Kingdom of St. Penn include:
  • The Hermitage (block 3539B, Parcels 103 and 112)
  • Balsam Ghut Estate (Parcel 3441A)
  • Old Plantation Estate (block 3440B, Parcel 4)
  • East End (block 3440B, Parcel 39) – (block 3740A, Parcel 4)
  • Long Look (block 3439B, Parcel 105) – (block 3339B, Parcel 23).
  • Kingdom of St. Penn territory composite size: 1245 acres (504 hectares)(2 sq miles approx).

11. Conclusion

Know for a surety, that the Kingdom of St. Penn via and by way of the cLPT, fully intend to shape the greatest modern and futuristic, eco-friendly, solidarity kingdom on planet Earth, whilst honouring and respecting natural nature in its pristine purity. The Kingdom of St. Penn will be ushering in their part of a Golden Age, a new era.  We live by the Principle of ‘Do No Harm’ with prepotency, perspicacity and erudition in juxtaposition with First Republic Registrar Foundation, Sovereign International Court of Justice and the Sovereign International Criminal Court, co-habiting with bilateral and geo-political treaties into the highest level of existence.

A resource-based economy is preponderant and in contiguity with a zero carbon footprint, which limits emissions, global warming and which in turn will generate a compatible, integrated, balanced healthcare system. Implementing natural and alternative health therapies and utilising state of the art technologies, will qualify, validate The Kingdom of St. Penn to initiate safe and holistic health and well-being for all our inhabitants, whilst simultaneously fashioning a perfect symbiosis and equilibrium with natural nature. Equally, our security and comfort, involves the construction of autonomous family homes, thriving communities and securing preparedness for natural disasters. Subsequently, we will construct resilient, self-sustainable, self-sufficient, protected structures that are resistant to natural disasters and built with renewable electricity, clean water and sewage treatment. Fundamentally and due to the patterns of nature, a direct interrelationship with our first responders and our armed forces during the occurrence of misfortune is first and foremost and safeguards our population and our land and sea food production.

We are at the forefront of ushering in the aforesaid ‘Golden Age’, a utopia, a paradise, where the youth are championed and the vulnerable are supported and where positive, universal growth of the mind, body and soul are elevated and celebrated. Taking advantage of renewable and free energy systems, we will enable all peoples to come together and be at the epicentre to participate in this St. Penn token opportunity.

By way of the Declaration of Human Rights 1-30, we will embrace all indigenous peoples of the world, aiding and facilitating in building a better, safer planet for all of humanity and future generations. Our social order will be inclusive, tolerant of people from all nations, races, creeds, colours, ethnicities and religions, striving for stability, freedom, harmony and balance with each other and the people of planet Earth.

Walk with us. Together we can make and create our own story.