We would open up ourselves to more litigation risk, by having too many options, the scenario of "it wasn't clear" is a much stronger case when you have multiple and varying options. With just two options it is clear cut.

A pegged wallet provides access to the Bitcoin protocol for use as a medium of exchange, with the benefits of Bitcoin being felt through the inability of a central authority putting their hands into your wallet to take everything out against your will. This also provides a stable platform to enable commerce to occur, the benefits to the merchants accepting Bitcoin payments are speed and cost savings.

A BTC wallet provides all the aspects of the Bitcoin protocol with all increases and decreases felt by the customer, we receive the exchange fee, which will be similar to one of the traditional exchanges.

Time Based Wallets, hoard the coins for an agreed period of time and in return for the protection against negative movements and you get a percentage of any growth.

We are also adding the additional services such as international remittance, we are currently working towards having in excess of 1 million locations worldwide at the time of launch, where we can transmit the Bitcoin across the globe to these agents and the end user can walk away with the Government Fiat in their local jurisdiction, the transmission will be completed with Bitcoin instead of the slow banking systems currently used. The benefits of using Bitcoin for this process can reduce the costs in comparison to the traditional operators in this space.

We are also going to be making progress in relation to branded insurance products through a third party carrier from the beginning of November onwards, we will be in a position to provide more clarity on the projected income from these products, shortly after this time. I will not provide any projected earnings because there are too many contributing factors to consider until we have chosen our strategic partner and I do not want to mislead anyone.

We are also investigating the opportunity to add a European based Bitinstant style service to our offerings and also our own Bitcoin based securities market, the latter is only preliminary investigations to ascertain any legal/regulatory requirements.

I am a main speaker at a conference in Cyprus on October 9th which is organized by the Cyprus International Institute of Management, my speech is on both Neo & Bee and Bitcoin in general.

I shall have the first merchants ready to announce by the end of next week.

I shall be announcing the Operations Director once I return to Cyprus from Amsterdam.

I need to finish writing out the post that will detail our path to regulation and detailing our partners that are aiding us in this process and providing ongoing services. I need to ensure this post is extremely clear and accurate, so no misunderstandings occur. I will complete this first thing in the morning (Dutch timezone), as I am in desperate need of sleep (Apologies for this slight delay).