Copyright 2017 FinTechToken.com
Open source software is free because people develop software without getting paid. Corporate software is expensive and lacks the benefits of community.
People should get paid for their contributions in a way that keeps the cost to consumers of software low.
The Open Utility Token License is a way to share the benefits of a project with the community of contributors that develops and maintains the project. The Open Utility Token License also keeps software licensing simple and inexpensive to consumers.
People may utilize a project by purchasing the projects utility tokens. Tokens are smart contracts that may be written to implement specific business models. For example; an Utility Token may have an expiration date to implement a subscription based business modal, or an Utility Token may expire after each use, or an Utility Token may grant the holder a perpetual license.
We beleive a project can have two main tokens representing two main stakeholders. The consumers via the Utility Token, and the contributors via a ProjectToken.
The proceeds gained from selling Utility Tokens go via smart contract directly to the contributors to a project via the ProjectTokens. This dramatically lowers costs.
Permission is hereby granted, to any person obtaining a valid FinTechToken_UtilityToken (an "UtilityToken"), and a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to them obtaining a valid UtilityToken and the below conditions:
The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
The definition of a valid UtilityToken is defined in the UtilityToken smart contract.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.