HAT Governance Protocol
The HAT Governance Protocol is the top-level document that addresses what is governed and how. HCF’s governance is focused on the regulation of Dataswift as the exclusive operator of the HAT data exchange based on its proprietary HATDeX Platform, and through DataSwift, the other main actors in the commercial ecosystem: HAT Merchants and HAT Issuers. With regard to the governance of Dataswift and Dataswift operations, HCF has two complementary roles:
to exercise statutory governance through its holding of the Guardian Share in Dataswift (that maintains a mission lock on Dataswift), and
to exercise operational governance through pro-active monitoring of Dataswift’s statutory governance and its ongoing approach to assuring HAT Merchants and HAT Issuers as well as “self-assurance” of its own protocols, including the legal framework.
HCF’s approach to governance is “eyes-on, hands-off” although must specifically agree Dataswift’s proposals to change the following Control Documentation:
Dataswift Articles of Association – regarding the rights of the Guardian Shareholder;
HCF-DataSwift operating and licencing agreement that covers amongst other things:
the basis of Dataswift’s certification as the HAT Platform Provider – being exclusive until 2027 – and the licencing and use of trademarks,
empowerment of Dataswift to admit (and sub-licence) HAT Merchants and HAT Issuers to the ecosystem providing they remain fully-paid members of HCF, and
Dataswift’s obligations to maintain the open source HAT technology under HCF’s supervision;
HAT Rating System (maintained by Dataswift); and
DataSwift operating protocols.
Neither Dataswift nor HCF hold any accountability for the compliance of HAT Merchants or HAT Issuers with the requirements of ICO, FCA or other regulatory bodies but Dataswift will take reasonable measures to ensure that this is the case before admitting them to participate in the ecosystem and as members of HCF.