PAC Global LLC update on operations and outlook for the year 2020

5 min read

Dear PAC Global Network supporters and users,

Congratulations! We have successfully made it through yet another year in this crazy, wacky, and amazing blockchain space. I would like to personally show gratitude towards all those that have supported the endeavors and passion of the PAC Global Team. It is no secret that many changes and innovations have been underway as we have made a major migration from the previous PACcoin chain to the current PAC Global chain featuring PoS, deterministic masternodes, and chainlocks enabled. Many more efforts are to be expected during the year 2020 to establish PAC Global as a front runner in the blockchain space; bringing leading innovations to solve real world problems with real world solutions. A roadmap has been put together specifically to bring notice to important milestones we expect to achieve during the year 2020. As each new year approaches, we will release a roadmap for that year. To avoid unforeseen occurrences, delaying plans or, vice versa, speeding-up plans, we have chosen to release a roadmap, reaching out only one year at a time. This should keep expectations reasonable and leave room for surprises, as we may achieve more than initially expected.

Now for an update: The latest and greatest for PAC Global is without a doubt the largest achievement to date. We are beyond excited to announce that with the strategic partnerships made, we have a tentative agreement in place for a strong capital investment and partnership, one which, upon legal and underwriting commencements and matriculation, shall open up PAC Global to the operational level it aspires to. This includes a broader development team, professional marketing firms, monthly team budgets, legitimate exchange listings, and representation at the largest and best conferences in the blockchain space. Throughout its history, PAC Global was a chain that never performed an ICO, nor had legitimate market support / outside funding to do the things absolutely necessary to compete in this world of cutting-edge technology. As certain privacy is required until the proceedings are finalized, we urge everyone to exercise patience until we break out all the details. With this opportunity available, and the ability to reach the market penetrations we desire both as a product and as a network, we are happy to release the 2020 roadmap!

In regards to security and network stability, a key vanguard of our DEV team, recently bad actors have attempted to bring the PAC Global Network to a halt. Futile attempts to discourage us or bring harm not only to the LLC but all network users have been disrupted and overcome. We have recently issued a mandatory network wide update to thwart future attacks, and speed up other needs required to accept this investment opportunity mentioned above. Originally, we planned to issue this update after bringing the fantastic news of this investment opportunity. However, action was required by our development team, and indeed swift action was taken. I would like to bring praise and mention to our lead developer Barry Style for his amazing efforts and ability to move at the pace needed. Fantastic work is being done with Barry as lead, we applaud him. Some of the features included in this recent update are:

  • In wallet staking toggle button.

  • New UI look and updated icons.

  • Improved network throughput and block handling.

  • Hardened staking checks and new 'amount' only style hybrid staking kernel

  • Lowered input size required to stake (was 10000PAC, now 250PAC).

  • Damage control (Choke mode).

  • Coins generated for direct investment (details in commit).

Now of course the first question to be asked is, “How will this large investment in PAC Global LLC affect the markets?” For this investment to directly impact the LLC and supplement the Board with the funds to achieve all that is coordinated and planned for 2020 and so on, coins will be sold via OTC directly to the Institutional investment firm. The past 2 superblocks have unfortunately had issues, not triggering the release of coins requested by the LLC. This issue has since then been resolved, and a fix has been discovered. However, we’re still sitting with the question as to where the coins will come from to accept this investment directly to the LLC. We have come to the conclusion and decision to “kill two birds with one stone”, and provide the coins ourselves by combining our personal holdings and offering them to the investment firm at a set price. Privacy has been requested from the buyer on this amount; however, it is not any lower than current market value, aka there shall be, when this deal closes, no wholesale blowout market disruptions which run counter to ALL our cumulative holdings.

Since the LLC recognizes that this investment opportunity is exactly what is needed to take the PAC Global Network where it needs to be, the LLC has sacrificed their holdings towards this purchase agreement. Under no circumstances would I ask my fellow Board and Team members to do this without a solution to reimburse the coins dedicated towards this opportunity. So, with that said, we have recently issued a network-wide update. This update has minted 1 billion coins to reimburse the coins offered, and effectively provide this team with proper incentive towards the progress of the PAC Global Network.

NOTE: This 1 Billion is NOT added to any MAX Supply figures, but will ALL of which be absorbed from future Superblock budget requests designated towards PAC Global operations. This will be done and posted with transparency in ALL future budget releases. Furthermore, not 1 PAC will go towards paying any PAC team member outside of our lead DEV Barry. Any expenses paid from the 1 Billion or the previous 700 million is strictly for past verified expenses that have gone strictly towards PAC Global.

Running a business is no small task, and this comes with making hard decisions that may or may not be received well by certain individuals. For example, the majority will recognize this as the blessing we have all been waiting for to make the PAC Global name known worldwide. However, some will try to FUD the actions taken to secure this fantastic opportunity for both the network and its users. We are prepared for this, and expect this. But at the end of the day, we stand together by our decisions and ask the community to support us as well. Similarly, tough decisions are made daily that are at times the better of 2 difficulty choices. Nonetheless, in a space that has witnessed massive shutdowns and an extremely high attrition rate, PAC Global enters 2020 with a strong team, strong code base, new products, and a vibrant and GROWING network. We want all to stay along for the ride, but understand those who choose to leave the network and community. We wholeheartedly want the absolute best for this network, and all our decisions are made with nothing but the best intentions. We are not only a team, but are some of the largest PAC holders, facilitators of our chain through Masternodes, and most ardent supporters. The rise of PAC Global’s brand, prestige, and value is paramount. We hope you are as excited about 2020 as we are, and the future beyond that!

PAC Global, brining real blockchain solutions to real world problems.

Progress is impossible without change, and those who cannot change their minds cannot change anything.

-George Bernard Shaw

First published at 01/14/2020, 01:30 PM
Last updated on 08/26/2020, 11:11 PM