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Blockchain Identity Firm WISeCoin Announces STO

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WISeKey Announces STO

The Swiss-based cybersecurity firm, WISeCoin announced plans to host an STO in Q2 2019. The announcement has captured the attention of analysts and follows the receival of a “no-Action Letter” from the Swiss Financial Supervisory Authority (FINMA). The move marks another step forward for the Swiss security token market.

WISeCoin is a subsidiary of WISeKey. WISeKey created the WISeCoin platform to furhte3r pursue their blockchain identity strategy. Speaking on the decision to host an STO, WISeKey CEO, Carlos Moreira, discussed how his platform utilizes a wide-range of “blockchain enabled microchips” to provide clients with a customizable identification system. He also touched on the importance of increasing your digital identification procedures to adapt to the “evolving device landscape.”

WISeCoin

WISeCoin developers seek to revolutionize the world of digital identification via the integration of IoT, blockchain, and AI. The concept is anything but simple. WISeCoin integrates a host of proprietary technology to merge seamlessly merge these sectors. Here’s how the system functions.

WISeKey via Homepage

WISeKey via Homepage

Blockchain of Identity

Blockchain identification systems are nothing new to the sector. The ability to verify, authenticate, and securely manage digital identities via the blockchain continues to drive more firms into this business model. What makes WISeCoin different is their approach to the problem.

WISeCoin developers decided to leverage the immutable nature of blockchain technology by pairing it with the Internet of Things (IoT). The IoT is the network of billions of smart devices currently entering the market. These items are able to monitor and communicate with each other.

To put the scope of this network into perspective, there were 15.4 billion smart devices connected in 2015 according to IHS reports. Intel plans to expand that network to 200 billion devices by 2020. Of these smart devices, wearable units are the fastest growing. IDC forecasts predict a 31 percent increase in this sector by 2020.

As you could imagine, leveraging these devices is an extremely powerful way to monitor, verify, and authenticate people, or items. In order to accomplish this monumental task, WISeCoin developers employ “Root of Trust” RoT and PKI protocols. RoT protocols provide secure authentication across both digital and physical environments.

WISeKey International Holding Ltd.

The world of AI, IoT, and blockchain are destined to play important roles in the future. WISeKey combines the best attributes of these advanced sciences. The firm is sure to see continued success in the coming months as their STO approaches.

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David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

Security Token News

Blockpass to Offer Onboarding Services to Polymath Clients

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Blockpass to Offer Onboarding Services to Polymath Clients

Strategic Collaboration

Polymath has recognized a need for providing its clients with access to regulatory compliant investor onboarding services. Seeking a provider, they have now announced an alliance with Blockpass.

This alliance will see Blockpass provide token issuer’s access to a growing pool of pre-verified investors. In doing so, potential issuers can rest easy, knowing that their offerings only provided to appropriate investors. This means that these pre-verified investors have already undergone KYC and AML measures, ensuring they are accredited.

The goal of this move is simple – lower barriers of entry to the issuance of digital securities. By providing access to services rendered by Blockpass, potential token issuers can remove one more thing off of their lengthy token-issuance checklist. Blockpass grants access to its services through AP, making the process even easier and more attractive.

Commentary

Upon making their announcement, the CEO of each, Blockpass and Polymath, took the time to comment. The following is what each had to say on the matter.

Adam Vaziri, CEO at Blockpass, stated,

“This partnership is the latest step we have taken to streamline the painstaking and cumbersome process of onboarding investors. There are many synergies between Polymath’s proposition and our own, in that we are both striving to create simplified and compliant solutions.”

Kevin North, CEO at Polymath, stated,

“We are very excited to announce our collaboration with Blockpass…This represents our continued efforts to provide Polymath issuers with access to best-in-class KYC solutions like Blockpass.”

Blockpass

Blockpass is a Hong Kong, China, based company, which was founded in 2017. Above all, Blockpass works to provide the digital securities sector with solutions tackling regulations and compliance.

To date, Blockpass has already experienced minor adoption, as they have seen their services integrated with Infinito Wallet – bringing support for digital securities in the process.

Company operations are overseen by CEO, Adam Vaziri.

Polymath

Polymath is a Toronto, Canada, based company, which was founded in 2017. The company has established themselves as an industry leader through a variety of offered services. These platform services include specialized protocols, allowing for the issuance of customizable digital securities.

Polymath recently caught the attention of industry participants, as they announced the on-going development of a blockchain purpose built for digital securities. This blockchain is known as ‘PolyMesh’.

Company operations are overseen by CEO, Kevin North.

In Other News

Pre-verification of investors has become an increasingly popular option among industry participants. This is made evident through various established partnerships, beyond the one discussed here today. Here are a few examples of companies aligning their interests over the past few months.

Entoro to Act as Placement Agent in Upcoming Leonovus ‘Galaxa’ STO

Zapaygo STO to Benefit from Vertalo and DealBox Services

Ben Franklin Gives Access to ‘Go Philly Fund’ with the Help of Securitize

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Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

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Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

Development of the highly anticipated Boston Security Token Exchange (BSTX) continues as one of the partners behind this innovative concept, Box Exchange, filed for a rule change from the SEC this month. The 400-page filing seeks a change that allows BTSX to offer tokenized equities in the form of security tokens. If successful, BTSX would gain valuable positioning in the ever-expanding security token sector.

Boston Security Token Exchange Details

The BTSX exchange focuses on reducing the entry barrier for businesses seeking public funding. Respectively, the platform utilizes the Ethereum blockchain. This is a smart strategy because ERC protocol standards are the most popular type of security token issued. According to the BOX’s rule change request, the BTSX platform includes full automation via integrated smart contract protocols. Officially, the platform functions as a price time execution system for trading security tokens.

One Token to Rule Them All

Interestingly, the platform will not feature a multitude of security tokens from different providers. Instead, all trades occur in BSTX tokens. This strategy provides users with a couple of important benefits. For one, Users see a 20% reduction in listing costs. Additionally, this strategy allows BTSX to concentrated liquidity on a single trading center. Also, hosting and launching new projects is more cost-effective in this way.

BOX Technologies via Homepage

BOX Technologies via Homepage

BSTX Token

The BTSX token standard takes many attributes from the ERC-884 security token standard. Notably, BTSX tokens remain compliant throughout the token’s lifecycle. Interestingly, all trades must still clear through an “Approved Settlement Provider and the BSTX Participants.”

The Boston Security Token Exchange – BSTX

The BSTX platform is made possible through a strategic partnership between the BOX Exchange and Overstock’s crypto project, tZERO. Both firms are major players in the cryptomarket. Consequently, analysts predict BTSX will share in these firms’ growing influence. The BOX Exchange first raised eyebrows across the crypto space when it announced a partnership with tZERO on May 18th, 2018. The partnership gave both firms equal ownership and representation in BTSX.

Discussing the partnership, BOX CEO, Lisa Fall described why tZERO’s proven development track record was critical towards the success of the project. Fall also took a moment to touch on BOX’s past successes in the transparent equity options marketplace. She pointed out that, together, both companies can succeed where others failed.

No Reg A+

The filing pointed out some key restrictions the platform includes. For example, BTSX will not participate in any Reg A+ funding. Reg A+ funding has some additional flexibility that companies enjoy. For example, companies can “test the waters” before committing to their crowdfunding campaign when utilizing a Reg A+ strategy.

Importantly, the SEC has not approved any Reg A+ security token platforms to date.  BTSX is well aware of this fact and decided it was in their best interests to avoid the delays associated with attempting to get licensing for this type of public offering.

It’s Time

Now, BOX and tZERO look to combine forces to become a dominant player in the security token sector. Definitely, these firms have the experience and network to accomplish their goals in the coming months. Now, the ball is in the SEC’s court.

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BnkToTheFuture to Utilize Altcoin.io for Security Token Exchange

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BnkToTheFuture to Utilize Altcoin.io Tech for Non-Custodial Security Token Exchange

The popular decentralized exchange (DEX), Altcoin.io, announced the licensing of their proprietary trading software to BnkToTheFuture this week. BnkToTheFuture intends to utilize the software to create a non-custodial security token exchange slated for a 2020 release date. The move would place BnkToTheFuture in the exclusive class of non-custodial security token exchanges in operation currently.

Shared Vision

Discussing the strategic partnership, Altcoin.io CEO, Andrew Gazdecki, commended BnkToTheFuture for their decision to expand into the security token sector. He explained how BnkToTheFuture shares a common vision with Altcoin.io.

Notably, both firms seek to expand tokenization. Specifically, BnkToTheFuture seeks to tokenize the world’s capital markets. The CEO of BnkToTheFuture, Simon Dixon, also took a moment to speak on the maneuver. Dixon described why Altcoin.io was able to capture their attention. He took a moment to compliment the firm’s technical achievements over the last two years.

These achievements include being the first exchange to successfully complete an Atomic Swap. An Atomic Swap is a cross-blockchain crypto trade. Altcoin.io was able to trade Bitcoin for Ethereum utilizing this second-layer protocol in 2018. Today, the platform offers this service directly from its wallet.

Altcoin.io Track Record

Importantly, Dixon pointed to Altcoin’s proven track record to strict regulatory compliance. Compliance is critical when discussing tokenization of securities, equity, or real estate. These investment tools have specific regulations that vary depending on the investment status and the region.

Altcoin.io via Homepage

Altcoin.io via Homepage

BnkToTheFuture wants to leverage Altcoin’s smart contract technology to enable pre-programmed compliance into each token launched. According to company executives, the new security token exchange will feature a non-custodial layout. Non-custodial exchanges are seen by many as the natural evolution of the crypto exchange.

Altcoin.io Real Benefits

Non-custodial exchanges provide traders with the highest level of protection against hackers. In a non-custodial exchange, your crypto remains in your possession until the actual execution of the trade. This strategy is in stark contrast of centralized exchanges, which require you to load funds on to a custodial wallet.

Hackers

The problem with custodial exchanges is that because of the sheer amount of crypto these wallets hold, hackers find these targets to be profitable. How popular? According to one report, over $350 million in crypto has been stolen this year already. Non-custodial exchanges eliminate these losses.

Delays

Another huge benefit provided by non-custodial exchanges is the removal of withdrawal delays. Withdrawal delays are a major problem experienced by crypto traders. Basically, something happens that spooks the exchange. In turn, your funds are locked up until the exchange feels comfortable enough to give you access to your funds again.

Altcoin.io

Altcoin.io entered the crypto market in 2017. The company made headlines after completing a successful crowdfunding campaign in collaboration with www.wefunder.com.  Notably, the platform was among the first Peer-to-Peer DEX exchanges available to crypto consumers. Altcoin specializes in Ethereum complaint tokens. Most of these tokens are of the ERC-20 token standard. Ethereum is by far the most widely used token standard in the market today. As a result, Altcoin’s positioning in the market is ideal.

BnkToTheFuture Lives Up to its Name

BnkToTheFuture entering the security token sector in this manner is huge news. The firm has an uncanny track record which includes investments in Coinbase, BitStamp, Shapeshift, Ripple Labs, and Circle, to name just a few.

Now, the firm seeks to claim the title as the premier security token exchange in the market. Given BankToTheFuture and Altcoin’s experience, you should expect to see major developments from these firms in the coming months.

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