Blockstream Liquid Security Platform
In a move straying from the norm, Blockstream has announced their decision to launch a securities platform on the Bitcoin blockchain. More specifically, this endeavour will make use of sidechains. While the Liquid platform launched with support for cryptocurrencies in late 2018, this expansion marks the inclusion and support for digital securities.
Blockstream has noted various benefits offered by their platform.
- Streamlined Development
- Due to the use of a single blockchain for all assets, time needing to integrate various APIs, coding, etc. is saved
- Secure Trading
- Through the use of atomic swaps, users can eliminate middle men in transactions – thereby reducing the amount of time assets are in the control of others.
- Fast Transfers
- Fund transfers between accounts are offered at high speeds, in a private nature
- Issued Assets
- Liquid allows for basically any real world asset to undergo tokenization and be traded.
Although Bitcoin is still fighting for mainstream adoption, those involved in the world of blockchain are always looking toward the future. With this being the case, many have viewed Bitcoin as being outdated, despite barely getting off the ground. Many view the use of sidechains as the remedy to this notion.
A sidechain allows for a federated community to be implemented over the Bitcoin network by creating branches off of the main chain. These branches, or ‘sidechains’, remain anchored to the main chain, however allow for a high level of customization to be imbued.
Various companies utilize Bitcoin sidechains, such as Blockstream and the popular Texas based, Factom.
Upon release of the news, Blockstream’s Chief Security Officer, Samson Mow, took the time to comment. He stated,
“Businesses around the world are racing to take advantage of the tokenisation of securities…Unfortunately, blockchain platforms like Ethereum are failing them due to issues with scaling, privacy, and reliability. Liquid was built to address these issues. Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button, and establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required.”
Blockstream is a Canadian company which is headquartered in Victoria, British Columbia. Launched in 2014, Blockstream specializes in blockchain technologies, with a stated goal of developing ‘financial infrastructure of the future’.
Company operations are overseen by CEO and Cofounder, Dr. Adam Back.
In Other News
With the blockchain industry gearing up for another exciting year, the industry has been greeted with various announcements of late, indicating upcoming securities exchanges. Here are a few articles detailing these events and the companies behind them.
- Euro Forex Market Remains Weak in Early Trading
- Mainstream Tax Solutions Making Their Way into Crypto
- Gold vs Silver – Key Differences Between These Precious Metals
- INX to Acquire and Merge with OpenFinance, Creating Regulated Trading Platform for Digital Securities and Cryptocurrencies
- Adoption of Blockchain by Banks on the Rise Globally – JP Morgan, United MultiState, DBS