A New Partnership
From December 8-9th, the Business for Africa Forum tookplace in Cairo, Egypt. During this conference, a new partnership was announced that looks to bring new advancement for the blockchain industry.
- Contract templates
- Legal Definitions
Through a newly established partnership between RAISE and the African Legal Network, the first security token framework will be established. This framework will detail a variety of steps to help maintain uniformity across a rapidly developing sector. Issues to be addressed via the framework are as follows:
Utilizing the wide network of the ALN, these standards will be shared and followed by various independent law practices across Africa.
By establishing this framework, future investors and issuers will be able to rely upon uniformity across all security token offerings. Fragmentation within the industry only leads to slow development, and often confusion among investors. The elimination of this can only be viewed in a positive light.
African Digital Asset Framework
The framework, to be developed by Raise and the ALN, will be known as the African Digital Asset Framework. This framework will be open-source, with the goal of developing both legal and technological standards across that continent.
To date, this framework has seen the endorsement of various entities, ranging from The African Union to the African Development Bank.
Founded in 2017, RAISE is based out of Nairobi. They are a blockchain company that specializes in the creation and issuance of digital securities.
Speaking on the partnership with the ALN was Raise CEO, Marvin Coleby. He stated, “Blockchain technologies suffer from a clear lack of regulation around the world. There is a need for efforts at self-regulation to create frameworks that educate law firms, policy makers and entrepreneurs. We’re particularly excited about this partnership with A&K and their ability to leverage ALN’s network of law firms in 16 countries across the continent as it allows us to work with the best lawyers, entrepreneurs and law firms to create strong regulatory frameworks for blockchain-enabled capital markets across numerous jurisdictions…Clear frameworks for digital securities can unleash innovation in the security token space and enable SME financing and liquidity for private markets on an unprecedented scale.”
We recently detailed Raise in a partnership announced with iHUB. This article can be found HERE.
African Legal Network
The ALN is an alliance between various independent law firms throughout Africa. This group was the recipient of the ‘African Network/Alliance of the Year’, at the African Legal Awards in 2018.
Dominic Rebelo, a partner from Anjarwalla & Khanna, an ALN member, spoke on the partnership with Raise. He commented, “Our partnership with Raise aligns perfectly with our vision for the future of capital raising and securities trading across Africa and demonstrates A&K and ALN’s commitment to provide our clients with a seamless service across the Continent.”
Raise is establishing themselves as a trailblazer within Africa. While much of the world has seen the rise of various companies developing security token frameworks, Africa has not. This has now changed, with Raise having a clear vision for the future.
While the sector is rapidly becoming competitive within North America with companies such as Securitize and Harbor popping up, Raise has the opportunity to dominate the African blockchain landscape.