Part of the Gang
There is a commonly shared belief, within the digital securities sector, that one of the largest hurdles yet to be cleared surrounds regulations. As a result, there have been working groups, such as the Blockchain Association, which have spawned. Their goal? Push for appropriate regulations surrounding blockchain based endeavours, while promoting the potential benefits the technology can provide.
In their announcement, TokenSoft clearly notes three points as their rationality for joining the Blockchain Association. The following is an excerpt from this announcement, touching on what these three points entail.
- Regulatory Clarity — Providing guidance as to how the blockchain can be used within existing regulatory frameworks.
- Enhanced Compliance — Providing education and guidance as to how security tokens standards such as ERC-1404 can be used to enhance regulatory compliance above and beyond what is possible today with traditional securities infrastructure.
- Greater Automation — Evaluating and providing guidance as to how blockchain infrastructure can automate, enhance accountability, and reduce error in transactions by standardizing compliance procedures to the extent possible.
With current markets in flux, the present is a perfect opportunity to push for development in the digital securities sector. With traditional systems sputtering, many will be looking for new, innovative ways to move forward. The goal of establishing clear regulation, and preaching the benefits of blockchain to those that make the rules, might just allow for blockchain to be that path that many are looking for.
Upon announcing their new role within the Blockchain Association, the following commentary was provided.
Kristin Smith, Executive Director of The Blockchain Association, stated,
“We’re excited to add TokenSoft’s expertise as we work with regulators to create nuanced standards to spur the blockchain economy’s growth. Securities law remains a vital issue and the TokenSoft team provides important perspective in support of a pro-business and pro-consumer regulatory solution.”
Founded in 2018, the Blockchain Association maintains headquarters in Washington, DC. Above all, this group does whatever is necessary to advocate for the adoption of blockchain technologies.
Executive Director, Kristen Smith, currently oversees operations.
Founded in 2017, TokenSoft maintains headquarters in San Francisco, California. Above all, the team at TokenSoft has developed a platform geared towards serving the digital securities sector. They have done this through a variety of services such as issuance, custody, and more.
CEO, Mason Borda, currently oversees company operations.
In Other News
Within the last month, TokenSoft has become a regular in our news feed. Beyond their work surrounding regulations the team at TokenSoft have managed to, not only establish new strategic relationships, but also upgrade their own services. The following articles shed light on each of these instances.