Despite the evident popularity of Ethereum among digital security issuers, TokenizEU has announced they are turning to another blockchain. The issuance platform will be utilizing the Ravencoin blockchain.
In their announcement, TokenizEU notes various reasons for their deviation from the norm. For instance, here are a few examples of the rationalization behind their decision:
- Built for asset creation
- Issuance isn’t reliant upon smart contracts, as the protocol itself was developed specifically for token creation
- Messaging system
- Token issuers are able to send messages to those that hold their tokens. As this occurs on the blockchain, proof of messages being sent are always recorded.
- Voting system
- Token holders receive ‘vote tokens’. This allows for holders to weigh in on company matters.
- Dividend system
- Token holders are able to receive dividends in the form of RVN, regardless of location
- Naming system
- Every asset has unique names applied
- Asset metadata
- Issued tokens can have data ‘piggybacked’ to them. This means that a token may hold information regarding its intended use, benefits of holding that token, and even information on how to contact its issuer.
Closing their statement of adoption, TokenizEU states the following regarding the aforementioned qualities of Ravencoin – “All of these features will create an entire ecosystem and the use cases for assets on the Ravencoin blockchain are virtually limitless.”
Although Ravencoin may be newly released, TokenizEU can clearly see the benefits of utilizing a blockchain such as this, to issue tokens.
Acting as an issuance platform, TokenizEU is a regulatory compliant company within the European Union. Security token services offered by the company opened in the beginning of October, 2018.
They function with the purpose of facilitating the tokenization of companies looking to raise funds. This tokenization takes place in the form of digital securities. With this being the case, investors must take part in typical AML and KYC practices.
Beginning life as a Bitcoin Fork, Ravencoin has evolved well beyond what it once was. With much anticipation, the protocol was only recently released to the public. This occurred on November 5th, and adoption hasn’t slowed down since.
One of the founding members of Ravencoin, Tron Black, recently spoke on a comparison between themselves and Ethereum. He stated, “I don’t know if we’re trying to replace Ethereum or something like that. Although I would argue that, for the purposes of an ERC-20 token, we are far easier to use. So I think that will go a long way.”
At the end of the day, Ravencoin is still an unproven entity. On the surface, the project definitely seems as though it has the potential to carve out a place within the blockchain industry. TokenizEU adopting it is a good start.
For more information on Ravencoin, check out their whitepaper, HERE.
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