There is no such thing as the launch of a completed product. Times change, technology is upgraded, and needs vary. A successful product will often see various iterations and updates throughout its lifespan, in an effort to serve its intended market.
ONCHAINID is essentially version 2.0 of their previously released investorID – a solution geared towards whitelisting investors. ONCHAINID looks to oust traditional ‘central-systems’, in favour of a more decentralized approach. Along with this approach, ONCHAINID looks to build upon what investorID was able to offer, with various new functionalities.
Tokeny notes that this product is built on providing clients with 3 main features:
- Data enrichment
- Direct ownership of securities
- Customer accounts management
For those interested in learning about the initial launch of investorID, and to see how Tokeny arrived at ONCHAINID, make sure to peruse the following article.
Upon announcing ONCHAINID, Luc Falempin, CEO of Tokeny, took the time to comment, elaborating on the move and why it was needed.
Luc Falempin stated,
“For financial institutions to move away from analogue processes and step in to the digital era, they need reliable and compliant standards. Most of the protocols created for digital securities failed to recognise that identity across the value chain is essential to apply compliance for the issuance and transfer of tokenized securities. ONCHAINID, and its open ecosystem, is the most credible solution to securely and accurately identify market players and their assets on the blockchain.”
“To achieve our vision of a digital capital markets there needs to be a secure and institutional-grade system that enables the creation of digital identities for issuers, agents, investors and securities. This is why we have created ONCHAINID, to bring forth a shared and controlled data-rich ecosystem that transforms traditional finance into a truly digital and connected industry.”
Speaking with Luc
In our ongoing interview series, we have had the pleasure of hosting an exclusive discussion with Luc Falempin, CEO of Tokeny. Here, we learn more about what exactly Tokeny has to offer (including the predecessor of ONCHAINID).
Founded in 2017, Tokeny maintains headquarters in Luxembourg. Since launch, the team at Tokeny has been hard at work, developing a variety of solutions, targeted towards the digital securities sector. One such solution is, aforementioned, ONCHAINID discussed here today.
CEO, Luc Falempin, currently oversees company operations.
In Other News
Tokeny has had a successful few months. It was only recently that we were reporting on the company being included in 2019’s ‘FinTech 50’ – A comprehensive list of the top European companies within the industry.