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Polymath Upgrades To Version 3.0, Adds QRC To Token Studio

Polymath has announced a major version upgrade for its STO platform along with the addition of QRC token to the Token Studio. Polymath’s technology acts as a bridge between Wall Street and blockchain, with the aim to “enable trillions of dollars of securities to migrate to the blockchain” through the process of tokenization. Version 3.0 Upgrade The new version of the Ethereum-based protocol is codenamed “Poho” (the Sesotho word for Bull), and allows for Polymath’s ST-20 standard to be fully compliant with ERC-1400. With this upgrade, the new version “improv[es] interoperability and communication within the security token ecosystem.” Similarly to how ERC-20 became the standard for utility tokens, ST-20 aims to offer regulatory compliance for security offerings, thus becoming a new de facto form for sales. By complying with ERC-1400, “Polymath enables every stakeholder… to speak the same language through standardization” and allows security token issuers to comply with securities regulations “across multiple jurisdictions.”  New Features Of Polymath 3.0 The Polymath 3.0 release makes ST-20 tokens easier and more flexible to manage. Functionality can be added to tokens through “purpose specific modules which encapsulate business rules for compliance, fund-raising, capital distribution and governance.” This allows customization for certain assets with the ability to adjust parameters for different jurisdictions. It will now be possible for developers to upgrade their core security token as they wish. Asset-issuers will maintain full sovereignty over the token, providing an improvement in future-proofing for “both core security token functionality and individual modules.”  QRC Offers Guidance On Launching Compliant STOs QRC, a Regtech consultancy for the blockchain industry, is now listed as an advisor in the Polymath Service Provider Marketplace. Companies using Polymath’s services can now select QRC as a third-party service provider to assist with their security token offerings. QRC will act as a guide for clients, walking them through the process of a securities offering and providing support for legal and technical affairs. From there, QRC works with other regulated partners in the next steps such as marketing, networking, and investor introductions. Shogo Ishida, CEO of QRC Group, expressed enthusiasm for the company’s new role in cooperation with Polymath.  “Many companies across the world are now looking to offer their own STOs and Polymath leads the way in offering these companies an easy to use platform,” Shogo said.  “This important relationship ensures QRC can provide world-class STO advisory services paired with the world’s leading token issuance technology platform.”   The post Polymath Upgrades To Version 3.0, Adds QRC To Token Studio appeared first on Crypto Briefing.
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Polymath Implements ‘Poho’, Making ST-20 Compliant with ERC-1400 Standards

Codename ‘Poho’ Polymath has announced ‘Poho’ – meaning “Bull” in Sesotho, a language spoken by over 5 million South Africans.  This is the codename for what is essentially version 3.0 of their ST-20 protocol. While ST-20 has served Polymath well, until now, industry participants require greater interoperability, along with a protocol offering higher levels of customization. Poho offers all of this. Beyond adding new capabilities to the protocol, Poho has already undergone a full audit by the Consensys Diligence team, ensuring the work is sound. By upgrading the ST-20 standard, Polymath indicates that it is now fully compliant with ERC-1400. Token Standards While the development of Poho represents an important move forward for Polymath, they are not the first company to take such steps. The following are a few examples of rival companies that have created their own tailored token protocols. Securitize DS Protocol Harbor Regulated Token Standard (R-Token) Vertalo V-Token Specialized Services Poho is not the first instance of Polymath announcing a purpose built product for the digital securities sector. Recently, Polymath announced, not only the addition of new talent, but the development of a blockchain, built specifically for hosting digital securities. This blockchain is titled ‘PolyMesh’, and will no doubt offer future support for the protocol upgrade discussed here today. Polymath Announces ‘PolyMesh’ – A Purpose Built Blockchain for Digital Securities If you are planning for a future where digital securities are commonplace, why rely on patch work solutions? The industry is still nascent – take the time to create purpose built products now, setting everyone up for a more productive future. Commentary Polymath’s Head of Technology, Adam Dossa, took the time to comment on the need for Poho.   The following is what he had to say regarding the announcement. “Until now, organizations have been developing their own patchwork solutions for security token infrastructure. Now, with the ERC-1400 standard, every developer and stakeholder can speak the same language, opening up significant opportunities in this vertical…With the ‘Poho’ release of our Polymath protocol, ST-20 tokens are fully ERC-1400 compliant as well as being future-proofed through on-chain upgradability and a sophisticated modular structure.” Polymath Since their launch in 2017, Toronto based, Polymath, has established themselves as leaders within the digital securities sector. This has been achieved through constant development of services, such as the protocol upgrades discussed here today. To date, over 120 companies have benefitted from the issuance of security tokens made possible through the suite of services offered by Polymath. CEO, Kevin North, currently oversees company operations. In Other News Polymath has long been a regular feature on securities.io, as they remain one of the most active companies within the digital securities sector. The following are a few articles demonstrating recent developments pertaining to their progress. Polymath Scraps Two Projects, Honing in on Vision for Digital Securities Blockpass to Offer Onboarding Services to Polymath Clients Sum&Substance Introduced to Polymath ‘Service Provider Marketplace’ The post Polymath Implements ‘Poho’, Making ST-20 Compliant with ERC-1400 Standards appeared first on .
Securities.io

Polymath upgrades platform for ERC-1400 security token compliance

Polymath upgrades platform for ERC-1400 security token compliance » CryptoNinjas Polymath Network, a decentralized platform for security tokens, today announced a major upgrade to its Ethereum based protocol – codename “Poho” (the Sesotho word for Bull) or version 3.0. This upgrade makes Polymath’s ST-20 standard fully compliant with ERC-1400 improving interoperability and communication within the security token ecosystem. Polymath enables every stakeholder, from issuers and investors […] Polymath upgrades platform for ERC-1400 security token compliance » CryptoNinjas
CryptoNinjas

Polymath Clients to Benefit from CrowdEngine Services

Teaming Up CrowdEngine has recently announced their alliance with Polymath. This pair of companies recognized a need within the world of crowdfunding, relating to the time which must be invested when tokenizing an asset. Through the combination of their services, this partnership should allow for tokenization process to be greatly expedited. This expedition is achieved through the use of a ‘boxed set’ of services, developed and offered by CrowdEngine. Token issuers, which utilize Polymaths services, will now gain access to these boxed services, which include, but are not limited to, the following features: Branded STO website KYC & AML services Investor whitelisting Payment Gateway Polymath facilitates the issuance of digital securities, while CrowdEngine paves the way for issuers to do so. Commentary Upon delivering their announcement, representatives from each, Polymath and CrowdEngine, took the time to comment. The following is what they had to say on the matter. Jim Borzilleri, CEO at CrowdEngine, stated, “Our partnership with Polymath supports our mission of serving the rapidly growing security token market and gives Polymath token issuers a proven, affordable path to launch…While we help ensure our clients execute compliant offerings, Polymath gives issuers the tools they need to easily issue securities on the blockchain and be secondary market-ready with the ST-20 token standard.” Graeme Moore, Head of Tokenization at Polymath, stated, “CrowdEngine is a proven solution that has been providing fundraising and investor management tools since 2014…CrowdEngine provides Polymath issuers with a ready-to-market website for onboarding investors, which is very exciting to us, and very important to our issuers.” CrowdEngine CrowdEngine is a United States based crowdfunding platform, which operates out of Utah. This company, which launched in 2012, described their mission as ‘driving crowdfunding technology’. Naturally, this mission has led them to dive into the world of digital securities, as this new technology looks to revolutionize crowdfunding. Company operations are currently overseen by CEO, Jim Borzilleri. Polymath Polymath is a Canadian company, based in the metropolis of Toronto. Kevin North currently acts as CEO, and manages operations, which began in 2017. In the rapidly growing world of digital securities, Polymath remains one of the better known participants. Through offerings such as their ST-20 protocol, Polymath has, to date, successfully helped various companies complete security token offerings. In Other News News of this partnership comes on the heels of Polymath’s recently announced ‘PolyMesh’ blockchain. This purpose built blockchain is intended to ramp up adoption of Polymath services, and bring more opportunities to investors. Here are a few articles, discussing Polymath and their recent developments. Polymath Announces ‘PolyMesh’ – A Purpose Built Blockchain for Digital Securities Arch RE and Polymath Hope to Offer Broader Scope of Investment Opportunities seriesOne to Utilize ST-20 Standard by Polymath Polymath Proves DEX Security Token Concept The post Polymath Clients to Benefit from CrowdEngine Services appeared first on .
Securities.io

Polymath CPO: Security Tokens Are Even Better Than You Think

Security tokens make more sense than utility tokens, according to the latest wisdom among crypto investors. Sure, there are some conceptual gymnastics, but the actual product is a digital equivalent of paper equity, which has been widely traded for almost 500 years. Even the oldest, crustiest investor can buy into that. But according to Thomas Borrel, Polymath’s (POLY) Chief Product Officer, tokenizing paper equity may miss the point. To the contrary, he says, security tokens have far more potential for the global financial sphere than the most bullish investors realize. “Paper equity tokenization doesn’t really add anything,” Borrel told an audience at Blockchain Expo, in London today. In his opinion, all that does is needlessly obfuscate a system that the vast majority of investors know and are familiar with. “Trying to tokenize equity makes it more complicated for investors,” Borrel explained to Crypto Briefing afterwards. “They can buy the exact same asset through their normal channels, and holders won’t be able to realize any of the benefits tokenization offers.” The Polymath network is designed for security tokens. Projects can launch an STO on their platform, and issue equity, in the form of regulatory compliant ST-20 tokens. Following the success of the tZero STO in August, there has been a significant increase in the number of STOs coming to market. Polymath, which launched last August with five STOs, has seen a significant upswing in the number of projects using their platform for their token sales. According to Borrel, there are now more than 116 security tokens available on the Polymath network. What are security tokens good for? For Borrel, the key point is that tokenization can solve legacy problems as well as create new value. “The greatest amount of success is where companies deliver something which could not have been delivered before,” he said. One such example includes overhauling vesting schedules. Rather than employees receiving stock options every quarter, or once every year, security tokens allow companies to pay the equivalent amount paid on a daily basis. This prevents employees who are likely to quit from “coasting” to the next vesting date before handing in their notice. Plus, “every day they become more bought into the organization,” Borrel says, which acts as a better incentivize for them to stay. A vesting schedule which pays out daily would be prohibitively expensive in existing systems. Using blockchain tokens, with minimal transaction fees, this becomes more feasible. As regulators begin to provide legal frameworks for digital assets, more established players will begin to experiment with security tokens and develop clear use-cases for the technology. This might come sooner rather than later, according to Borrel. “What’s absolutely fascinating is the speed of the industry and the speed of regulators too,” he said. “We know how security tokens fit into regulation”. As more securities move to the blockchain, Borrel said, people will finally understand what security tokens are all about. The post Polymath CPO: Security Tokens Are Even Better Than You Think appeared first on Crypto Briefing.
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seriesOne to Utilize ST-20 Standard by Polymath

End-to-EndVarious companies have made announcements detailing intended usage of token standards lately. As the development of various crowdfunding platforms in the digital securities sector continues, the time has come for many to choose what they feel is the most promising standard. With this in mind, seriesOne has just announced that they have partnered with Polymath.This partnership will see seriesOne utilize the ST-20 token standard to issue and manage digital securities. The ST-20 protocol is based off of the Ethereum blockchain, and will allow for seriesOne to maintain compliance with global regulations governing the industry.The Future is ST-20For seriesOne, it was a simple choice to settle on ST-20. This token standard was one of the first to be developed specifically with digital securities in mind. As such, Polymath has had more time than most to develop, hone, and market their offering. This effort has seen the standard adopted by various companies, with seriesOne being the most recent.CommentaryIn their press release, the CEOs of each company took the time to express their thoughts on the announced partnership.Michael Mildenberger, CEO of seriesOne, stated,“Investors around the world trust Polymath, which was fundamental to our decision to work together…We are confident that working with the Polymath team using the ST-20 protocol will enhance the process of raising capital on our platform.”Kevin North, CEO of Polymath, stated,“Polymath is proud to work with innovative partners like seriesOne, who has fulfilled a specific demand for a turnkey financing portal for any fundraising process…We are thrilled to be the chosen technology standard for the seriesOne platform, and we look forward to demonstrating yet again how industry can work together to set a standard for creating and managing a successful Security Token Offering (STO).”seriesOneseriesOne is a crowdfunding platform, which specializes in the issuance, distribution, and management of digital securities. Through their platform, issuers are able to effectively, and efficiently, host security token offerings. The company is based out of Miami, and was founded in 2013.PolymathPolymath is a Canadian company, which maintains headquarters in Toronto. The company was established in 2017, and is spearheaded by CEO, Kevin North.To date, Polymath and their token standards remain one of the most adopted solutions in the young world of digital securities. Their own utility token is available for trading on various industry leading cryptocurrency exchanges such as Poloniex and Bittrex.In Other NewsEach of these companies discussed here today have found their way into our headlines in recent months. For a look at what they have been up to recently, make sure to check out the few articles listed below!Bithumb Announces New US Security TokenDigital Securities Consortium formed Between Industry ParticipantsPolymath Proves DEX Security Token ConceptThe post seriesOne to Utilize ST-20 Standard by Polymath appeared first on Securities.io.
Securities.io

Polymath Proves DEX Security Token Concept

The security token launch platform Polymath recently partnered with the decentralized exchange (DEX) Loopring. The partnership allowed Polymath to prove that their ST-20 tokens can remain compliant in secondary markets. The test results showcased this ability as the developers completed their tests successfully.Two tests were conducted. Both tests involved trading an ST-20 token with a “wrapped ETH” token. Wrapped ETH tokens are ETH wrapped in the ERC-20 protocol. The first test attempted to exchange the tokens with all the necessary regulatory requirements met. This test completed as planned. The next test was similar but developers purposely left out certain compliance requirements. This test failed to complete.Transfer Management ModulesThe tests prove Polymath’s ST-20 tokens function properly on DEXs. Compliance on DEXs is possible through the integration of special transfer management modules. Think of these protocols as a third party verification layer built into your ST-20 token. Prior to the transfer of any ST-20 token, the transfer management module requires verification.Transfer management modules work as mini regulators for ST-20 tokens. Only after these modules approve a transaction can the token transfer. Polymath’s ST-20 protocol embeds regulatory compliance regulations directly into the tokens smart contract programming.Polymath via Craft.coSpeaking on the success of the tests, the Vice President for Marketing, Graeme Moore explained the benefits gained from opening up security tokens to DEXs. He described how security tokens are more efficient, secure, and cost less to institute. He argued that security tokens make it easier for companies to meet compliance standards when compared to traditional securities.PolymathPolymath entered the market in 2017 with the goal of simplifying the token issuance process. The platform is based out of Saint George, Barbados and lists Chris HouserChris Houser as the founder.  Polymath is a leader in the security token sector. The platform is one of the main security token issuance platforms in the space.ST-20The firm’s ST-20 protocol functions in a manner similar to Ethereum’s ERC-20 and ERC-1400 token standards. ERC-20 tokens are the most popular type of token in the cryptomarket at this time. Erc-1400 tokens are security tokens that operate on the Ethereum blockchain. ST-20 tokens borrow the best features from both of these standards.LoopringLoopring is a 100-percent open-source decentralized exchange. The platform features a powerful user interface and trading tools. The firm’s focus on an exceptional UX is what made their platform the perfect choice for Polymath’s project. Additionally, Loopring is available in a mobile app.DEXDecentralized exchanges are the natural evolution of the cryptomarket. These exchanges function on a peer-to-peer premise which greatly reduces the risk of hacked or stolen funds. Analysts predict a stark rise in the number of DEXs in operation over the coming months.Polymath ST-20 Continues to ExpandPolymath’s latest test is sure to bolster the firm’s already excellent positioning in the market. Analysts continue to point to liquidity as the main choke point for further security token adoption. The inclusion of DEXs could change this situation in the near future.The post Polymath Proves DEX Security Token Concept appeared first on Securities.io.
Securities.io

Polymath: If Placed On a DEX, Security Tokens Can Be Compliant

CoinSpeaker Polymath: If Placed On a DEX, Security Tokens Can Be Compliant It seems that this Security Token Platform decided to upgrade their existing capital markets infrastructure in order to take advantage of blockchain technology’s benefits. In order to make this upgrade possible, they said that they are aware that there are needs to be a standard for security tokens that utilizes these benefits while satisfying regulations. They wrote: “With a standard in place, security token issuers, investors, exchanges, wallets, custody providers, and regulators can become comfortable with this technology, interoperability becomes easier, and adoption can be widespread. Similar to how the ERC-20 standard enabled the boom in utility tokens on the Ethereum blockchain, there needs to be a standard for security tokens.” The standard they have built at Polymath is ST-20. ST-20 is an extension of ERC-20 that introduces the ability to restrict transfers of blockchain tokens. ERC-20 tokens do not have any transfer restrictions and therefore can be freely traded by anyone. When dealing with securities, all securities holders must be KYC/AML verified, and there are many additional restrictions on the distribution and trading of securities. ST-20 is the solution to this problem. It allows security token issuers to maintain regulatory compliance through transfer restrictions. It is also backward compatible with ERC-20 making it interoperable with much of the existing blockchain infrastructure available today. Certain Criteria Have to Be Met The ST-20 security token standard created by Polymath is an extension of the more generalized ERC-1400 standard that introduces the ability to restrict transfers of blockchain tokens. Polymath said: “They can only be held and traded if certain criteria are met.” Giving the details of the test, Polymath said that it traded a cryptocurrency called “wrapped ETH” with an ST-20 token named Cammazol, with an authorized transfer for the token succeeding and an unauthorized one failing to transfer. Polymath vice president for marketing Graeme Moore said that the two firms carried out the tests to demonstrate that security tokens can be traded in a compliant manner, even on decentralized exchanges. Moore said: “What we are showcasing here is that decentralized exchanges and security token issuers have the ability to maintain compliance through the standardized protocols that Polymath and others have built. And, in fact, security tokens make it easier for issuers to follow regulations, when compared with the legacy capital markets system using paper share certificates.” Polymath also explains that, whenever a trade is attempted, the token asks for external validation from what is referred to as its transfer manager module. If this module goes on to validate the transaction, the STO is added to a whitelist to see whether or not the buyer/seller are allowed to complete a trade of this kind of token. This can only be executed if there is an affirmative from the manager module. Moore concludes: “This is how tokens are able to maintain compliance in the secondary market throughout the entire life-cycle of the token.” Adam Dossa, the director of technology for Polymath said that Loopring’s focus on user experience with their protocol was a great match for Polymath powered ST20 tokens which support an enhanced feature set on top of ERC20 to allow transfers to be fully validated before execution. Bear in mind that in January this year, Polymath announced that they will be locking up around $9 million worth of its tokens for the next five years. This means that up to 75 million of its POLY tokens, which is 7.5% of the total supply, will be unavailable to issuers for the foreseeable future. Also, in June last year, the leading trading platform for alternative asset, OpenFinance Network (OFN), has reached an agreement with Polymath, according to which the Polymath-powered security tokens will soon be added to the OFN’s offerings. * We’ve created most comprehensive guide, which will help you figure out what STO is, how it works, and what’s hidden behind this industry’s disrupter. You can also check the latest Security Token Offerings (STOs) in Coinspeaker’s STO Calendar. Polymath: If Placed On a DEX, Security Tokens Can Be Compliant
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TokenSoft Rolls Out Unique Custody Solution Designed for Security Tokens Specifically

CoinSpeaker TokenSoft Rolls Out Unique Custody Solution Designed for Security Tokens Specifically TokenSoft has helped other companies with custodial issues already in the past, but now the company is focused on the launch of its own wallet, which will enter in beta testing soon. The product will be named Knox in a reference to Fort Knox, where the U. S. Army stores its gold. TokenSoft co-founder Mason Borda said: “It provides the highest level of security when it comes to storing digital securities, which are newer to the market. The digital asset industry’s been comfortable with storing [coins] for the last few years, digital securities are kind of new ground.” He also explained how digital securities differ from cryptos in that they tend to be less decentralized and have built-in restrictions for traders, while digital assets such as Bitcoin suffer from no such restrictions. Further, digital securities can be asset-backed tokens, representing equity, debt or real estate, as some examples. Borda called the Knox wallet “the first custody solution for digital securities,” adding: “I think it’s a key piece of infrastructure that the industry has ignored up until now, and this puts it on the map as a key piece of infrastructure that’s necessary to service digital securities.” In developing Knox with the team, Borda leveraged his pedigree in building institutional grade custody solutions from having worked in the early stages of Goldman-backed BitGo. The Knox wallet can hold any ERC-20, ERC-1404, DS-20 (Securitize), ST-20 (Polymath) or Harbor’s R tokens. It also will support Bitcoin and Ethereum, though Borda emphasized that the focus would remain on digital securities rather than cryptocurrencies. However, such securities can be built on top of the ethereum, stellar, R3 or Hyperledger blockchain platforms. Borda said: “We built Knox for our clients of all types who are launching asset-backed tokens and collectively are planning to place over $1 billion in digital securities on to the blockchain in 2019. As these assets arrive on the blockchain, there should be adequate solutions to secure them.” Incorporating Three Levels of Security Knox incorporates three levels of security: offline cold storage, role-based access control, and cryptographic authentication. They said they are expecting a number of types of enterprises to use Knox Wallet, including exchanges that could use it to manage and administer assets trading on their platform. Knox further bolsters TokenSoft’s security-first software support for digital assets, giving issuers an enterprise grade tool for managing their securities and cryptocurrencies. Through TokenSoft’s platform, issuers can take actions, such as reducing the number of outstanding shares (or tokens), increasing the number of shares outstanding, or creating a separate class of shares. Moreover, since it’s an enterprise grade tool, it also gives users the capability to take actions, such as reducing the number of outstanding shares (or tokens), increasing the number of shares outstanding, or creating a separate class of shares. Along with the Beta version announcement, the company invites those who are interested for a demo to signup. The product itself is currently undergoing a testing phase and will be available in full version on the first quarter 2019. Two weeks ago, Borda in his blog post has expressed optimism that 2019 just may be the year security tokens begin to form a significant sector of the blockchain space. He wrote: “We’ve seen a variety of sources predict that security tokens will represent 10% of GDP by 2024 (which equates roughly to $8 trillion). Those involved in the space certainly experienced the slowdown in the 2nd half of 2018… Many jumped into blockchain projects without the understanding of whether their blockchain-based instruments were securities, which would require adherence to securities regulations.” Just for a reminder, in December last year, then newly launched TokenSoft Global Markets LLC. said that as a result of the deal, they will enable issuers to choose whether to host a token sale themselves or work with a broker-dealer to manage the token sale on their behalf. * We’ve created most comprehensive guide, which will help you figure out what STO is, how it works, and what’s hidden behind this industry’s disrupter. Enjoy! Also, you can check the latest Security Token Offerings (STOs) in Coinspeaker’s STO Calendar. TokenSoft Rolls Out Unique Custody Solution Designed for Security Tokens Specifically
Coinspeaker

TokenSoft announces ‘Knox Wallet’ – A Mobile Custody Solution for Security Tokens

AnnouncementTokenSoft has been off to the races in 2019. Today, the ambitious company announced the beta-launch of their newest service – a mobile custody solution for digital assets, including digital securities. This service is known as the ‘Knox Wallet’. It should be noted that this is a beta-launch.This custody solution comes on the heels of another recent custody announcement by TokenSoft, which will see them refer Coinbase as a third-party custody solution to their clients.Knox WalletThe wallet represents one of the first mobile, cold-storage solutions for securing digital securities. Much of the draw towards digital securities is security.  As a result, it should come as no surprise that this played a key role in product development.The Knox Wallet supports various levels of securityOffline Cold StorageStore keys offline, away from damaging malwareRole-based Access ControlMultiple levels of verification needed to approve transactionsCryptographic AuthenticationAccess restriction through encrypted authenticationsThe role of this wallet is quite complimentary to other services offered by TokenSoft. As the company offers end-to-end solutions for clients wishing to tokenize, TokenSoft can now offer these same clients a sound custody solution.With this development, TokenSoft has the ability to sell, issue, manage, and now store digital securities. This is all while utilizing their very own token protocol, ERC-1404. The wallet also supports other security token standards.  For example, these include Harbor R-Token, Securitize DS-20, Polymath ST-20, and more.For more detailed information on the Knox Wallet, make sure to read the TokenSoft Knox Wallet FAQ.CommentaryTokenSoft CEO, Mason Borda, commented on the release of the Knox Wallet. He stated the following,“As real-world assets enter the blockchain world, it’s important to protect them with the same level of security we treat traditional digital assets…We see this of critical importance given that almost $1 billion of cryptocurrency was stolen by hackers in the first three quarters of 2018 alone.”TokenSoftBased out of San Francisco, California, TokenSoft finds itself as a leader within the digital security sector. Catering to customers like Andra Capital, Hedara HashGraph, and more, TokenSoft specializes in blockchain solutions. Above all, they provide customers with the platform and services needed to issue and manage digital securities.Company operations are overseen by CEO, Mason Borda. At TokenSoft, he has effectively used experienced gained at other blockchain companies such as BitGo, to create the promising company being discussed here today.In Other NewsIn past months, we have detailed TokenSoft a variety of times. While the company has shown no signs of slowing down in the future, here is a look at a few of the articles we’ve written in the past:TokenSoft Global Markets adds Coinbase Custody, expanding Security Token servicesTokenSoft Extends Reach with ‘Global Markets’ERC-1404 : TokenSoft Launches New Security Token StandardThe post TokenSoft announces ‘Knox Wallet’ – A Mobile Custody Solution for Security Tokens appeared first on Securities.io.
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The Growing World of Security Token Protocols

The Growing World of Security Token Protocols Security tokens are one of the fastest growing sectors in the cryptomarket. These tokens allow companies to remain government compliant and utilize blockchain technology to enable more secure business transactions. As the security token market expands, more security token protocols become available to the public. The Right Token for the Job Security tokens contain regulatory protocol directly within their coding. This self-contained script is perfect for use in tokenization scenarios. When a token represents ownership rights to a piece of property, revenue sharing, security or other regulated item, security tokens are the only option. Security token adoption increased significantly in the last few months. Currently, Security tokens make up around 6.54 percent of the total crypto market according to a recent study provided by Hashgard. Service tokens account for the largest percentage of the market at 49.05 percent, followed by utility tokens (25.3%), and hybrid tokens (12.47%). Another report published by ICORating showed that STO growth climbed 1.66 percent during Q3 2018. At the same time, utility token issuance decreased by 10 percent.  More Options Security token protocols come in a lot of different styles nowadays and depending on the functionality of the security token in question, certain protocols are better suited to handle the tasks. Consequently, this need for function-specific security tokens ushered in a wave of new security token protocols.   ST-20 Polymath’s ST-20 protocol was one of the first security token standards to enter the market. The token features integrated KYC (Know Your Customer) and AML (Anti-MoneyLaundering) mechanisms. Polymath users can issue customized security tokens directly through the platform using the simplistic interface. What makes the ST-20 unique is that the token is issued on Polymaths custom built blockchain. The token is hugely popular as Polymath is one of the largest security token launch platforms available to the public. The company was the first firm to launch a global security token conference. As an early entry to the security token race, Polymath wanted to take all the regulatory shortcomings of the ERC-20 protocol and give companies a more secure alternative. The firm succeeded in creating a widely used security token standard. SFT (Secured Financial Transaction Protocol) The SFT protocol entered the market on November 28, 2018. This security token protocol uses Solidity. Solidity is a programming language used by Ethereum developers. SFT tokens live on the Ethereum blockchain. This protocol features many of the robust and modular features found in the popular ERC-20 protocol such as easy smart contract programming.SFT tokens enable the tokenization of debt and equity-based securities. German-based Hyperlink Capital entered the market on July 1, 2018. The development team created the SFT protocol for their digital securities platform which is intended to expand adoption of blockchain-based capital markets. The company has a history of activity in the blockchain space. Recently, Hyperlink Capital’s focus is on tokenized securities. ERC-1450 News of the ERC-1450 protocol entered the market in November 2018 via a medium post by StartEngineFounder Howard Marks. This protocol was developed for creating digital stock certificates. The company behind the protocol, StartEngine Secure, seeks to offer entrepreneurs democratized access to funding. StartEngine Secure entered the blockchain sector in2012 shortly after the signing into law of the Jumpstart Our Business StartupsAct which was an effort to provide access to more capital for startups. The platform features full transparency and a registered transfer agent updates ownership details in accordance with securities laws. The data is published via the Ethereum blockchain. CAT-20 / CAT – 721 The CAT-20 and CAT-721 protocols are the world’s first multi-ledger security tokens. These tokens can be transferred across blockchains including Ethereum, Ripple, EoS, GoChain, and Stellar. Tokens issued on CAT-20 and CAT-721 protocols support Securrency‘s full suite of token issuance tools. Washington-based Securrency entered the market in2015. The Securrency platform features an automated source of funds verification system and an easy to learn user interface. Additionally, the company behind the protocol, Securrency, employs a Service and Rules engine which maintains compliance across secondary market trading. DS Protocol The DS protocol is an open-source development infrastructure designed around the needs of the security token industry. TheDS Protocol is open-source and designed to support third-party applications. Tokens issued on this protocol reside on the Ethereum blockchain. Securitize issued the DS Protocol on Jun 5th, 2018 via a press release. DS includes integrated compliance and registry services. Also, token holders receive regular updates about relevant events via their tokens. The DSProtocol focuses on creating more liquidity within the security token arena. R-Token The R-token standard entered the market on February 6th, 2018. R-tokens are ERC-20 tokens with built-in regulatory smart contracts. The regulatory services of these tokens configure to meet the needs of the issuer. The R-token standard features integrated KYC, AML, and taxation services. Harbor developed the R-token protocol for use within their popular token issuance platform. In April 2018 Harbor successfully raised $28 million to further development into their tokenized securities platform.  SRC20 The SRC20 protocol allows users to tokenize any item. The protocol is a cryptographic standard with integrated governance. Users can tokenize securities, buildings, farms, businesses, hedge funds, and even ownership in development projects. The flexibility of the SRC20 token is its strong point. SRC20 operates on the SWARM platform. The SWARM platform incentivizes users for their positive contributions. The platform learns from your fundraising campaigns and uses the data to facilitate a more user-friendly experience every time you start a new campaign. tZERO The tZERO protocol integrates the benefits of blockchain technology into the existing market systems. ThetZERO platform will one day facilitate both the issuances and easy trading of security tokens. The developers seek to create the first national securities exchange specifically designed for security tokens. tZERO is the direct result of a strategic partnership with BOX Digital Markets. Earlier in the year tZERO filed an SEC form D. Form D is required by companies that seek to issue securities. IF the form is approved, tZERO would be the first SEC regulated security token issuance/trading platform in the cryptospace. More Security Token Protocols on the Horizon The Security token sector is just heating up and you can expect many more entries into the market as the year wraps up. Companies want the benefits of blockchain technology and security tokens provide these features without worry. It will be interesting to see how each of these protocols fair in the coming months as the market’s competition increases. The post The Growing World of Security Token Protocols appeared first on Securities.io.
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BANKEX Token Exchange Launches as a New Security Token Trading Platform

Issuing and trading of security tokens are emerging as a modern and efficient way for startups in the blockchain scene to raise funds. In 2017, over $5 billion was made available to startups through ICOs, a new model of issuing crypto tokens to the public in a similar fashion to share trading with the public offering of companies. BANKEX, the leading Fintech Company, recently established its token exchange to facilitate the trading of security tokens alongside the utility models. The BANKEX Token exchange will support multiple token standards such as ERC-1400, ST-20 and the ERC-888 model that incorporates KYC verification methods. According to BANKEX, its experience and familiarity in the issuing of security tokens was a cause to the launch of their first STO framework. The platform intends to lend services that will cover the entire life cycle of a security token under a diverse set of regulatory framework for tokenization. The services will include BANKEX's digitization, secondary market trading, and burning. These solutions will be accommodated via the BANKEX Digital Deal and will meet both the AML and KYC requirements. Choosing BANKEX's Token Exchange There is evidence of a growing interest in assets getting tokenized at a fast rate within real estate, venture funds among other industries, new startups are adopting the STO model, and with BANKEX's seeks to establish a foothold within the market. The move could become a game-changer for startups because they can safely develop and maneuver themselves in the securities landscape thanks to the BANKEX token exchange. BANKEX, for example, stores its digital assets in the BANKEX Custody service. The cold storage of the Custody services ensures the assets are not lost, and businesses don't experience issues of insecure storage. The storage database server is also secure from human interference since BANKEX's only uses electronic modules to access it. In essence, the wallets under the Custody Service are encrypted, and hacking would need a whole series of nested keys kept within the Hardware Security Module (HSM) on the Amazon cloud. BANKEX's introduction of their token exchange also presents a new opportunity for algorithm-based spot traders in the crypto market. Since its permits high-frequency trading (HFT) and implementation of the Application Programming Interfaces, users can select their strategies, program their instruction and execute the broker plans. In the future, the BANKEX Token Exchange intends to introduce margin trading in connection with liquidity providers. What Next BANKEX is also in line to acquire its license from Malta's Financial Services Authority through the Virtual Financial Assets Act service provider. But achieving the Maltese license is the first step to growing BANKEX's reach. The token exchange is also seeking permits from financial authorities in the United States, Switzerland, South East Asia, and the Cayman Islands. About BANKEX BANKEX is a top Fintech company providing Bank-as-a-Service on blockchain options and the development of the Proof-of-Asset protocol. Its primary product, the POA protocol, utilizes the ERC-20 utility token for payment purposes and the creation of the Smart Assets in the ecosystem.
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Researcher Breaks Mimblewimble, Deanonymizing 96% of Grin Transactions

The Mimblewimble privacy technology used by cryptocurrencies such as Beam and Grin is broken. That’s the claim of researcher Ivan Bogatyy who has published a report documenting his findings. In it, he reveals how he was able to deanonymize 96% of all Grin transactions just by running a node at a cost of around $60. Bogatyy asserts that the flaw is fatal, effectively breaking Mimblewimble. Also read: IRS Dispels Crypto Tax Confusion Mimblewimble Is ‘Fundamentally Flawed’ “Mimblewimble should no longer be considered a viable alternative to Zcash or Monero when it comes to privacy.” That’s the belief of Ivan Bogatyy after deanonymizing the bulk of all Grin transactions that propagated to his node during a test. A weakness in the Mimblewimble technology, which obfuscates all transactions by default, has long been theorized. Now, Bogatyy professes to have proven this, causing him to recommend that “Mimblewimble should not be relied upon for robust privacy.” Although the attack does not reveal the amounts being sent, it unveils which addresses are sending funds to other addresses, effectively rendering Mimblewimble obsolete, if a patch cannot be found. Moreover, Bogatyy claims had he been running multiple nodes, he would have been able to record an even higher success rate than the 96% he posted. How the Attack Works Cryptocurrencies such as Grin and Beam utilize a number of privacy techniques including Coinjoin, which all transactions are appended to, before being added to a new block, the contents of which cannot be reconstructed at that stage to determine the origin of the inputs and outputs. Bogatyy’s solution is to attack the transactions as they’re broadcast to Coinjoin to be mixed. He explains: Because transactions are continually being created and broadcasted from separate places, if you run a sniffer node that picks up all transactions before cut-through aggregation is finished, it’s trivial to unwind the CoinJoin. Any sniffer node can just observe the network and take note of the original transactions before they get aggregated. Grin’s developers were aware of this attack vector when constructing the cryptocurrency and took measures to thwart it through the use of additional privacy tools including Dandelion. This technology conceals the IP address of transactors and thwarts sniffer nodes that attempt to eavesdrop on network activity. But because Dandelion transactions are automatically aggregated by nodes that receive them, prior to entering Coinjoin, Bogatyy found a way to intercept them at this early stage and link them to their original sender. Through increasing the number of peers his node connects to (the default is eight), the researcher was able to escalate his access, effectively granting him supernode status. This provided unprecedented oversight of Dandelion transactions, and the ability to disaggregate them before they reached Coinjoin. Bogatyy linked 96% of transactions while connected to 200 peers out of a possible 3,000, but points out the ease of connecting to all 3,000 nodes had he spent more on the attack, noting: The same attack works by launching 3000 separate nodes with unique IPs, each only connected to one peer. As long as I’m sniffing all the transaction data and dumping it into a central master database, the attack works just the same. Grin developer David Burkett praised the quality of research in Bogatyy’s report, but added: “none of this is “news”. I’m actually surprised only 96% was traceable. There are a number of ways to help break linkability in Grin, but none are implemented and released yet. As I always say, don’t use Grin if you require privacy – it’s not there yet.” A Sliver of Salvation for Grin Despite making grim reading for Grin and other Mimblewimble coins, Bogatyy’s report does provide a glimmer of light. He is at pains to point out the other qualities that are inherent to Grin, such as its ability to conceal transaction amounts, though this will be of small comfort to users who were relying on Mimblewimble to obfuscate the path of their transactions. The researcher suggests that Mimblewimble could be combined with another privacy protocol that conceals the transaction graph altogether, but that would be a significant undertaking to implement and is not feasible at this time. This suggestion was echoed by Charlie Lee, whose Litecoin project is looking to introduce Mimblewimble through a collaboration with Beam. As Bogatyy concludes, “it’s clear that Mimblewimble on its own is not strong enough to confer robust privacy.” Grin has fallen 10% since the report was published earlier today, and beam 6%. One small crumb of consolation to Grin’s developers is that the exploit could not have been revealed at a better time: the project has just received a 50 BTC donation to fund its development courtesy of an early bitcoin miner. Thanks to this $420,000 war chest, it has the means to fight back in the hope of engineering a solution. Do you think Grin’s developers will be able to find a solution to this problem? Let us know in the comments section below. Images courtesy of Shutterstock and Coincodex. Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry. The post Researcher Breaks Mimblewimble, Deanonymizing 96% of Grin Transactions appeared first on Bitcoin News.
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MakerDAO Launches Its New DAI Token Today, Multi-Collateral Dai (MCD)

MakerDAO, the organization behind the DAI stablecoin, has just launched a new DAI token now. Named as Multi-Collateral Dai (MCD), the new cryptocurrency will also be a stablecoin in the same way that the old DAI was. This new token will be backed by several kinds of assets, a contrast with the single-collateral DAI (SCD), […]
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UK TaskForce (UKJT) Addresses The Legal Status Of Cryptocurrencies And Smart Contracts

Cryptocurrency adoption has seen great progress in 2019 where several countries have come out to regulate crypto under new laws or categorized them under the existing ones. The latest country to address the status of digital assets is the UK where the Jurisdiction Taskforce of the Lawtech Delivery Panel made available an announcement concerning their […]
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Multi-Collateral Dai goes live with Ethereum and BAT as collateral

MakerDAO (MKR) transitioned to the long-awaited Multi-Collateral Dai (MCD) system that allows Basic Attention Token (BAT) to be used as collateral in addition to Ethereum ahead of other tokens. AccordThe post Multi-Collateral Dai goes live with Ethereum and BAT as collateral appeared first on AMBCrypto.
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Retired Workers to Get Petro Crypto Credits in Venezuela Per President’s Latest Announcement

The president of Venezuela Nicolas Maduro has declared something interesting about the national digital currency Petro. It is going to be used for paying a Christmas bonus to the retired workers and pensioners in the country. This report was from the Twitter page of local media agency Venepress. Maduro anunció “aguinaldo” de medio Petro para […]
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