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tZero Affiliate BSTX Seeks SEC Permission to Launch Security Token Trading Market Based on ETH

An Overstock's tZero affiliate is looking for legal jurisdiction to instigate a market where registered security tokens will be traded publicly. On Friday, the Securities and Exchange Commission unleashed a rule change proposal that will authorize Boston Securities and Token Exchange to come up with an equity trading platform. It will be automated and have […]
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tZERO and BLOQ FLIX to supposedly tokenize films

tZERO partners with entertainment financing company BLOQ FLIX to tokenize films, or at least that’s what they say in their press release published on the 12th of September. The reality is actually quite different and this is a pure misrepresentation of the truth. tZero is going to provide Bloq Flix with the technology to tokenize entertainment financing, and the company is going to collect investments by selling the token at a flat rate of $5000 per unit (a unit consists of 5000 tokens) hoping to collect $20 million USD or rather sell 4000 units. Investors would receive 12.5% APR (annual percentage return) and their original investment after 18 months, according to their memorandum. The major issue is that this token will not change anything except create a small bubble of capital that is free to be loaned to major production studios, such as Netflix, Hulu, BBC, Hallmark, as detailed in their accredited investment memorandum. On the other hand, their website shows a different set of A-list Hollywood studios. Warner Bros, Columbia Pictures, Lions Gate, Universal Pictures and others. All of these are major studios in direct association with this company, which doesn’t bode well for the small films and independent producers. Nowhere in their memorandum can you find a description of how blockchain technology will be used to do anything differently than traditional media financing does already. The proposition is that once investors make their investments, the cash becomes immediately available for usage by Bloq Flix, and investors get tokens in return. The data tracking or tokenization parts of the puzzle are completely missing from any of their public documents. The only thing that this would accomplish is being able to easily identify which investor invested how much. That would make Jumpstart Securities LLC, the designated broker/dealer quite redundant in a data-driven society. It seems that the only reason that JumpStart is a part of this is to minimize the risk of SEC getting involved, by making sure that only accredited investors will participate in the action. We’ve reached out to all of the parties involved with the press release in order to get more information, comments, and clarification, and they responded. Alexandra Sotiropoulos, Head of Communications at tZero gave us a lot of information about their collaboration. We asked her to provide us with some simple answers and help us understand why they are using a token when there are no obvious benefits. She explained: “The security tokens will represent an investment in a film co-finance / production fund. The security will work very similar to a bond. At tZERO, we firmly believe that security tokens are the next generation of how the world will trade value.” We asked, “Why use security tokens, when the traditional model seems just as efficient?” Ms. Sotiropulos responded with “That’s the beauty of our blockchain technology and protocol – an instrument using a traditional financing method can be tokenized, too.” However, when you are issuing securities under crowdfunding exceptions to registration in accordance with U.S securities laws, there are limits to how much you can raise and what each investor can invest, depending on net worth and income. It is really up to an issuer to determine the goals for its capital raise. But whatever path they choose, we can improve the quality and efficiency of their security through distributed ledger technology.” While we believe that tZero, Bloq Flix, and Ms. Sotiropulos have the best intentions at heart, their partnership is about creating a security token that will serve as a representation of investments made to Bloq Flix. The tokens as they are in the current plan and ecosystem, have no real use. Maybe in the future when tokenization becomes more common and adopted by regulatory commissions, we will be able to see this type of token being usable. For now, however, and for the foreseeable future, something like this simply does not work as intended. Photo Credit: Pexels.com
Crypto-News.net

Saum Noursalehi, CEO of tZERO – Interview Series

Saum Noursalehi is the CEO of tZERO, a security token exchange which has the potential to disrupt the entire digital securities space. Previous, to this position Saum was President of Overstock. Before becoming CEO of tZERO, you were President of Overstock, a leader in ecommerce and one of the first Fortune 500 companies to accept Bitcoin. When did you first hear about Bitcoin, and what was your initial impression of this technology? I first heard about Bitcoin in 2013 at a dinner party, and was fascinated by the technology. I did not actually invest in bitcoin until 2014 when I started to learn more about it, which was after Overstock signed a deal with Coinbase to accept it as a payment option.   Could you let us know how you transitioned from being President of Overstock, to CEO of tZERO? I worked at Overstock for nearly 14 years, holding a number of leadership positions in a variety of functions at the company, including technology, product development, R&D and marketing to name a few. Having studied Computer Science in college, I have always had an interest in technology, particularly artificial intelligence and blockchain technology. When the opportunity arose to become the CEO of tZERO, I could not pass it up. My time at Overstock provided me with a strong understanding of product development, leadership and what it takes to run a business, which cultivated my professional identity as a product-focused leader. As a senior leader at a publicly-traded company, I had deep exposure to capital markets and opportunities for transforming the current ecosystem. I believe that this experience and my interest in innovative technology allowed me to transition the blockchain-based capital markets space without too much difficulty.   Patrick Byrne recently offered his resignation as the CEO of Overstock. How will this impact both tZERO and its parent company Medici Ventures? As I said in my recent letter to investors, I was sad to see Patrick go. He is the founder of these organizations, however, his resignation has not impacted tZERO and Medici Ventures’ day-to-day operations or the execution of our roadmaps. Jonathan Johnson, who continues to be the Chairman of tZERO’s board and President of Medici Ventures, assumed the role of Interim CEO of Overstock. Jonathan is a great leader and a champion for blockchain and its potential as a contributor to evolution in a number of ecosystems, particularly its application to the capital markets through tZERO. Jonathan and the Overstock/Medici boards are committed to tZERO and our long-term success.   In July the OSTKO digital preferred dividend was announced. Can you explain the rationale behind this and how it will help to onboard new clients to tZERO? In July, Overstock announced its intention to issue a dividend to its shareholders in the form of new shares of Digital Voting Series A-1 Preferred Stock, OSTKO. A number of OSTKO shares currently trade exclusively on the PRO Securities ATS, operated by a wholly-owned subsidiary of tZERO, and Overstock expects the new dividend shares to likewise trade on PRO Securities ATS. The dividend will be payable at a ratio of 1:10, meaning that one share of Series A-1 will be issued for every ten shares of common stock, Series A-1 or Voting Series B Preferred Stock held by all holders of such shares as of the record date. This dividend has the potential to introduce tens of thousands of Overstock shareholders to the PRO Securities ATS. In addition, it has brought interest from many broker-dealers that would like to trade such securities, which in turn will introduce all of their clients to our platform. One of our key priorities is to introduce more investors to the platform, and this should serve as a catalyst for enhancing liquidity. The dividend is currently in the process of SEC registration and Overstock is working actively with the regulatory authorities.   Ravencoin was the third cryptocurrency added to the tZERO app. Why Ravencoin? Ravencoin is one of the fastest growing cryptocurrencies. Additionally, Ravencoin is philosophically aligned with tZERO in making it easy to digitize assets and make them freely tradable. Ravencoin technology allows for straightforward issuance and on-chain transfer of any digital asset, including security tokens, making support for RVN cryptocurrency a natural fit for tZERO’s Crypto app.   Adding security tokens such as BCAP and SPiCE on tZERO would speed up adoption of the entire digital securities ecosystem. Is there an expected date for when more tokens will be added to tZERO? PRO Securities is currently conducting due diligence on security tokens that utilize Securitize’s DS protocol, and we are excited about this potential to offer new assets, which will in turn attract new investors. We are aiming to have additional tokens trading by the end of the year.   You’re aiming to launch the first regulated National Security Token Exchange with Box Digital Markets sometime in 2020. Can you share with us some details regarding this partnership, and how it benefits tZERO? We continue to work with our partners at BOX Digital Markets (BOX) on launching the first regulated national security token exchange through our joint venture, the Boston Security Token Exchange (BSTX), in 2020. With BOX’s experience in building and operating a sophisticated securities exchange and tZERO’s industry leading blockchain technology, we have brought together our organizations’ combined expertise to fundamentally improve the marketplace for digital securities. We continue to make progress and work together to establish a technical and regulatory structure that will be in place ahead of the launch of the exchange.   Where do you foresee digital securities being in five to ten years, and tZERO’s role in this? Within five to ten years, I expect capital markets to evolve into a blockchain-based ecosystem where not only equities and fixed income on Wall Street will be tokenized, but also other non-traditional assets, such as real-estate, film, art, sports teams, athletes or anything of value. Blockchain technology has great potential to increase transparency, reduce friction costs, enhance regulatory compliance and reform the role of traditional market participants. The average retail investor will have access to the types of assets that were previously reserved for just the wealthy or connected. I see tZERO spearheading the effort of providing a platform for the next generation of asset trading.   Is there anything else that you would like to share about tZERO or Medici Ventures? Medici Ventures is committed to advancing companies focused on blockchain technology, and tZERO is the crown jewel of Medici Ventures’s global keiretsu of companies. At tZERO, we continue to work toward our vision of creating a robust ecosystem powered by blockchain technology for investors to have venues to buy and sell digital assets (the PRO Securities ATS, tZERO’s Crypto App and, once established, BSTX), integrating the technology to tokenize assets (tZERO’s tokenization protocol technology) and establishing direct relationships with customers (subject to our wholly-owned subsidiary becoming approved as a retail broker-dealer). Thank you for this great interview. Anyone who wishes to learn more can visit tZERO or our tZERO business listing. You can also follow Saum Noursalehi on Twitter. The post Saum Noursalehi, CEO of tZERO – Interview Series appeared first on Securities.io.
Securities.io

tZERO VP John Tabacco Becomes CDO for Investview

The security token sector just got a little bigger after this week’s announcement that Investview appointed tZERO’s VP, John Tabacco as Chief Digital Officer (CDO). The decision to recruit Tabacco as CDO falls in line with the growing trend of traditional financial institutions entering the blockchain market. It also showcases Investview’s advantageous approach to the crypto space. Investview raised eyebrows amongst the cryptocommunity after announcing its entry into the market. Company executives stated that the firm seeks to be a “leading participant” in the global digital currency arena. As the CDO, Tabacco’s tasks will include guiding the development of the company’s blockchain strategy. Investview seeks to develop a blockchain ecosystem in the coming months. Investview Enters the Crypto Space Notably, Investview intends to enter the market in a major way. Already the company announced plans to provide users with a compliant crypto trading platform which includes digital currency and security token integration. Additionally, the firm wants to host a series of educational and awareness programs. John Tabacco via Twitter 25+ Years of Experience – Tabacco There is no doubt that Tabacco will call upon his over 25 years of experience to provide recommendations and guidance. A quick glimpse at Tabacco’s resume and it’s easy to see that he possesses the experience to bring Investview’s plans to fruition. Discussing the decision, Tobacco spoke on his network throughout the blockchain community. He said that he intends to leverage these relationships to expedite Investview’s entry into the blockchain sector. Innovation is King – Tabacco Tabacco also discussed Investview and its forward-looking stance. He stated, “I have not seen a better platform than the Investview ecosystem to implement the education and innovation I envision.” Medici Tabacco was also a critical player in the founding of the Medici crypto ecosystem. He operated as the firm’s VP of technology. These tasks included working directly with developers. Consequently, his team received numerous blockchain patents during the development of the platform. Importantly, Tabacco currently host’s a popular cable-TV show – LiquidLunch. The show has been on the air for 15 years with a reach of around 100 million households. The program extends his network to a global audience. Tabacco – Impressive Resume Tabacco wasn’t the only company executive to speak on the appointment. Investview’s CEO, Annette Raynor touched on Tobaccos’ impressive resume. She explained that his experience will be paramount in the execution of the company’s blockchain strategy. Notably, she spoke on Investview’s plan to provide affordable and reliable big data, digital currencies, and processing services to the market. Investview Investview is a FinTech firm that offers a wide range of enterprise-level products to the public. The company is publicly traded under INVU: OTCQB. The company seeks to operate in full compliance and has filed multiple times with the SEC.  Recently, the company appointed Jayme McWidener, CPA, as its Chief Financial Officer (CFO). Smart Moves Investview appears to have a successful strategy in place. Hiring Tabacco was an excellent way to ensure the company accomplishes its tasks in the most efficient way possible. You can expect to see this platform operational in the coming year. The post tZERO VP John Tabacco Becomes CDO for Investview appeared first on Securities.io.
Securities.io

Investview (OTCQB:INVU) Appoints Former tZERO VP, John Tabacco as Chief Digital Officer

Salt Lake City, Oct. 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Investview Corporation (OTCQB:INVU) is pleased to announce the appointment of John Tabacco, former tZERO VP, as Chief Digital Officer. Mr. Tabacco will lead the Company's expansion into compliant cryptocurrency trading and education products. John Tabacco is a globally recognized thought leader, and one of the foremost early adopters, inventors and innovators in Crypto and Blockchain space. Mr. Tabacco will serve as the Chief Digital Officer providing the company guidance and recommendations in developing the technology and forward strategy for its digital currency, security token, blockchain innovation, education and awareness platforms. Mr. Tabacco served on the founding team as one of the architects of the Medici crypto ecosystem as the Vice President of Technology from its inception. In addition, Mr. Tabacco was part of a group instrumental in inventing and creating patents, that today, are granted. He is recognized by the USPTO as an inventor on multiple granted blockchain patents. John Tabacco stated, "I have spent 25 years originating, developing, engineering value and selling companies worth in excess of $500M. My track record is to initiate, instigate, disrupt, and exit. I have strategic investments and relationships with many of the ...Full story available on Benzinga.com
Benzinga

Tokenizing Film with BLOQ FLIX and tZERO

Tokenizing Films It has recently been announced that tZERO has partnered with BLOQ FLIX, with the intent on financing films through tokenization. Films are expensive endeavours, which are constantly in need of fundraising. They are also a prime candidate for transformation through the use of blockchain based financing. Recognizing the potential to disrupt the way films are financed, BLOQ FLIX, has set out to do just that. By turning to tokenization, film projects in need of financing can gain access to large investor pools more easily – increasing the likelihood of successfully completing a project. Tokenization also opens up the potential for investors to capitalize on a lucrative industry – something that has not been possible before. Made Possible by… As this entire process relies upon tokenization with projected returns, companies utilizing the services of tZERO and BLOQ FLIX are, in turn, distributing securities. As the digital securities sector is a highly regulated one, a registered broker/dealer is required to facilitate the process. The company chosen by BLOQ FLIX to fill this role is, none other than, JumpStart Securities. We recently reported on JumpStart Securities, as they will also be lending their services to the highly anticipated expansion of MERJ Digital Exchange. MERJ to Make Entrance in to the United States Growing Trend This is not the first time that tZERO has been attached to the tokenization of a film project. We recently reported on a similar partnership, involving tZERO and Vision Tree, which would see the pair facilitate the creation of a Biopic about gaming icon, Atari. Atari Biopic to Undergo Tokenization through tZERO and Vision Tree Commentary Representatives from each, tZERO and BLOQ FLIX, took the time, upon making their announcement, to comment. The following is what each had to say on this upcoming project. Saum Noursalehi, CEO of tZERO, stated, “Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely.” Brandon Hogan, CEO of BLOQ FLIX, stated, “… We want to lead this charge to disrupt traditional media financing. By embracing blockchain technology, we are streamlining the film and TV funding process and offering funding access directly to mini-major studios, producers and experienced indie producers.” Jonathan Self, CEO of JumpStart, stated, “All of us working together is a huge opportunity for both BLOQ FLIX and investors to facilitate a vision of how media could now be financed. There are enormous synergies in our solution that will enable us to drive immediate value.” tZERO tZERO is a product of Medici Ventures – a blockchain focused subsidiary of Overstock.com. The company is headquartered in New York, and focuses on the development of solutions for advancing the digital securities sector. CEO, Saum Noursalehi, currently oversees company operations. BLOQ FLIX This young company looks to revolutionize the way small and medium budget films are financed. They are doing so through the use of blockchain technologies, allowing for the tokenization of said films. CEO, Brandon Hogan, currently oversees company operations. The post Tokenizing Film with BLOQ FLIX and tZERO appeared first on Securities.io.
Securities.io

tZERO Teams Up With Entertainment Financing Startup BLOQ FLIX To Tokenize Films

Overstock’s subsidiary in charge of tokenizing securities, tZERO has partnered with entertainment financing firm BLOQ FLIX to come up with a technology service which will help BLOQ FLIX to tokenize its financing options in the entertainment industry. The partnership means that the tokenization will be done using tZERO’s protocol technology. According to Yahoo Finance, the […]
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