Blockstream Releases First Enterprise-Grade Product on Liquid
Safety tokens are coming to Bitcoin, courtesy of Blockstream.
The Bitcoin and blockchain know-how firm introduced on Could 15, 2019, the ultimate day of the Consensus 2019 convention, that Liquid Securities, a platform for issuing and managing safety tokens on its Liquid sidechain, is able to go stay. This platform will present Liquid and its customers with its first product to situation digital property, a foundational milestone for bringing tokenization to the Bitcoin community.
Launched in October 2018, the Liquid sidechain is an auxiliary community constructed on Bitcoin, primarily to allow low-fee, low-latency transfers between exchanges. Blockstream has at all times marketed the potential for digital asset issuance on the sidechain, a promise it has now fulfilled in collaboration with Liquid Securities’ inaugural companions TokenSoft, BnkToTheFuture, Zenus Financial institution and Pixelmatic.
“That is huge for Liquid, to maneuver from one thing that’s utilized by exchanges towards a extra superior monetary community,” Allan Piscitello, director of product administration at Blockstream, instructed Bitcoin Journal.
Piscitello went on to say that one of many advantages of Liquid Securities consists of having an asset that’s each verifiable and auditable but in addition non-public. When issuing a token on Liquid, an organization can hold particular particulars (like provide, allocation, and many others.) non-public whereas permitting a trusted third get together to audit operations. Which means that enterprises don’t should commerce off privateness for transparency to remain compliant with rules, all whereas leveraging “one of the crucial safe blockchain networks on the earth,” in line with Piscitello.
“We’ve been talking to monetary establishments for the previous yr and one factor that was quite common within the requests they provide is that they’re searching for with the ability to transfer property privately, they’re searching for a scalable answer as effectively,” Mason Borda, CEO of Token Smooth, instructed Bitcoin Journal. “They’re all aware of the Liquid identify.”
The platform comes with quite a lot of issuer controls for tailoring a token to every consumer’s particular use case. They’ll, as an illustration, select to handle tokens by Liquid Securities’ API or outsource this job to one among Liquid’s companions if it’s too onerous.
There are additionally inside controls for managing token issuance based mostly on standards like rules and geographic restrictions, amongst others. Piscitello believes this may assist to tame the “wild west of ICOs” which steadily confront “geographic or regulatory restrictions” throughout token gross sales. It can additionally make it simpler for corporations to situation tokens as a result of they don’t have to roll out their very own sensible contracts, he mentioned.
Providing a substitute for the free-for-all mannequin of the ICO increase, Liquid’s tokenization platform might be a gorgeous choice to regulated gamers, Mushegh Tovmasyan, founding father of Zenus Financial institution, instructed Bitcoin Journal.
“Being a really regulated entity, we’ve been trying to find a compliant answer for our purchasers and shareholders,” he mentioned.
Corporations within the platform can apply for early entry right here.
This article initially appeared on Bitcoin Journal.