In the spring of 2019, the Norwegian Business Registry www.brreg.no developed an infrastructure that allows businesses to publish their shareholding and ownership structure. The solution allows third parties to interact with the registry and create value-adding services.
The Norwegian Business Registry aims to make the shareholder registry open for service development
A blockchain infrastructure (Ethereum) serves as the foundation for the registry and enables public and private organizations to take part in developing contents and services. The first release of the code has a number of limitations; there are few integrations with existing business registries and authentication services. Using a software developer kit (SDK), an interested party may work around such shortcomings and develop any number of services, reports and analytic tools. Prior knowledge of blockchain is no prerequisite — the SDK and the associated documentation will provide sufficient support for any talented developer.
Apart from the SDK, developers may interact with the blockchain by way of:
- REST API
- Interactions directly to the smart contracts using the ethers.js framework
- Developers with prior knowledge of Ethereum may use the Solidity programming language to publish new smart contracts that extends the capabilities of the shareholding registry.
Government-issued ERC1400 tokens for stocks
Said in another way. This is ERC1400 tokens on the Ethereum blockchain accepted by the Norwegian Government. An application has been sent, to take this project up to the EU level, so that a future version can be a cap table solution for companies in all EU & EEA members states.
Please indicate your intention to explore this public/private partnership using the link above. Responses are non-binding, but much appreciated when deciding on a suitable location.
Requirements for attendance
The purpose of the event is to actually build solutions. People without coding skills are welcome to attend the concluding summary but may find the event itself less useful. Developers and media are welcome to attend at any time.
Throughout the event, the participants will have access to subject matter experts on blockchain (developers from Blockchangers), legal experts and software architects capable of explaining the domain and the structure and requirements of existing registries. The source code and APIs will be distributed to the attendants in advance. All documentation is provided in English. If the documentation fails to support your requirements and expectations, you are welcome to withdraw the registration by re-submitting or by way of email to firstname.lastname@example.org.
To reserve a suitable location, we would much appreciate a reply as quick as possible, and no later than 10 August. Please use the registration form to note down special requirements or requests.
I guess that you have some questions before committing to this. Please don’t hesitate to hit me up on email@example.com!
Screenshot from the block explorer
The nature of the solutions that may be developed
Please note, some of the suggestions below requires an ability to program smart contracts (Solidity) or to interact with existing registries that are not currently part of the shareholding registry. The suggestions below are examples, not a complete listing of possibilities.
- The ability to decipher and analyze ownership structures in a single company, a family of companies or for any grouping of companies
- The ability to add shareholders and transfer shareholding from one to another
- Identifying transaction between related parties
- Making the trade in shares dependent on company by-laws or shareholder agreements — that is the ability to create contracts that enforce themselves
- Develop tools to raise capital, maybe through auctions or crowdfunding
- Calling a general meeting of shareholders and arranging for a vote among the shareholders
- Using shares as collateral
- Allowing a trader to sell shares on behalf of someone else, based on a set of prearranged conditions
- Paying dividends
- Creating tax returns