The real STO market outlook: near death

The market for tokenized securities is lifeless. Nobody is buying these securities. A…

SAFT is dead. Long live SAFTER

Over the past six months, SAFTs have become a popular way to help ICO issuers comply with securities laws. However, SAFTs are now obsolete. They should be replaced by similar securities that more cleanly separate the security from the utility token, and give issuers and…

A first: Delaware stock on the blockchain

Companies in the United States manage more than $5T of private stock, with an estimated $15T available globally. Converting the old stock certificates to programmable securities gives the issuer more precise control, more liquidity, and the potential for…

A shareholder registry for blockchain securities

A registry is a list of shareholders with a real name and address, rather than just a blockchain address. Almost all countries require a stock issuer to keep a registry of shareholders. There are two reasons for this:

Four types of digital assets

The four categories of crypto tokens or “digital assets” are open source cryptocurrencies, ICO coins, Reg D compliant initial offerings, and tradable securities. If you are considering issuing your own assets, or handling existing assets, you should understand where they fit in…

How to make an awful tokenized fund that nobody will buy

You might think that being a fund manager is great work if you can get it. Managers that successfully raise funds from investors have the potential to make a lot of money, and also collect steady fees, without ever putting their…

The dual-token ICO is legal even in the US

Sometimes, you really need a utility coin. You want to use it for payments between machines. You want to exchange it freely. You want to distribute it as an incentive to customers and compute providers. And, you want to do this globally, in a way that…

Security Smackdown: Art versus Real Estate Fund

Launching Aboveboard for blockchain securities

We’re launching Aboveboard to issue international securities on public blockchains. We are harnessing the energy and machinery of the ICO market, currently a $6B market, and applying it to the much bigger universe of real stocks and bonds, which…

Governance of security tokens

Securities can be outstanding for many years, while a company works with its investors. An issuing company needs to manage the related security tokens or “programmable securities” for their full life cycle. That management requires governance — some rules about who does what…