HYBSE — Ready for the Future of French Securities Trading
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A guest contribution by “Jones”
Disclaimer: This article is for educational purposes only and does not provide financial or investment advice. The reader is aware that there are special risks involved in dealing with blockchain and cryptocurrency assets.
The french government announced plans to allow unlisted securities to be traded on blockchain based exchanges — DIMCOIN and its HYBSE (Hybrid Stock Exchange) are developing an ecosystem facilitating the platform to do that. This looks like some good momentum for DIMCOIN!
Recently, on December 8 2017, the French government announced its plans to allow unlisted securities to be traded on distributed blockchain ledgers. Since Brexit, the French government has made a number of new changes to facilitate Paris in becoming more important for financial innovation, which have included payroll tax cuts to labor reforms, and more. Now, the Prime Minister is allowing French banks and fintech companies to list their securities on an online exchange underpinned by blockchain technology. The concept allows securities — such as stocks, EFTs, and commodities, to be traded peer to peer without middle men like brokers and custodians. However, currently listed securities on financial exchanges will be ineligible and still be required to go through custodians and clearing houses.
So how will this exactly happen? And when will this happen? The advantages are monuments for global trading. Currently, no blockchain platform exists to implement this concept. However, the DIM Ecosystem seems to align perfectly with the French Prime minister’s recent news. The DIM Ecosystem is already in motion and under development.
The DIM Ecosystem is a Perfect Match
The DIM Ecosystem is a multifaceted project which initially launched its ICO in July 2017. The ICO raised over 14 million USD. The paramount of the ecosystem is the Hybrid Stock Exchange (HYBSE). As outlined in the whitepaper nearly six months prior to France’s recent announcement, the HYBSE will allow small and medium sized companies to trade securities on the NEM blockchain platform — from anywhere in the world, to anywhere in the world — instantly, with much lower fees. Other facets of the project include DEPOTWALLET, which will enable the storage of various cryptocurrencies as well as fiat currencies and the payment solution DIMPAY which will be a mobile wallet allowing the storage and usage of currencies anywhere in the world.
DIMCOIN is based on the NEM blockchain which is already a well known and well functioning platform. Additionally NEM and Trezor announced that NEM will be integrated into the Trezor hardware wallet platform with the next firmware update. This means you can secure your assets on the NEM blockchain (including those from DIMCOIN) on the Trezor hardware wallet.
DIM is very strict on being legally complaint and they are going through the necessary paperwork needed for the launch of HYBSE in mid 2018. As of now, 10+ companies are confirmed to be listed on the HYBSE at launch and the number will continue to climb. At this moment, due to legal obligations, the DIM Foundation cannot reveal which companies will be listed. The recent news would allow French companies to easily list on the HYBSE with a lot of the red tape being already cut with this announcement.
Both DIM and France’s visions of an online exchange to trade securities seems to align perfectly. Only time will tell the success of HYBSE and DIM as the future of Equity on the blockchain. But this could bring them one step closer.
Sources/Further Reading
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