Welcome to the first of a regular series of updates on our development progress. We want you, our community and token holders, to be kept updated with our development news. We’ll use these updates to share our progress, our plans and our challenges with you.
Priorities for this sprint
These are our four priority areas this week… mostly improvements building on our basic concepts and modules.
Technology spotlight
Introducing investor accounts
An investor can have multiple share/equity accounts on our platform, holding a number of equity tokens and positions in a varied portfolio. Each equity account represents the crypto-address which holds the tokenized equity. Like a bank account or trading account number (IBAN) in the traditional world, the investor’s equity account is used to buy or sell equities across multiple offers. One equity account can be used to hold multiple equities. This reduces the need to maintain and manage multiple addresses and accounts and provides an easier and simpler portfolio view per investor.
Custody concepts introduced for equity tokens
An investor can hold and trade equity tokens in their own name or they can transfer the account custody to an individual or an institution (e.g. bank, broker, exchange). The custody over an account is achieved through the ownership of a “Chainium address”. A “Chainium address” is required to use our blockchain platform. By giving custody to someone else, an equity token holder doesn’t need to create and manage his/her own portfolio, as this is managed via the custodian. This concept is similar to the traditional equity world where an investor can have multiple trading accounts, bringing the best of both worlds together, and allowing third party services to use our network. The broker or trader acts upon investor instructions and buys or sells shares in their name.
Next week — we’ll share sprint priorities and provide a further snapshot of our technology concepts and business processes.
Chainium has rebranded to Own. For more information about our brand change please read this medium post.
