While an extensive promotion neighbors the potential of blockchain technology, its ability to assign equity utilizing tokens as digital securities has been displayed.
Medici Ventures, the main blockchain accelerator and a subordinate company of Overstock.com, Inc., has properly handled a digital safeties token assign representing its equity holding in Chainstone Labs, a company that is attentive towards digital securities and decentralized strength management.
On the development, Bruce Fenton, CEO, Chainstone Labs said, “Since we are attentive to safeties tokens, it is normal that we have digital safety for the equity in our own organization. The facility of operating digital safeties has the power to alter the way global economy functions. Medici Ventures has the operative proficiency to help us chase this market,”
Bruce Fenton owns Atlantic Financial which is a full-service investment company. He is also the owner of Satoshi Roundtable which is a major invitation-only consortium of industry members.
Medical Ventures procured a 29% stake in Chainstone Labs for $3.6 million. The digital safety was provided by Chainstone Labs utilizing the Ravencoin blockchain which is an open source widespread blockchain raised in order to aid users to generate and govern tokens and digital assets like safeties.
“Ravencoin is an ideal protocol and chain to use for this security token. The aim of Ravencoin is to do one thing and do it well: help users issue tokens and digital assets securely. Tokens, particularly securities tokens, are a promising area for blockchain technology,” Fenton commented.
While the equity token is not presented to the public, the deal, which was telecasted in actual time, displays the ease of assigning equity utilizing tokens as digital safeties. This is also far-reaching as the Chainstone digital safety token is one of the first equity tokens provided utilizing a general blockchain, which is also considered to be the first prime safety token furnished on the Ravencoin system.
Furthermore, Fenton highlights that transferring digital securities is one of the few instances where the implementation of blockchain technology seems to serve a great purpose.
Fenton says that the way ledgers function is one of the primary reasons for the difficulty in owning and shifting of stocks. He also mentioned that Chainstone Labs strives to help people identify a new expanse of securities, especially that of equities, at the same time facilitating their money management.
While highlighting the use of blockchain to transfer digital securities, Jonathan Johnson, President of Medici Ventures, also expressed his confidence that company’s investment in Chainstone Labs would help boost the world economy.