Connect with us

Blockchain

MoneyNext Summit Goes Virtual, Live Discussion Panel Starts August 18th, 2020

Avatar

Published

on

MoneyNext Summit Online is the leading virtual event to address the current financial landscape and offer insight and opinion into the future of money. 

MoneyNext Summit Online is a bigger and more complex version of Fintech Friday panel discussion, and is taking place from 18th to 21st August 2020. The event will assist fintech and tech professionals shape the future of money.

MoneyNext Summit Online gives users access to over 30 hours of exceptional content across 4 days and a line-up of 180 speakers – fintechs and disruptors, technology decision makers to discuss, debate and challenge the latest industry trends and future innovations alongside an audience of 5000 people from tech giants and latest startups.

The conference themes that will be in spotlight include Banking Transformation, Payments and Transfers, Blockchain, Open Banking, Lending and Finance, Insurtech and Security. 

Industry captains from Finance and IT will share their trials and successes to help your business adapt and thrive. Some of the top speakers to take the virtual stage in 2020:

RICHARD DAVIES – CEO Banking, Revolut

CRAIG WELLMAN – Director Financial Services, Microsoft

ANDREA DUNLOP – Chairwoman of the Emerging Payments Association

JASON MAUDE – Head of Technology Advocacy, Starling

AMNAH AJMAL – Group Executive – Merchants, Acceptance & Digital Partnerships, Mastercard

LUCY DEMERY – Global Head of FinTech Banking, Standard Chartered

CAROLINE AMBROSE – Director – Open Banking Implementation, Barclays

CHRIS HIGHAM – Head of Strategy & Change – Payments, Virgin Money

STEPHEN INGLEDEW – Chief Executive, FinTech Scotland

BECKY MOFFAT – Global Head of RBWM Customer Marketing, HSBC

NOUAMANE CHERKAOUI – CIO, Société Générale

SIMON VINEY – Cyber Security Financial Services Sector Lead, BAE Systems

The event is completely free to attend. Register now at https://moneynextsummit.com/online/registration and follow #MoneyNextOnline hashtag on social media for the event’s latest updates and news.

MoneyNext is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

Source: https://bitcoinprbuzz.com/moneynext-summit-goes-virtual-live-discussion-panel-starts-august-18th-2020/

Blockchain

Amazing Blocks joins startup and innovation hub TechQuartier

Avatar

Published

on

We are pleased to announce that Amazing Blocks has joined the startup hub TechQuartier (TQ) in Frankfurt am Main, Germany. As the most prominent tech hub in the region, one with a diverse and globally connected startup community and numerous corporate partners, TechQuartier will help Amazing Blocks make strides in the finance capital of Frankfurt. This membership will enable Amazing Blocks to utilize the numerous resources, contacts, and acceleration programs this opportunity provides. Constant expansion of our ecosystem to scale our business is guaranteed by the TQ network for Amazing Blocks. TQ especially delivers stellar networking conditions, a future-oriented community, the chance to work alongside other innovators from a range of industries, and also enables direct access to established global players and academic institutions.

 

About TechQuartier

TechQuartier has been designated by the Federal Ministry for Economic Affairs and Energy as Germany’s “FinTech Hub.” It is located in the financial metropole of Frankfurt and was founded by the city council of Frankfurt, the renowned universities of Frankfurt and Darmstadt, as well as the WI – Bank for innovation in Hesse, Germany. Access to a unique ecosystem of corporates, investors, talents, startups, and mentors is provided to each member. With its vast amount of programs and events, TQ’s mission is to provide innovators with the tools and resources they require to foster growth. Additionally, the partner network is second to none with established players such as Visa, EY, PwC, and others illustrated in Figure 1 below. Moreover, the vibrant startup ecosystem offers over 3,200 square meters of flexible working space for startups, scale-ups, and the innovation teams of established companies.


About Amazing Blocks

Tokenization will inherit a key role in the future of Web 3.0 with billions of dollars expected to be invested in this space by 2027 according to multiple reports. Amazing Blocks supports with its IT solutions the legally compliant tokenization of equity and asset ownership in line with the Liechtenstein Token Act. Amazing Blocks was recently founded in Liechtenstein while using Ethereum as an initial contribution – a significant benefit of the legal framework. Hence bankless incorporation was conducted. Subsequently, we also generated the first-ever equity tokens for an AG in Liechtenstein – a true milestone we are proud of. The goal is to offer the perfect solution for tokenization projects (e.g. real estate, cars, machines). To be precise, this means flexible tokens (e.g. equity tokens or debt tokens or participation rights as tokens) in accordance with the Liechtenstein Token Act – which from a foreign point of view then represent e.g. a normal (un-traded) security. Then technology and the law (i.e., Liechtenstein Token Act) are seamlessly integrated with one solution or one legal form.

All in all, the “digital AG in Liechtenstein”, which uses the Liechtenstein Token Act, allows a very efficient foundation, a very efficient operation of a company in Liechtenstein and thus above all an efficient and flexible tokenization. This should now make a wide variety of tokenization projects possible, because the costs for tokenization are reduced to a minimum. A Liechtenstein bank is also no longer needed, because the share capital for the new AG can be provided by cryptocurrencies such as ETH if desired. Furthermore, equity tokens in line with the Liechtenstein Token Act can be for instance locked in DeFi protocols as collateral. This will provide much needed real world use cases and liquidity for the space on the one hand and on the other hand enables illiquid assets like real estate to participate in these innovative protocols. Possibilities of the Amazing Blocks software are displayed below.



Amazing Blocks at TechQuartier

“Being a first mover in the space of legally compliant tokenization of assets and equity, TechQuartier provides us with the perfect conditions to accelerate growth. We are more than happy to be part of this truly amazing community and look forward to networking and expanding our business. We will utilize the profound ecosystem of TechQuartier to establish ourselves in the crucial location of Frankfurt”, as Sofia Balogianni, the CEO of Amazing Blocks described the decision to join the TechQuartier.

The first opportunity to speak to the community of TQ will be on the 18th of November 2020, when Amazing Blocks will join the regularly hosted pitching event called “Icebreaker”. These and further events paired with so-called office hours (face to face meetings with corporates) will help us inform the world of finance about our distinct solution. Also, it will give us the opportunity to receive feedback on our achievements thus far. With more than 120 startups alongside us, we will feel comfortable to further push the limits of disruptive innovation in the age of Web 3.0!

Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to criticize or endorse the article or some of its parts, feel free to leave a private note here or contextually and we will respond or address.

Amazing Blocks offers a tokenization solution that enables its clients to tokenize various assets according to the Liechtenstein Token Act (software-as-a-service). The software covers both the issuance of tokens and investing in tokens. It suits the needs for tokenizing all kinds of assets (e.g. machines, cash flow generating contracts, trademarks, real estate, cars). Imagine that some asset should be tokenized. For this asset, various tokens would make sense: Equity tokens, debt tokens, participation rights as tokens, ownership tokens, or any mixture of these tokens. The software of Amazing Blocks helps issuers to handle multiple assets and to issue multiple tokens for these assets. This is possible by integrating blockchain technology with the law (that is, the Liechtenstein Token Act). At the core, there is the “digital legal entity in Liechtenstein” based on “tokenized shares” which allows a very efficient foundation, a very efficient operation of the company, and, thus, an efficient and flexible possibility to tokenize assets. This should now make a wide variety of tokenization projects possible because the costs for tokenization are significantly reduced.

 


Interested? Then, contact us!

Are you interested in what Amazing Blocks are doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.

 

Continue Reading

Blockchain

Amazing Blocks attended the European Blockchain Convention

Avatar

Published

on

v

One month after the official foundation, Amazing Blocks attended the renowned European Blockchain Convention. At one of the most influential conferences in blockchain, panel discussions regarding the hottest topics in the blockchain were attended and informative insights gained. Further, the range of diverse attendees from traditional sectors and the blockchain space provided perfect conditions to network. This was supported by the smooth AI-powered networking software Brella. Consequently, it was possible to obtain a clear picture of the current state of the market. – Author: Nicolas Weber

Amazing Blocks at the EBC

“As a creator of art, I believe that legally compliant tokenization can finally enable artists to be in full control over their product. The token management software by Amazing Blocks provides unique tools for digital legal entities that could be for instance one of my animation movies.” Quotes like this by Toonxr founder Özgül Gurbuz followed us throughout the whole conference. Legally compliant tokenization can finally enable artists to be in full control over their work without having to adhere to costly intermediaries. It made us proud to see interest and potential use cases emerging from all the different spheres of business, not solely the world of blockchain. At the convention, Amazing Blocks met with entrepreneurs from a heterogenous spectrum of countries and sectors, and various synergies were found. They stemmed from meetings with for instance asset custodians, established financial institutions, blockchain startups, and Entrepreneurs from various traditional industries such as real estate, consulting, and energy.

However, the most surprising potential synergies were discovered when talking to Pretty Kubyane. She is the founder and COO of Coronet Blockchain – a startup from South Africa which runs on IBM’s blockchain solution. Coronet securely tracks human hair pieces from source to customer, a market that racks up more than 100 million human hair extensions sold every year. Even here diversely applicable tokenization finds its use case. She issued the following quote for this article: “The European Blockchain Convention was a great blessing as a platform that provided global best practice insights, within an ecosystem of like-minded blockchain enthusiasts, experts, thought leaders and trailblazers in their own right, seeking to co-create the new reality, a world leveraging blockchain capabilities, together.”


Diverse attendance meets AI

The conference was attended by over 1500 pioneers and more than 100 world-class speakers provided in-depth knowledge. an exceptional lineup of blockchain industry leaders from companies and associations such as Dash, Cointelegraph, Crypto Valley, Libra, and many more. On par with the household names of the blockchain space are the leaders from other sectors that attended: American Express, the European Union, Commerzbank, Santander, Carrefour, IKEA, and many more. Therefore, the EBC perfectly merged politicians, industry leaders with tech entrepreneurs and enthusiasts to build a platform aimed to foster mainstream adoption for blockchain. A few speakers are illustrated in Figure 1 below. Ultimately, real-world use cases are rapidly approaching due to increased interest from the traditional sectors. Many who attended last year’s conference backed this statement and mentioned that now even a more diverse spectrum of attendees had been experienced.

 


The whole event was conducted virtually through AI-powered networking software Brella. The software enabled interest-based matches leading to much greater efficiency in terms of planning to find counterparts for synergy building. Furthermore, it was easy to schedule and arrange meetings through the request and chat functions integrated into Brella, while meetings could be directly accessed through the platform. Live-streamed panels lasted from the 21st till the 23rd of September and networking was open from the 20th till the 24th of September. And if you were not able to attend panels? No issue at all as all since they were all recorded and subsequently free to watch. Therefore perfect conditions for connecting had presented themselves, as networking possibilities were boosted by the extended time frame and flexibility to absorb panels.


The perks of a virtual conference

When a whole event is structured virtually a much better scalable networking emerges. Generally, this substantial conference aspect was far more dynamic throughout the course of the EBC. The mixture of live-streamed and recorded panels established the ideal preconditions for having the most informative experience possible. Also, high-quality networking in terms of similar interests with an individually planned schedule was enabled. The long networking times from 8 am to 10:40 pm CEST transformed time differences into obsolete issues. Seamlessly, live appointments could be scheduled back to back in 20-minute time-slots. Jet lags could be jettisoned, due to increased flexibility in picking a suitable time.

Additionally, another major benefit is cost-saving caused by lower ticket prices and avoided travel. Moreover, it was perfectly plannable how much time to invest into the convention. Flexibility and convenience thrived through the option to attend from home or any other remote location. Another crucial perk was the fact that the virtual structure positively affected the environment. The sustainability is caused by zero travel emissions and material waste produced from the conference directly. Pain points like capacity constraints could be deemed obsolete while conversely inclusivity through one on one meetings was guaranteed.

 

Amazing Blocks – a unique business model ready for mainstream adoption

The unique solution of Amazing Blocks ushers a new chapter of legally compliant tokenization of digital legal entities. Liechtenstein’s membership in the EEA (European Economic Area) jettisons any potential restrictions. Aspects like bankless incorporation allow a remotely managed SPV (Special Purpose Vehicle) in Liechtenstein. At Amazing Blocks, tokenization was even applied to our own shares and consequently, we are the first in the world to issue equity tokens in line with the Liechtenstein Token Act. Additionally, we were founded with ETH as an initial contribution (rather than cash), which can be verified here. Anything from participation certificates to equity or debt tokens can be tokenized with various use cases like company shares or assets such as machines, patents, diamonds, real estate, art, or even private assets.

The unique software Tokenpad supports an entire company life cycle of the legal entity in terms of administration. Within its layer, diverse features like a digital share register and easy onboarding of new investors are positioned. Hence, fundraising-on-the-go disrupts the way to receive funds and administer the entire process and subsequently mint and issue security tokens. With the solution Amazing Blocks provides, costly intermediaries, become obsolete and time is significantly saved. The concept works from anywhere in the world, thus broader access to investors is granted. The token functions as a container for the tokenized rights. Amazing Blocks can provide a blueprint to reduce the establishment of the entity in Liechtenstein from up to 4 months to around 3 weeks. Paired with this, the software solution is a unique tool, and in this form not available anywhere else in the world.

Future outlook and conclusion

Multiple connections were made to grow our ecosystem and stakeholder base which will flourish growth. This was a great opportunity to introduce Amazing Blocks to the blockchain market while exploring synergies. The EBC further established itself as one of the most influential and important blockchain conventions in Europe, where the convention itself and participants can dually grow their ecosystem. Amazing Blocks looks forward to attending the next conference from the great host’s Victoria Gago and Daniel Salmeron. At Amazing Blocks, community building and connecting in the industry are considered as crucial to really provide the best possible solution to our clients. Consequently, the conference provided the perfect opportunity to start this on a large scale.


Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to criticize or endorse the article or some of its parts, feel free to leave a private note here or contextually and we will respond or address.

Amazing Blocks offers a software-as-a-service that enables its clients to tokenize shares of a Liechtenstein legal entity. Legal entities can then be founded based on equity tokens and administered with less effort, in a digital way and remotely from anywhere. The best use cases are legal entities for blockchain startups and as a legal wrapper (special purpose vehicle, SPV) for any tokenized asset (e.g. machines, cash flow generating contracts, trademarks, real estate, classic cars). Our goal is to standardize legal entities which then dramatically reduces the cost and time needed to tokenize assets and rights. Digital legal entities are easy to administer (e.g. ownership transfer of equity in a few minutes) as they rely on tokenized shares in line with the Liechtenstein Token Act. Here, our software helps guarantee a high degree of automation and standardization. In a similar way, fundraising and ESOP for your legal entity can be done anytime: A few clicks in our software and the shares for the new investors or employees are generated and transferred – in line with the legal entity’s articles of association.


Interested? Then, contact us!

Are you interested in what Amazing Blocks are doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.


 

Source: Nicolas Weber works in the department of Business Development Europe at Amazing Blocks and is your direct contact for any regards. You can contact him via email or connect with him on LinkedIn.

Continue Reading

Blockchain

First company ever founded in Liechtenstein without bank account but instead with Ether as initial non-cash contribution

Avatar

Published

on

We are pleased to announce that on 13th August 2020, Amazing Blocks was established as the first company in Liechtenstein with an initial contribution of Ether instead of cash. For the foundation, a bank account in Liechtenstein was not necessary. It is now possible to found a company solely with the contribution of crypto assets in Liechtenstein without the need for a bank account. As a product, Amazing Blocks offers “digital legal entities as a service”. Specifically, this is software to tokenize the shares for legal entities in Liechtenstein leveraging the new Token Act (TVTG) which came into force in January 2020.


Using Ether as a non-cash contribution for setting up a company

Until now, setting up a company in Liechtenstein required the initial contribution of at least CHF 50,000 in cash for a stock corporation (Aktiengesellschaft, AG). Furthermore, in order to traditionally be able to make this contribution, you first need to fill out many documents and have them ready for a bank. Alternatively, non-cash contributions such as real estate are also possible but only if an expert opinion is provided in writing, which is costly and complex. All in all, setting up a company is a time and money consuming process. Amazing Blocks’ CEO Sofia Balogianni commented as follows in regards to the traditional system: “The process of founding a company should not depend on single entities such as a bank. When founding a startup, it is all about saving time and money, something we want to deliver by being first movers in using crypto assets as an initial non-cash contribution.”

Benefits of using crypto assets as an initial non-cash contribution

At Amazing Blocks, we decided to take the next step and leave traditional structures behind as we are strong believers in digital finance. As proof for this, the Ethereum address 0xc00dd1ff1205cac5b710c823e477ca1294dc7257 can be used. Here, it can be seen that ETH 261.00 have been deposited as an initial non-cash contribution on 7th August 2020, right before the company has been formally established at the commercial register in Vaduz. To do this, a “non-cash contribution agreement” was required to prove to the commercial register that the founders had deposited the ETH. If the price of ETH would have fallen significantly such that the total value would have been below CHF 50,000 then the commercial register would probably have rejected the registration. The question always arises what the market price of crypto assets is. It was therefore very helpful that the Swiss tax office publishes daily prices of crypto assets. The Swiss tax office is a reputable authority such that prices of ETH can be relied upon. If you are interested in the “non-cash contribution agreement” we used, we are happy to share it: Request it here or send us an email (hi@amazingblocks.io). We are happy to share our knowledge with entrepreneurs who seek to do the same. See the entry in the commercial register highlighting that ETH 261.00 ETH were used to set up the company formally:

Commercial Register Liechtenstein, Registration Number FL-0002.641.923-4
This should give you a hint at one of the core benefits involving this model: Increased transparency and a bankless establishment of the company but nevertheless complying with all laws and regulations. In general, the process of having to open a bank account in Liechtenstein might become unnecessary in the future.

Moreover, in the near future issuing shares and the respective distribution of voting rights can now be fully automated and standardized through an Ethereum based layer benefitting from smart contracts. Of course, security and legal concerns may arise on whether or not this model is to be trusted, but they can all be jettisoned by the unique technological structure of the blockchain. This enables a smooth setup of a legal entity in Liechtenstein, enhanced by Amazing Blocks’ software to tokenize shares leveraging the Liechtenstein Token Act. Ultimately, this will lead to much higher flexibility for entrepreneurs and investors.

Future impact on reshaping the world of finance and entrepreneurship

When companies can be founded fully remotely and without the need for a bank account in Liechtenstein to leverage the Liechtenstein Token Act, a skyrocketing influx of capital can be expected. Futuristic minded investors will be able to seize the immense potential of leveraging the Liechtenstein Token Act. As a pioneer, Amazing Blocks seeks to be a major driver of reshaping the current world of finance. Being able to avoid the process of initiating a bank account will be pivotal in future development. Nothing beats instant, trustworthy and automated processes, and transactions while at the same time complying with all rules, laws, and regulations.

Amazing Blocks: offering a software solution to tokenize shares of Liechtenstein legal entities as equity tokens

“The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. That kind of thing will develop on the Internet and that will make it even easier for people to use the Internet.” A statement made in 1999 by Nobel-prize winner and highly acclaimed economist Milton Friedman, not knowing that his initial vision would affect far more than just transferring monetary funds. E-cash has been prevailing since 2008 with the invention of the Bitcoin blockchain, but now due to the Liechtenstein Token Act (TVTG) even legal entities or – to be precise – their shares as equity tokens can be digitally represented and thus “tokenized”.

The accompanying benefits are tremendous: Time and money saving, full automation and standardization, high transparency, and remote setup and management. Nevertheless, leveraging the Liechtenstein Token Act is not an easy endeavor. This is where Amazing Blocks finds its niche: Amazing Blocks offers a software – the Tokenpad – which is a user-friendly software-as-a-service to manage the tokenized shares of legal entities (that is, equity tokens) end-to-end, 24/7. Consequently, Amazing Blocks efficiently integrates finance, tech, and law.

If you are interested in this “non-cash contribution agreement” we used, we are happy to share it: Request it here or send us an email (hi@amazingblocks.io). We are happy to share our knowledge with entrepreneurs who seek to do the same.

Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to criticize or endorse the article or some of its parts, feel free to leave a private note here or contextually and we will respond or address.

Amazing Blocks offers a software-as-a-service that enables its clients to tokenize shares of a Liechtenstein legal entity. Legal entities can then be founded based on equity tokens and administered with less effort, in a digital way and remotely from anywhere. The best use cases are legal entities for blockchain startups and as a legal wrapper (special purpose vehicle, SPV) for any tokenized asset (e.g. machines, cash flow generating contracts, trademarks, real estate, classic cars). Our goal is to standardize legal entities which then dramatically reduces the cost and time needed to tokenize assets and rights. Digital legal entities are easy to administer (e.g. ownership transfer of equity in a few minutes) as they rely on tokenized shares in line with the Liechtenstein Token Act. Here, our software helps guarantee a high degree of automation and standardization. In a similar way, fundraising and ESOP for your legal entity can be done anytime: A few clicks in our software and the shares for the new investors or employees are generated and transferred – inline with the legal entity’s articles of association.


Interested? Then, contact us!

Are you interested in what Amazing Blocks are doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.

Continue Reading

Blockchain

First equity tokens generated according to the Liechtenstein Token Act by Amazing Blocks

Avatar

Published

on

Source: Amazing Blocks is the first company to tokenize equity according to the Liechtenstein Token Act. With the first tokenized shares of a legal entity in Liechtenstein, history was written on September 21, 2020, when equity tokens for registered shares were generated. This can also be inspected on the Ethereum mainnet. Amazing Blocks offers a software solution to support the tokenization of shares. It leveraged its own software solution, the Tokenpad, to tokenize its own shares. This software could also be applied to tokenized other assets and rights of Liechtenstein legal entities such as participation rights or ownership rights – for example when real-assets such as classic cars, real-estate, machines, watches, etc. are tokenized.

 


Tokenizing equity in Liechtenstein

Effective on September 21, 2020, the LegalTech and blockchain startup Amazing Blocks AG tokenized its shares in line with the Liechtenstein Token Act (TVTG) as the first in the world to ever do this. These are the first equity tokens for a Liechtenstein legal entity on the Ethereum mainnet. This is set to further establish Liechtenstein as a hub for blockchain. The company’s equity consists of 600 shares of which 400 and 200 are held by two shareholders. This can also be inspected on the Ethereum mainnet. Recently, Amazing Blocks AG was listed in the commercial register of Liechtenstein. The International Token Standardization Association (ITSA) awarded XJJB-H6YC-2 as the International Token Standardization Number (ITIN) to Amazing Block’s tokenized shares. Note that the shares are privately held and are not publicly traded.

As the legal framework enabling this, the Liechtenstein Token Act is frequently described as a major step toward establishing the foundation for the expected mainstream adoption of tokens. Experts refer to the underlying framework as the so-called Token Container Model. Here, tokens function as a container to “package” any kind of legal rights. Liechtenstein is also a member of the EEA (European Economic Area) such that the Liechtenstein Token Act might also help to standardize tokenization processes in Europe. Another substantial point is custody: If specific conditions are met, token holders (that is, shareholders) have the flexibility to choose their preferred custody provider.

Amazing Blocks: service provider for tokenization in Liechtenstein

Amazing Blocks offers the Tokenpad – a software-as-a-service – that delivers a client-focused solution to support the tokenization of shares and other assets in Liechtenstein. It is a management software for digital legal entities in Liechtenstein, where the entire life cycle is supported (e.g. investor onboarding, tokenizing shares, role assignment, etc.). Liechtenstein legal entities can tokenize their equity with this solution themselves. The key user of the software is the Board of Directors which is a legally binding way is executing the tokenization of the shares (or of other assets) with the support of the software.

Sofia Balogianni, CEO of Amazing Blocks described the intention as follows: “The Liechtenstein Token Act establishes a new legal framework aimed to successfully capture the enormous potential of blockchain technology and tokenization. It legally permits the tokenization of assets and rights in quite an easy way. We at Amazing Blocks are effectively utilizing this in order to offer benefits such as fundraising-on-the-go to our clients. Further, our clients benefit from a digital, efficient, and easy administration of their legal entity, their shareholders, and their shareholders’ decisions.” Tokens generated through the Tokenpad of Amazing Blocks are technically building on the ERC20 format but are nevertheless registered shares including the restrictions concerning transferability. The far-reaching possibilities of Amazing Block’s offer are shown in Figure 1. Amazing Block’s software could also be applied to tokenized other assets and rights of Liechtenstein legal entities such as participation rights or ownership rights – for example when real-assets such as classic cars, real estate, watches, etc. are tokenized.

Being a pioneer and seizing the first-mover advantage is exciting but also bears a lot of risks. At Amazing Blocks, trust in our model is of utmost importance as we are working closely together with service providers and the authorities in Liechtenstein. The first tokenized shares of the Liechtenstein Token Act can be considered a groundbreaking achievement. Raphael Hess, Blockchain Lead at Amazing Blocks, described this as follows: “Tokenizing the first legal entity and shares according to the Liechtenstein Token Act is a major step toward adopting blockchain as the backbone for the future of finance, law, and tech. The tokenization of shares enables substantial benefits to everyone involved. Founding and administering a company has never been this cost and time-efficient, as nearly everything can be set up and managed remotely on your computer wherever you are.”

How the first equity tokens will set an example for future entrepreneurs and investors to come

Many people are still skeptical about blockchain technology and tokenization. However, observers of the digital asset markets such as Fiona predict staggering growth to come. They estimate a total volume of tokenized assets of around USD 24 trillion by 2027. Today, we are seeing the beginning of this growth as more and more tokenization possibilities are unlocked – including equity tokens in Liechtenstein. As Deloitte also put it, tokenization will make the financial industry more accessible, cheaper, faster, and easier, thereby possibly unlocking trillions of euros in currently illiquid assets and vastly increasing the volume of trade. Most interesting in this regard will be the tokenization of real-assets such as classic cars, real estate, machines, watches, and other assets.

 

Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to criticize or endorse the article or some of its parts, feel free to leave a private note here or contextually and we will respond or address.

 


Source: Amazing Blocks offers a software-as-a-service that enables its clients to tokenize shares of a Liechtenstein legal entity. Legal entities can then be founded based on equity tokens and administered with less effort, in a digital way and remotely from anywhere. The best use cases are legal entities for blockchain startups and as a legal wrapper (special purpose vehicle, SPV) for any tokenized asset (e.g. machines, cash flow generating contracts, trademarks, real estate, classic cars). Our goal is to standardize legal entities which then dramatically reduces the cost and time needed to tokenize assets and rights. Digital legal entities are easy to administer (e.g. ownership transfer of equity in a few minutes) as they rely on tokenized shares in line with the Liechtenstein Token Act. Here, our software helps guarantee a high degree of automation and standardization. In a similar way, fundraising and ESOP for your legal entity can be done anytime: A few clicks in our software and the shares for the new investors or employees are generated and transferred – inline with the legal entity’s articles of association.

Interested? Then, contact us!

Are you interested in what Amazing Blocks are doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.

Continue Reading
Cleantech2 hours ago

Four Corners EV Charging: Utah & Colorado Are Leaving NM & Arizona Behind

Cleantech2 hours ago

Aptera Announces First “Never Charge” Electric Vehicle

Cleantech2 hours ago

Gayam Motor Works & Sokowatch Launch East Africa’s First Commercial Electric Tuk-Tuks

Cleantech3 hours ago

The German Constitution May Protect A Right To Human Driving

Cleantech4 hours ago

2021 Toyota RAV4 Prime Fails Moose Avoidance Test

SaaS5 hours ago

Top 10 SaaStr Videos of the Week: MongoDB, Splash, Slack + Yammer, Gainsight and More!

Cleantech5 hours ago

Supercell Technology From Cadenza Is Centerpiece Of New York Energy Storage Project — CleanTechnica Exclusive (Video)

SaaS5 hours ago

How to Create PPC Campaigns for Real Estate Marketing

Cleantech5 hours ago

Cleantech ETFs Vastly Outperform Dow Jones, Oil & Gas In 2020

Cleantech6 hours ago

ICE Racing Can Still Teach Us Things

Cleantech6 hours ago

California’s Low Carbon Fuel Standard Accelerating Transportation Electrification

SaaS7 hours ago

7 Warning Signs You Have Product Flop on Your Hands (and How to Fix It!)

Ecommerce7 hours ago

Amazon Marketing Consulting

Globe NewsWire7 hours ago

McPhy Energy : Déclaration du nombre total des droits de vote et du nombre d’actions au 30 novembre 2020

Cleantech7 hours ago

Breaking News! Oakland & Seattle Ban Natural Gas as Cities Continue to Lead on Electrification

SaaS8 hours ago

Did You Ship At Least 3 Game-Changing Features This Year?

SaaS9 hours ago

When Should You Use Microsites

Globe NewsWire10 hours ago

Dassault Aviation : Roll-out du Falcon 6X

Globe NewsWire10 hours ago

Dassault Aviation: Falcon 6X rollout

Energy11 hours ago

Crescent Point Announces 2021 Budget

Energy12 hours ago

PHNIX dévoile une nouvelle pompe à chaleur pour le chauffage, le refroidissement et l’eau chaude des habitations, destinée au marché européen

Energy12 hours ago

PHNIX stellt neue Wärmepumpe für Hausheizung, Kühlung und Warmwasser für den europäischen Zielmarkt vor

Esports12 hours ago

NiP announce “Path of a Ninja” talent program

Energy12 hours ago

Wilbur-Ellis Agribusiness Acquires Probe Schedule

Energy12 hours ago

High Purity Alumina Market Estimated to Expand at a CAGR of 12.5% over the Forecast Period of 2020 to 2030 – Persistence Market Research

Energy15 hours ago

Gunvor inaugura una nueva línea de crédito de 540 millones de dólares dedicada al biodiésel

Energy15 hours ago

Gunvor Launches New US $540 Million Biodiesel Borrowing Base

Techcrunch16 hours ago

China’s internet regulator takes aim at forced data collection

Blockchain16 hours ago

Amazing Blocks joins startup and innovation hub TechQuartier

Blockchain17 hours ago

Amazing Blocks attended the European Blockchain Convention

Trending