Blockchain offers a lot of advantages when it comes to company shares, both for the company and their investors. It brings the possibility of an all-automated shareholder registry that is completely transparent and secure. Also, it gives companies global access to investors.

Blockchain as a technology offers various benefits to both companies as well as investors including:

·        greater liquidity;

·        widespread distribution;

·        control;

·        transparency and;

·        security.

In Q1 2018, we started developing a concept for maintaining a shareholder registry on the blockchain. The concept was named Stockify, and it has sparked great interest from different companies both national and international. At the end of 2018, the PoC of Stockify was done. The PoC handles everything from company and investor-onboarding, the issuing of new company shares, investments, and an all-automated shareholder registry. In addition to this, the concept is developed to be compatible with laws and legislation in any country. To achieve this, Stockify will have auditors in every country it launches in.

When developing the PoC for Stockify, we identified some issues with the solutions that are available today, mostly surrounding the ERC token standards. It is not possible to meet the requirements needed using these tokens. For example: the ERC 721 have the needed non-fungible token structure, but when making a lot of token transfers, the transactions starts to fail.  Therefore, we started looking into the possibility of developing a new token standard. A token standard tailor-made to fit the local legislation and Norwegian law “Aksjeloven”.

Akeo AS will develop a token standard that can be integrated with other solutions through APIs so that companies can keep their business logic and other solutions separate from the token itself, and still get a token that is compatible with “Aksjeloven.” Stockify will be the first project where this token will be used and we look forward to bringing the concept to another level.

We look forward to the future of Stockify. We strongly believe that a new token standard is something that is needed in the industry and now. As this new token standard compatible with ‘Aksjeloven’ will be introduced, it is going to be more user friendly and would help people easily adopt the blockchain technology. If you have any questions, please contact us and we are happy to tell you more about the token standard and the future plans of Stockify.