In Norway we have a service called VPS, this is the traditional way to have your shares in a central registry while not actually being listed on a Stock Exchange. There are many other similar services out there that handle the listing of your shares easily, so why are we building Stockify?
I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows downDavid Marcus, CEO of Paypal
To be able to understand why, you need a clear understanding of the promises of Cryptocurrency and the underlying technology, Blockchain. I will not do another post explaining Blockchain, so feel free to head over to the blog at Akeo to get more information.
When transactions are done on Stockify they are done on Ethereum in the background. Ethereum is as of this writing the worlds second biggest Blockchain in terms of the market cap of Ether. Transactions that gets written to the ledger are immutable making it perfect for commodities such as shares in a company. The company will have an updates shareholder registry at all time backed by a universal truth machine.
When we launch we will launch for Norwegian companies first. But investors can come from all over the world. By building this as a partly
Following the shares, all the way from the company issuing the shares to an active second-hand market makes the processes transparent and secure. When the company issues new shares the tokens are made available in a smart contract on Ethereum, making it impossible to sell more than issued and fully transparent.
The token itself are compatible with Norwegian law
Akeo aims to issue an EIP (Ethereum Improvement Proposal) that in the next round will lead to a ERC token. The token will be be compatible with ERC20 so it can be used in any ERC20 compatible wallet.