One of the main deterrents to Cryptocurrencies being accessible to the masses is the fact that many exchanges and Cryptocurrencies exist outside the realms of legislation and governmental authority. Let’s just say that the power of the law tends to put the vast majority of people’s minds at ease, particularly when it comes to things as pertinent as their hard-earned money. Luckily, this will no longer be the case as a Boston Stock Exchange has shared with the world that it intends to partner with one of Overstock’s holdings tZERO to create the first fully authorized security exchange platform.
The Official Announcement
The news broke earlier today, tZERO and the Boston Stock Exchange’s firm Box Digital Markets are hard at work creating a fully legally compliant platform to facilitate the trading of blockchain tokens that have been categorized as financial securities. As yet this ground-breaking platform has not received a name; however, the impact of the platform is sure to be phenomenal. Through the use of this exchange platform, many firms and individual investors can now get their hands on Initial Coin Offerings or ICO’s without interfering with any of the laws governing securities.
In addition, this platform can also create a system for other private firms to potentially tokenize their stock with the use of Blockchain and then trade it on the platform. Lisa Fall who is currently the CEO of Box Digital, as well as the official director for the Box Options Exchange, will also be managing the daily runnings of the new securities platform. Lisa stated that Box Digital was honored to work with tZERO due to their previous experience within the industry, she felt that Box Digital brought their own experience of accuracy and management of security platforms to the table which was why the partnership would be a great success.
The CEO of tZERO’s Words
The new CEO at tZERO is Sam Noursalehi, after having taken over from former CEO Patrick Byrne who chose to pursue less demanding concerns. Noursalehi announced that the achievement of this project was a huge step forward within the financial and Cryptocurrency sector, as it was helping to legitimize Cryptocurrencies and Blockchain technology within the confines of the formal financial markets and regulations. Noursalehi further went on to state that he was especially glad to have Lisa Fall on the project as her proven track record within the financial securities industry lent valuable insight and credibility to the project that would not have been achieved without her.
Noursalehi further went on to state that they will continue to work with the Securities Exchange Commission or SEC as tZERO and Box Digital continue to push out the very first regulated securities platform using Blockchain technology. Box Digital will be the one to launch the securities platform onto the market; tZERO’s role will be to provide capital to the venture as well as to license the necessary Blockchain algorithms that are used in the creation of the site. All we can say is that we are very excited and can’t wait for this brand new innovation to hit the marketplace.