Cryptocat author for media gets backing11/24/2023 ![]() Would be really nice for total transparency to have an official final sum from the company verified by reputable auditors. ?Thoughts What the Heck Are Tokenised Securities? If the $4B value is true, then this was the most masterful fundraise ever created, with the daily sale auction gimmick. This is a contrarian post that we missed last week and that would have been a great counter to Stephen McKeon’s “The Security Token Thesis” covered in our previous issue. Michael’s argument is that all the beautiful things security tokens are supposed to enable or solve are already largely possible today, or there’s a very good reason why they are not implemented already in traditional securities (ie feature rather than bug). Michael however admits some new types of tokenized securities uniquely enabled by decentralized protocols would indeed by interesting (eg a security NFT representing a single wine bottle or vintage). I think that’s enough for security tokens this week! Estonia Scales Down Plan to Create National Cryptocurrency So he’s main point is: yes, it’s technically possible, but why on earth would you use a blockchain for that? “The token itself is an abstraction that derives value not just from the asset itself, but from the institutions that assure that abstraction maps to the value we wish to “own.”” Tokens (Don’t) Rule Everything Around Me - Thoughts On Security TokensĬontinuing on that line of thought, Parker also outlines his bearish views on ‘security tokens’, summarised neatly by this sentence: I think here the debate is starting to go round in circles because we keep calling these things ‘tokens’, when they are in fact just ‘digital securities’ and they already exist in some form. Reading the title made us go “Thank god”, but then reading the article made us go ?Īpparently Estcoin won’t be a new “currency” but it will still be some kind of token that “will proceed as a means for transactions inside the e-resident community”. In any case, an ICO for a national cryptocurrency is just a pure idiocy, while instead having a crypto-fiat, especially if with different value systems and different distribution than the current fiat is an idea that intrigues us a lot. The Eureka Moment That Made Bitcoin Possible I’m an e-resident of Estonia, so we’ll keep you updated on what it will look like in the end. The WSJ takes a super cool look at a paper mentioned in the Bitcoin paper. This specific paper resulted in a company, Surety, and a patent: the first blockchain patent, with the use case of time-stamping digital files - a use case much touted about today, but that has been possible to achieve since the 90's. #Cryptocat author for backing to build code#.#Cryptocat author for backing to build software#.
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