1/ For a demo yesterday I tokenized a security using the Bitcoin blockchain on live video.
It took 10 minutes using a web browser, a pen and $10.
This token security is legal, complies with SEC regulations, is recognized by Delaware and represents a real operating business.
2/ For this demo I used the simplest method I could:
- company with one shareholder
- simple Counterparty token (a protocol using the Bitcoin network) to create asset A1514842398425338000
- corp resolution to recognize tokens as shares
- SEC exemption under section 4(a)(2)
3/ The purpose of this demo was to again show that legal, “real”, compliant securities can be tokenized on a blockchain.
This can work on a larger scale - Overstock, public company issued a tokenized security in 2016 (I am on the board of Medici which is owned by OSTK)