Blockchain
After Recent SEC Guidance, TokenSoft to Accept Clients from Broader Set of Law Firms
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On the heels of recent guidance about security token regulations from the SEC, TokenSoft, Inc., the leading digital asset issuance and management platform, today announced that it no longer restricts clients to use one of its previously vetted and approved law firms.
“When we launched TokenSoft, we were well aware that the legal landscape was new to blockchain-based issuances of securities. In order to mitigate legal risks, we decided to perform due diligence on a select group of law firms that shared our conservative view that digital assets should follow securities regulations,” said Mason Borda, CEO, TokenSoft.
“In retrospect, doing this helped protect our clients and encouraged them to take a more conservative approach, which has paid off given that the regulators now echo much of this sentiment. When issuers come to us today as their technology partner for a compliant issuance, they typically have already engaged a law firm for their project, and if their counsel carries the SEC’s perspective, we don’t want to be a reason for changing that important relationship.”
The SEC recently issued the Framework for ‘Investment Contract’ Analysis of Digital Assets, which gave the market more specific guidance from which to work. In addition, most larger global law firms have created blockchain practices with attorneys with pedigrees in traditional financial securities, banking, and tax regulation. TokenSoft’s sense is that market participants, including legal advisers, are now commonly taking the position that tokens are regulated instruments. The market also has the benefit of seeing an increasing number of use cases from which to learn.
“For our business, this means that we are less concerned that attorneys may allow their clients to adopt an interpretation of the regulations which carries higher risk. Now, we can serve a broader client base due to this common understanding that comes from clearer regulatory guidance.”
As 2019 progresses, TokenSoft is seeing steady interest from institutions and enterprises looking to issue asset-backed tokens or digital securities. If you’re a law firm working with issuers of digital assets and would like to learn more about how TokenSoft can help issuers adhere to applicable regulations, please reach out at https://www.tokensoft.io.
SOURCE TokenSoft, Inc.
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
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Source: CoinTrust
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Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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