A Blockchain Supported Solution for Compliant Digital Security Offerings

Andrew Le Gear ()
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Andrew Le Gear: Horizon Globex Ltd

A chapter in Blockchain and Distributed Ledger Technology Use Cases, 2020, pp 113-131 from Springer

Abstract: Abstract Ethereum launched in 2015 ushering a sea change over its predecessors in it’s ability to tokenise an asset. This was a technical innovation and an Initial Coin Offering (ICO) boom ensued, peaking in 2017. The legal and compliance requirements of tokenisation failed to keep step in these early stages, but were eventually brought to bear after the ICO bubble burst, forcing technological liberalism to confront regulatory realities. The Digital Security Offering (DSO)—a name change intended to reflect full compliance—was coined. However, truly executing a fully compliant DSO remained elusive for many. In this chapter we navigate the regulatory landscape for DSOs and construct a compliant blockchain solution, using it to support the DSO capital raise for a product named Talketh in December of 2018. The journey discusses the key compliance concerns of Know-Your-Customer (KYC), Anti-Money-Laundering (AML), Custody, Tokenisation and onward secondary trading as part of a Distributed Exchange (DEX).

Keywords: Blockchain; Initial public offering; IPO; Security token offering; STO; Digital security offering; DSO; Initial coin offering; ICO; Custody; Primary issuance; Secondary trading; Distributed exchange; DEX; Compliance (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/978-3-030-44337-5_6

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