Blockstream Launches Bitcoin Sidechain Called ‘Liquid’ for Security Tokens
Famous Bitcoin startup Blockstream has just announced they will be launching their own Bitcoin sidechain. Called Liquid, the sidechain will be exclusively for security tokens.
Blockstream had a major announcement at this year’s Consensus conference. One of the first Bitcoin startups, the company announced that they would be releasing a product on top of its Liquid Network sidechain. The sidechain was designed to allow for faster coin transfers and built-in privacy. However, now it will also include a platform for security tokens.
Providing Simple Security Token Solutions for Businesses
Blockstream CSO Samson Mow said that tokenized securities are currently a race many businesses are following. He said:
“Unfortunately, blockchain platforms like ethereum are failing them due to issues with scaling, privacy, and reliability. […] Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button, and establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required.”
A few security tokens hae already lined up to launch their tokens on the Liquid platform. These include BnkToTheFuture, TokenSoft, Zenus Bank, and Pixelmatic.
The Liquid platform will have a simple web interface where businesses can easily issue and monitor tokens. Creating a token has built-in compliance.
Do you think Blockstream’s new platform will become a major stepping stone for the security token industry? Let us know your thoughts in the comments down below.
Image courtesy of Bitcoin Magazine.