Harbor Platform Releases Update 2.0 with New Features Based on Prospective Client Talks

Harbor Platform Releases Update 2.0 with New Features Based on Prospective Client Talks

As of February 6th 2019, Harbor has upgraded its platform to v2.0. Harbor CEO Josh Stein says the new features were a result of interaction with prospective Harbor clients. V2.0 was especially designed to help startups wishing to raise private capital and sports franchises wishing to tokenize ownership.

Harbor Platform 2.0 Explained

Harbor’s latest update— Harbor Platform 2.0— has arrived.

The platform aims to tokenize traditional securities by handling the compliant fundraising, investor management, and liquidity with Distributed Ledger Technology (DLT). The platform enables enterprises to raise private capital in the groundbreaking manner offered through security tokens.

The new update includes an issuer-branded investor portal and a dashboard optimized for issuer-use. It also entails a Trusted Parties feature which can allow issuers to control certain conditions specific to their asset to ensure regulatory compliance.

Harbor’s Trusted Parties admin view where issuers can view their cap table and controls in real time

According to Harbor CEO Josh Stein, the new updates were driven to enhance the ways startups can raise capital:

“Startups want new ways to raise capital directly from investors, not only through intermediaries. They want to open up fundraising to a broader network including customers, partners, and fans who are key to their success, while still being in control of their cap table… Harbor Platform 2.0 is a turnkey solution for tokenizing private company equity that enables startups to open up fundraising directly to a broader group of investors and create innovative equity programs.”

According to the Harbor team, Harbor Platform 2.0 features a few use case examples based on interaction with prospective clients.

The first includes professional sports franchises who sell fractional ownership to would-be minority owners— as previously discussed more in-depth by Stein himself. Under such conditions, unique benefits which are unavailable anywhere else can be added to such ownership, resulting in the asset’s increased value at little cost to the majority owner(s).

The second includes startups with high-growth potential but significant operating capital requirements. Here, those startups can tokenize private equity in a simple and compliant manner, resulting in new funding for business development. At the same time, startups can establish equity deals that incentivize both early customers and key partners.

The third involves startups with a built brand and revenue generation who seek alternative methods of fundraising. Startups with a successful product or service can leverage their success for additional fundraising directly from investors with fewer conditions and associated expenses.

How Harbor has Become a Leader of the Security Token Industry 

Harbor’s Regulated Token, or R-Token for short, is just one aspect of Harbor’s security token stack.

The token features a centralized compliance protocol to transparently demonstrate its accordance with applicable laws. Harbor focuses on the tokenization of assets which are unambiguously securities. They therefore must comply with all appropriate laws and regulations.

Proving such compliance is the tricky part, which is why Harbor centralizes compliance, yet decentralizes everything else.

Their technology is not the only instance of Harbor to make recent headlines, however.

The Harbor platform officially went live in December of 2018. At the same time, Harbor announced their tokenization of the first REIT in the United States— part of a $20 million offering.

They also have numerous partnerships with industry leaders, including BitGo who provides a custody solution for Harbor’s platform.

As some believe 2019 could be the year of security token implementation, Harbor’s short but impressive track record has helped them rise to the forefront of the industry.

What do you think of Harbor Platform 2.0? Will the added features secure Harbor’s position as a leader of the security token industry? Tell us what you think in the comments section below. 

Image courtesy of Harbor.