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Securitize Open Sources Core Protocol, Launches v3.0 of its Digital Securities Platform
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As of May 13th 2019, Securitize has elected to open source the key element of its technology— the Digital Securities (DS) Protocol. The San Francisco-based firm also launched v3.0 of its platform, featuring a control panel to assist users with digital securities management.
Securitize’s Open Sourced DS Protocol Explained
Securitize is a digital securities issuance and management platform, which has raised nearly $13 million to date.
Securitize CEO Carlos Domingo says the DS Protocol has been tried and tested, and is now ready to be open sourced.
According to Domingo,
“We decided to open source the DS Protocol only after proving it works in real-world applications with real customers tokenizing multiple actual securities. The DS Protocol is now ready for developers to begin creating innovative applications for digital securities and to join us in shaping the future of capital markets.”
Well known digital security advocate and thought leader Jesus Rodriguez responded to the news with the following:
“long time coming. No standard, just plain open source adoption: Securitize Open-Sources Its Protocol…”
Digital securities— a term synonymous to security tokens— involve the integration of Distributed Ledger Technology (DLT) with regulated, real-world financial assets.
The Securitize platform itself has issued and managed more than $135 million worth of digital securities, involving Blockchain Capital, Aspencoin, SPiCE VC, Science Blockchain, and others.
The Benefits of Securitize Platform v3.0 Explained
On the same day, Securitize announced the launch of v3.0 of its digital securities management platform.
The new release features a control panel which assists in the issuance and life-cycle management of digital securities.
The new platform allows of the management of multiple digital securities offerings from a single endpoint.
The panel also displays detailed information specific to each ongoing securities issuance, including the following:
- A list of registered prospective investors
- Status of funds raised, including both pledged and actual raised amounts
- Status of KYC / AML checks of participants
- The ability to configure all content displayed on the fundraise site
Additionally, Securitize’s DS Protocol is set to be integrated with the tZERO security token trading platform.
What do you think of Securitize open sourcing its DS Protocol? Will this lead to other security token standards becoming open sourced? Let us know what you think in the comments section below.
Image courtesy of Securitize.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
