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Security Token Industry Leaders Meet for StartEngine Summit, Optimistic about the Future
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StartEngine hosted their annual StartEngine Summit this past Friday, October 19th, to a crowd full of those interested in the growing security token space. Many leaders of the industry were present and they all seemed to show an overall optimism and confidence about the future of tokenized securities.
The StartEngine Summit was an event packed with industry leaders, all coming together to discuss the most important topic on the agenda for the blockchain space today: tokenized securities.
Boris A. Reznikov, Director of Partnerships for Stellar (XLM), discussed at length the role the cryptocurrency can play in facilitating tokenized securities. Currently, XLM boasts its own decentralized exchanges, running on the Stellar network, which could someday support security tokens.
The co-founder of Polymath, Deven Soni, was also present and spoke in a panel on how to best tokenize securities. Polymath is one such platform that will allow for a streamlined process for creating tokenized securities. This panel, titled “How to Tokenize Securities,” also included the co-founder of Verify Investor and the VP of Sales and Business for StartEngine.
There seemed to be an overall consensus throughout the entire conference that tokenized securities currently lacked accessible platforms. In fact, many technical aspects remained open questions throughout the conference. For example, the question of compliance was discussed in detail during the “Where to Trade Security Tokens” panel, but there were differing opinions. There is still the question of how to integrate compliance into the consensus model, and what a token standard for tokenized securities should be.
The keynote speaker for the event was Charles Hoskinson who is the founder of Ethereum and cryptocurrency startups IOHK and Invictus Innovations. His remarks focused on a future where compliance, privacy, and data storage all occurred on-chain. However, Hoskinson also made the estimation that in the future, a significant portion of the cryptocurrency space would inevitably include tokenized securities.
In fact, the entire message of the conference seemed to be clear: tokenized securities will soon be some of the most common cryptocurrencies in the entire blockchain space.
About StartEngine
StartEngine is an equity crowdfunding platform. The platform today is used by investors to link up with startups. However, closely following the 2017 ICO craze, they decided to open up their platform to the potential of collaboration with the blockchain space. Now, StartEngine is looking to bring industry leaders together and apply their crowdfunding platform to the cryptocurrency world by having Security Token Offerings (STOs).
This year’s summit is the second year in a row that StartEngine has brought together blockchain industry leaders to chart the path forward the security token industry.
You can watch a full steam of the summit here.
Why are so many crowdfunding platforms interested in tokenized securities? Any thoughts on the SmartEngine Summit? Leave your comments down below.
Image courtesy of SmartEngine.
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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.
