The Bitcoin firm called Blockstream will reportedly launch a platform designed to allow users to launch their own tokens. Interestingly, the process will be made possible through the use of the startup’s Bitcoin sidechain called Liquid.
Introducing the Liquid Securities Platform
According to the official report, the Liquid Securities platform was first launched at this year’s CoinDesk’s Consensus conference. It is deemed to be the first product Blockstream that has launched on top of its own Liquid Network sidechain. The latter, on the other hand, is network directly tied to the BTC blockchain and, more importantly, offers a faster transfer of coins and better built-in privacy.
The company revealed that the app is going to give users the ability to not only issue security tokens but manage them as well. These processes will be done on top of the aforementioned network.
In a statement, the CSO of Blockstream named Samson Mow said that businesses across the world are hell-bent at taking advantage of “the tokenization of securities.” However, according to him, blockchain platforms like Ethereum are not able to provide success simply because of the many issues concerning reliability, privacy, and scalability, among many others.
The Benefits of Using the Platform
With the launch of Liquid Securities, Mow believes that businesses will be more than capable of issuing Liquid-based security tokens in a quick manner. He even suggests that this can be done in just a single click of a button. More importantly, the process will now establish sophisticated rulesets in order to conform to the company’s regulatory requirements. But unlike any other, their process does not require users to have engineering experience whatsoever.
A couple of partners are said to be already lining up to launch coins on the above-mentioned platform. The list includes some well-known players in the space, such as Pixelmatic, TokenSoft, BnkToTheFuture, and Zenus Bank.
Mow said that most people think they have to be a code before they can launch a token. This is not the case, especially with the existence of the Liquid Securities platform. It will be responsible for providing a web interface that will allow businesses to issue and monitor tokens with ease. And instead of going through the burden of coding rules (e.g. investor accreditation, regional restrictions, etc.), they can just use the app to be introduced to features that will help them do so. In a sense, the process will enforce these businesses to follow Bitcoin’s multi-signature smart contracts.