Consensus is world’s largest and most prominent event when it comes to blockchain and cryptocurrency. At Consensus, and events that are organized around it, there is extensive discussion and dialog about the latest developments and the future of this rapidly growing industry. This annual event attracts a varied international audience from all sections of society. From entrepreneurs, traders and politicians to developers, academics, and the curious.
Consensus 2019, the fifth edition of this event, took place from May 13 to May 15 at the New York Hilton Midtown. As a full-service security token specialist, Autradety was there making its presence felt and appreciated.
The conference covered a lot of topics and trends, but following subjects caught the most attention:
The technology giant is entering blockchain world and it is already making waves. Along with the likes of IBM and Microsoft, Amazon has recently started offering blockchain-as-a-service (BaaS). It provides developers with the opportunity to host their own blockchain applications and smart contracts in the cloud. Amazon (AWS) used Consensus 2019 to demonstrate a number of new products based on this service.
One of their interesting offerings is a managed hosting solution for Hyperledger, a blockchain platform that serves as an infrastructure for all kinds of user-friendly applications.
AWS was also present to talk about their Quantum Ledger Database (QLDB). This is a centralized blockchain solution for companies that want to keep full control over their blockchain. This is at odds with core ethos of Bitcoin, which is decentralized and maintained by independent miners.
They also presented their own solutions based on BaaS. Kaleido offers companies a range of blockchain applications to optimize their processes and increase profitability. Their USP is that their applications can be used on plug-and-play basis. No coding or development involved on the user end. Kaleido’s stack includes various tools to manage assets and documents and an app-to-app messenger. The messenger app makes it easy to exchange messages between apps.
Another focal point of the discussion was the impact of blockchain on Central Securities Depository Institutions (CSDs). These are institutions that hold securities and are also responsible for settling securities transactions between parties that hold an account with the CSD.
Large CSDs such as the London Stock Exchange Group (LSEG) and Depository Trust & Clearing Corporation (DTCC) were discussed at the conference. There is a realization that CSDs can be tokenized. DTCC went one step further and declared that it is ready to use blockchain technology and is convinced that automation will make it much more efficient than its current system.
Autradety was present on all three days of Consensus 2019, and by invitation, attended all events organized around it. We were delighted to see security tokens among the most discussed topics there. Most important aspects of security tokens were enthusiastically discussed and debated:
Autradety reached out to many companies at Consensus that are looking for capital and want to explore the possibilities of issuing an STO. Most of these companies do not want to approach banks for the capital for various reasons. Due to some recent and infamous quick-rich scams, ICOs do not have a good reputation anymore. An IPO is also not a viable option for most of these companies due to high-costs involved in issuing an IPO. Security token offerings (STOs) are a good alternative for a large number of companies that want to raise capital. STOs are fully regulated, affordable through automation via smart contracts on the blockchain and have many other benefits.
Autradety was invited by Polymath to their Consensus event. The Canadian company gave a demo of their most important product, an interface with which the process of security token offerings can be managed. It also announced the development of a blockchain called Polymesh. In contrast to the current application, Polymesh will no longer run on Ethereum but on its own network. This will allow Polymath to issue security tokens in formats other than Ethereum’s ERC-1400 in the future. Polymesh is led by Charles Hoskinson, one of the co-founders of Ethereum.
At Consensus there was another company with an alternative to security tokens based on Ethereum. Blockstream demonstrated its new platform that allows users to create security tokens without ethereum code. It runs on Liquid, a side chain from Bitcoin.
A side chain is a separate block chain that is connected to the main chain, or the parent block chain. The two-way link allows the main chain and the side chain to communicate with each other. In the case of Blockstream, the strong features of the bitcoin network are retained, such as BTC’s secure multi-signature smart contract. BTC’s limited scalability of around 13 transactions per second is captured by Liquid, which supports thousands of transactions per second. Liquid also adds STO features, making it compliant with international securities regulations. Best of both worlds.
Consensus has made it clear that security token offerings are not just a hype and is here to stay. Developers such as Polymath and Blockstream are working on STO platforms that are compliant and there are plenty of other services to offer security token offerings such as STO marketing and STO legal.
Various open debates with policymakers is clearly making many government agencies embrace STOs. It takes investing to the next level and will definitely reshape how people invest in a secure and reliable environment and how companies can raise capital in a cost-efficient manner.
As a full-service security token platform, Autradety is dedicated towards building a strong ecosystem of companies, investors and STO experts. At Consensus 2019, we connected and interacted with a lot of companies and enthusiasts who are passionately working towards creating a vibrant environment for STOs. We will soon be announcing great things coming out of our exciting new partnerships with some of the best minds in the business.
Autradety aspires to become a big unifier for all players in the field of security tokens. We are revolutionizing the way people invest, while helping companies raise funds easily.
Join the revolution. Contact us if you are interested in investing in security tokens or want to raise capital with an STO.
