Bitcoin startup, Blockstream has announced at the ongoing Blockchain Week in New York, the release of its token issuance platform based on the Bitcoin blockchain.
According to a Coindesk report about the development, the newly launched platform will allow users to issue tokenized securities using Blockstream’s Bitcoin sidechain network called, Liquid.
The platform will remove the ambiguity of token issuers having to write codes and replace it with a web interface that allows anyone to create and launch these tokens without relying heavily on coding.
For instance, the report notes that core security token features such as regional restrictions and investor accreditation can be done with a few clicks, why underlying bitcoin multi-signature smart contracts implement the needed changes.
Commenting on the newly launched platform and how it would fair against already existing token issuance protocols like Ethereum, Blockstream’s CSO, Samson Mow said in the report,
“Businesses around the world are racing to take advantage of the tokenization of securities. Unfortunately, blockchain platforms like ethereum are failing them due to issues with scaling, privacy, and reliability.”
He then added that with the launch of Liquid Securities, businesses could quickly issue security tokens with the click of a button, and also “establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required.”
Although Blockstream confirmed that at least three companies are waiting to embrace its token issuance platform, it is worth noting that the startup could face stern competition with many firms now setting up token issuance venues in recent times.
Among several other entrants, Stmarket.co reported in March that the Gibraltar Stock Exchange (GSX) is working on a security token issuance and trading platform. Another blockchain startup, Harbor released a similar platform in December.