In 2018, discussions around blockchain, virtual currencies and digital tokens have not lessened as a result of the decline in cryptocurrency prices. Instead, more focus has been put on the technology and business applications. Using blockchain technology to tokenize tangible and intangible assets, empower the financial underwriting industry and expand the availability of marketable goods has also become an important cross-disciplinary topic. The security token offering (STO) and tokenized asset offering (TAO) application cases worldwide have raised the curtain on asset tokenization in 2019.
Earlier, the Beijing Financial Supervision Authority had stated that STO financing is an illegal financial activity in mainland China. Commenting on this, Neil Lee, co-founder and CEO of LeadBest, said, “I see no issue with their position. This is a protective mechanism as there is no legal basis for STOs in China and many fraudulent ICO projects had been repackaged to cheat consumers. The applications of the blockchain technology in countries and regions with well-established financial systems, including North America, Japan, Hong Kong and Singapore, continue to thrive.”
Based on the characteristics of STO, LeadBest has summarized several key elements of a token offering, including the international thinking behind such an offering, the complete design of a token economy, high-quality underlying assets and a legal basis for compliance. With these in mind, LeadBest has created Asia’s leading asset token economy ecosystem.
Polymath works strategically with LeadBest to promote technical and regulatory standards
“Polymath is committed to building a universal STO platform that is accessible to everyone, and, as a result, we are the first to have successfully become a provider of complete technical services,” said Heslin Kim, VP of Business Development, Polymath. “This is a new market for us, so the collaboration with LeadBest can not only help us clarify market trends and policy direction, but also reduce the obstacles to market development.”
“At present, STO has a huge share of the global market, requiring industry players to jointly formulate industry rules and give play to their advantages in accelerating market development,” said Neil Lee, LeadBest co-founder and CEO. “As a market leader, LeadBest hopes to develop a deeper level of cooperation with offering platforms, accounting and law firms, government authorities, exchanges and underwriters to jointly build a sound ecosystem.”
Key token economy model design, to create a new investment model
LeadBest stood out from its rivals in the 2018 Token Design Competition, winning the Best Incentive Scheme Design Award with its dual-pass incentive cycle model of functional token and securities token. In 2019, LeadBest plans to provide offering technologies and asset management platforms to assist Asian real estate private equity fund PSIM in offering its first asset token. “As blockchain technology keeps complete transaction records, we expect that the collaboration with LeadBest can help reduce the cost of investor management and enable investors to engage in more systematic and efficient investing, while connecting global capital and growing the number of financing channels,” said PSIM managing director Joanna Tien.
Asset tokens are expected to open the door to business opportunities valued at up to $100 trillion. Whether it is jewelry, art, real estate or security tokens, the tokens will provide more investor-friendly participation opportunities.
LeadBest’s Proof of Lead salon invited executives from Polymath, an international STO platform, KPMG, one of the world’s top four accounting and law firms, and PSIM, the world’s leading Asian real estate development private equity fund, as well as Colin Cheng, founder of Fintech CPA and accountant with both US and Taiwanese certifications. At the event, participants not only expressed their optimism about the rapid development of security tokens, but also said that the implementation of application cases will help to set industry trends and clarify the legal aspects.
LeadBest Official Website: https://leadbest.io/
Polymath Official Website: https://polymath.network/
PSIM Official Website: https://www.psim-jp.com/index.php
