Science Blockchain To Be First Security on Overstock’s tZERO Exchange

ICO Boom

New ICOs generate new digital tokens each week, which are traded on various digital exchanges, and the ecosystem surrounding these coin offerings has grown to represent $2B:

Of these tokens, most are application tokens, which are meant to be used as currency within that company’s particular platform. A much smaller fraction of these tokens, however, are security tokens. These serve to represent a stake in a company or fund. In July, the SEC stated that these particular type of securities tokens have to abide by SEC security regulations.

One token in particular that is compliant with SEC security regulation will be Science Blockchain’s SCI token. With over 6 years of experience building disruptive products and businesses, Science Blockchain will provide accredited investors the opportunity to buy into their new blockchain incubator. Hence, Science Blockchain will be the first legal security token listed on Overstock.com’s digital exchange.

Tokenized Securities to Come

Overstock.com Inc CEO Patrick Byrne has witnessed this recent boom and believes that all securities will eventually be tokenized and traded using blockchain technology. Byrne claimed, “it’s a cleaner, more efficient, less expensive market. It will start with ICOs, but all the forces of economics will drive blue-chip issuers to this, and eventually we’ll see the first McDonalds or GM tokens. This isn’t going to stay a novelty.”

Overstock.com Inc subsidiary tZERO is teaming up with Argon Group and RenGen LLC to create this first ever digital token exchange that is compliant with SEC and FINRA guidelines. This will not only open the doors for security token trading for crypto investors, but also encourages already existing securities to become tokenized. Why wouldn’t a security want to be tokenized?

Crytpo Times