Long the Bankers! Why Security Tokens Need Trusted Middlemen
Ami Ben David's original article for www.coindesk.com reduced by 40%
Ami Ben David is co-founder and managing partner at SPiCE VC, an investor in multiple security token-related companies and co-founder of the Ownera Foundation. The pioneers of the security token industry started it with an eye to retail investors - after all, security tokens evolved from retail-focused initial coin offerings. Security tokens may share some technology with ICOs, but they represent something completely different, the digitization of the way humanity decides who owns what on an immutable shared blockchain ledger.
Even the name is changing - instead of "Security tokens," industry insiders have already switched to "Digital securities," and to the more appropriate "Smart securities". If you look at the current wave of first-generation security tokens, you will see that a few of them provide detailed information and disclosures about token-holder rights, but most are lacking. With some security token,s you practically have to be a detective to know what you're buying.
Basically, the KYA for a smart security should simply be a folder of documents, where everything you need to know about your rights as a token holder is clearly laid out.
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Summarised crypto news.