Famous Bitcoin startup Blockstream has just announced they will be launching their own Bitcoin sidechain. Called Liquid, the sidechain will be exclusively for security tokens.
Blockstream had a major announcement at this year’s Consensus conference. One of the first Bitcoin startups, the company announced that they would be releasing a product on top of its Liquid Network sidechain. The sidechain was designed to allow for faster coin transfers and built-in privacy. However, now it will also include a platform for security tokens.
Providing Simple Security Token Solutions for Businesses
Blockstream CSO Samson Mow said that tokenized securities are currently a race many businesses are following. He said:
“Unfortunately, blockchain platforms like ethereum are failing them due to issues with scaling, privacy, and reliability. […] Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button, and establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required.”
A few security tokens hae already lined up to launch their tokens on the Liquid platform. These include BnkToTheFuture, TokenSoft, Zenus Bank, and Pixelmatic.
The Liquid platform will have a simple web interface where businesses can easily issue and monitor tokens. Creating a token has built-in compliance.
Do you think Blockstream’s new platform will become a major stepping stone for the security token industry? Let us know your thoughts in the comments down below.
Image courtesy of Bitcoin Magazine.