Amazing Blocks becomes a member of the International Tokenization Standardization Association; ITIN V26C-BFWT-4 assigned to Amazing Blocks equity tokens

We are pleased to announce that ITSA assigned ITIN V26C-BFWT-4 to Amazing Blocks’ tokenized equity tokens making Amazing Blocks the latest member of the International Token Standardization Association (ITSA). By becoming a part of the ecosystem of ITSA, Amazing Blocks is again one small step closer to build an ecosystem for tokenization. We not only offer a software solution for tokenization, but also the necessary guidelines to make it suitable for clients and investors. Therefore, joining ITSA is the next logical step in our development and we are looking forward to a successful cooperation in the future.

About ITSA

About Amazing Blocks

Opportunities that come across with having an ITIN

The goal of Amazing Blocks is to bridge the gap between the world of tokenization and traditional assets in the finance sector. As a consequence, a vast number of tokens will be issued and subsequently managed through our software. These projects will now have a direct entry point into a globally recognized system for the allocation and standardization of tokens. In order to steer this development in an organized way, it is essential that tokens can be assigned unambiguously, permanently, and internationally standardized. Working only with the name, the ticker or the intelligent contract address of the token is error-prone and will not work reliably in the future with an increasing number of tokens. ITSA’s work and having an ITIN ensures that when a token is transferred, purchased or referenced, it is always the correct token. As Amazing Blocks works directly on the tokenization of assets, it is essential for us to be able to integrate tokens into an established system. This makes the ITIN the ideal identifier that embraces the decentralized nature of the token economy. This meets exactly the vision of a healthy growth for the token economy that we strive for at Amazing Blocks.

For us, as the first company in the world to tokenize our own equity tokens leveraging the Liechtenstein Token Act, the assignment of the individual ITIN V26C-BFWT-4 to our equity tokens was a very important step (see Figure 1). The source data in ITSA’s token register can be inspected here.

Figure 1: Data about Amazing Blocks’ Token

We will work closely with ITSA in the future to continue to use the strong existing ITIN ecosystem. Everything that will be tokenized in the future can now be provided with its own ITIN and can thus be assigned globally with the UTL (Token Identifier). If you want to deepen your knowledge and learn more about ITSA click here.

Remarks

Amazing Blocks offers a tokenization solution that enables its clients to tokenize various assets according to the Liechtenstein Token Act (software-as-a-service). The software covers both the issuance of tokens and investing in tokens. It suits the needs for tokenizing all kinds of assets (e.g., machines, cash flow generating contracts, trademarks, real estate, cars). Imagine that some asset should be tokenized. For this asset various tokens would make sense: Equity tokens, debt tokens, participation rights as tokens, ownership tokens, or any mixture of these tokens. The software of Amazing Blocks helps issuers to handle multiple assets and to issue multiple tokens for these assets. This is possible by integrating blockchain technology with the law (i.e., the Liechtenstein Token Act). At the core, there is the “digital legal entity in Liechtenstein” based on “tokenized shares” which allows a very efficient foundation, a very efficient operation of the company and, thus, an efficient and flexible possibility to tokenize assets. This should now make a wide variety of tokenization projects possible, because the costs for tokenization are significantly reduced.

Interested? Then, contact us! Are you interested in what Amazing Blocks is doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.

Digital legal entities in Liechtenstein based on true equity tokens to tokenize any asset in a standardized way to save time and money. - www.amazingblocks.io