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

With the International Token Identification Number (ITIN), ITSA has developed an open market standard for the safe and secure identification of cryptographic tokens. Its growing implementation will increase transparency and reduce operational risks. The ITIN — a unique token identifier — provides unambiguous identification and a built in security feature through a 9 digit alphanumeric identifier. Supported by the International Token Classification (ITC) this framework classifies tokens based on multiple dimensions (tech, legal etc.). As of today more than 800 tokens have already been verified with ITSA. The TOKENBASE offers extensive time series data for analysis of tokens identified and classified through the ITIN and ITC. In addition to this, it is continuously adapted and extended with aspects such as market cap, trading volume, daily prices, social media information, and codebase data retrieved from industry leader GitHub. The success of ITSA speaks for itself. The list of ITSA members includes many established players in the blockchain and financial sector like Boerse Stuttgart, solarisBank, micobo, Blocksize Capital and many more.

About Amazing Blocks

Amazing Blocks was recently founded in Liechtenstein, offering the perfect solution for tokenization projects (e.g., real estate, cars, machines): To be precise, this means flexible tokens (e.g., equity tokens or debt tokens or participation rights as tokens) in accordance with the Liechtenstein Token Act — which from a foreign point of view then represent, e.g., a normal (un-traded) security. Then technology and the law (i.e., Liechtenstein Token Act) are integrated in one solution or one legal form. Leveraging our own solution, we were the first to ever tokenize true equity of an AG in Liechtenstein resulting in 600 Amazing Blocks tokens. They can be seen on Etherscan here. These tokens effectively prove that the Liechtenstein model seamlessly merges tech and law. Furthermore, a Liechtenstein bank is also no longer needed, because the share capital for the new AG can be provided by crypto currencies such as ETH if desired. These accomplishments and possibilities make Amazing Blocks a predestined fit for implementing the standardization tools provided by ITSA into their business.

Opportunities that come across with having an ITIN

Amazing Blocks is the perfect match for a non-profit oriented organization like ITSA. The common goal is to shape a still very fragmented industry with few standards and regulations and to find solutions to achieve a steady increase of mass adaptation and mainstream application. Amazing Blocks will function as the gateway from the “physical world” to the new “digital world”. Newly tokenized projects, assets and rights can be integrated into the prospering ecosystem of ITSA. The earlier an universally applicable standard like an ITIN is set, the more costs for aligning an even further divided industry in the future can be saved. Sofia Balogianni, CEO at Amazing Blocks issued the following statement regarding the impact of this milestone: “Combining a software to tokenize assets and a standardized token identification system attached to the extensive database hub that ITSA provides will be crucial in fostering a standardized token economy. Now an ecosystem is in place and ready for taking its disruptive path toward enhancing the contemporary financial structure.”

Figure 1: Data about Amazing Blocks’ Token

Remarks

Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to comment or endorse the article or some parts of it, feel free to leave a private note here so we can address it properly. Thank you.

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