Amazing Blocks joins startup and innovation hub TechQuartier
We are pleased to announce that Amazing Blocks has joined the startup hub TechQuartier (TQ) in Frankfurt am Main, Germany. As the most prominent tech hub in the region, one with a diverse and globally connected startup community and numerous corporate partners, TechQuartier will help Amazing Blocks make strides in the finance capital of Frankfurt. This membership will enable Amazing Blocks to utilize the numerous resources, contacts and acceleration programs this opportunity provides. Constant expansion of our ecosystem to scale our business is guaranteed by the TQ network for Amazing Blocks. TQ especially delivers stellar networking conditions, a future oriented community, the chance to work alongside other innovators from a range of industries, and also enables direct access to established global players and academic institutions.
TechQuartier has been designated by the Federal Ministry for Economic Affairs and Energy as Germany’s “FinTech Hub.” It is located in the financial metropole of Frankfurt and was founded by the city council of Frankfurt, the renowned universities of Frankfurt and Darmstadt, as well as the WI — Bank for innovation in Hesse, Germany. Access to a unique ecosystem of corporates, investors, talents, startups and mentors is provided to each member. With its vast amount of programs and events, TQ’s mission is to provide innovators with the tools and resources they require to foster growth. Additionally, the partner network is second to none with established players such as Visa, EY, PwC and others illustrated in Figure 1 below. Moreover, the vibrant startup ecosystem offers over 3,200 square meters of flexible working space for startups, scale-ups, and the innovation teams of established companies.
About Amazing Blocks
Tokenization will inherit a key role in the future of Web 3.0 with billions of dollars expected to be invested in this space by 2027 according to multiple reports. Amazing Blocks supports with its IT solutions the legally compliant tokenization of equity and asset ownership in line with the Liechtenstein Token Act. Amazing Blocks was recently founded in Liechtenstein while using Ethereum as an initial contribution — a significant benefit of the legal framework. Hence a bankless incorporation was conducted. Subsequently, we also generated the first ever equity tokens for an AG in Liechtenstein — a true milestone we are proud of. The goal is to offer 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) is seamlessly integrated in one solution or one legal form.
All in all, the “digital AG in Liechtenstein”, which uses the Liechtenstein Token Act, allows a very efficient foundation, a very efficient operation of a company in Liechtenstein and thus above all an efficient and flexible tokenization. This should now make a wide variety of tokenization projects possible, because the costs for tokenization are reduced to a minimum. 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. Furthermore, equity tokens in line with the Liechtenstein Token Act can be for instance locked in DeFi protocols as collateral. This will provide much needed real world use cases and liquidity for the space on the one hand and on the other hand enables illiquid assets like real estate to participate in these innovative protocols. Possibilities of the Amazing Blocks software are displayed below.
Amazing Blocks at TechQuartier
“Being a first mover in the space of legally compliant tokenization of assets and equity, TechQuartier provides us with the perfect conditions to accelerate growth. We are more than happy to be part of this truly amazing community and look forward to networking and expanding our business. We will utilize the profound ecosystem of TechQuartier to establish ourselves in the crucial location of Frankfurt”, as Sofia Balogianni, the CEO of Amazing Blocks described the decision to join the TechQuartier.
The first opportunity to speak to the community of TQ will be on the 18th of November 2020, when Amazing Blocks will join the regularly hosted pitching event called “Icebreaker”. These and further events paired with so-called office hours (face to face meetings with corporates) will help us inform the world of finance about our distinct solution. Also, it will give us the opportunity to receive feedback on our achievements thus far. With more than 120 startups alongside us, we will feel comfortable to further push the limits of disruptive innovation in the age of Web 3.0!
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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 (that is, 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.
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