Global Stock Exchange Launches a Tokenized Securities Platform Called Grid

Global Stock Exchange Launches a Tokenized Securities Platform Called Grid
May 12, 2020


The cryptocurrency market remains range-bound with a slight bearish bias. Notably, Bitcoin (BTC) blockchain underwent a halving event without any glitch. However, to a certain extent, market participants were disappointed as the price of Bitcoin did not flare up. In fact, some of the large investors chose to dump their holdings near $10,000 level. In the past 24 hours, Bitcoin, which has a market capitalization of $158.038 billion, has lost about 1.6% to trade at $8,599.20.

Ether (ETH) has lost 1.1% to trade at $187.11. XRP has lost 2% to trade at $0.1941. Other major altcoins which have lost in the past 24 hours include Tezos (XTZ-2.46, -3.9%), Ethereum Classic (ETC-$6.01, -3.5%), Cosmos (ATOM, $2.42, -3.7%), Dash (DASH-$70.06, -3.1%), ChainLink (LINK-$3.59, -5.1%),  IOTA (IOTA-$0.1782, -2.5%), EOS (EOS-$2.42, -1.1%), Tron (TRX-$0.0141, -1.2%), Binance Coin (BNB-$15.11, -1.4%), Huobi (HT-$3.81, -0.5%), Litecoin (LTC-$41.68, -1.2%), Bitcoin Cash (BCH-$233.92, -0.2%), Stellar (XLM-$0.0627, -2.3%), and LEO (LEO-$1.09, -1.1%). The major altcoins which have gained in the past 24 hours are Cardano (ADA-$0.0484, 2.5%), Monero (XMR-$59.52, 0.5%) and OKB (OKB-$4.88, 1.1%).


Government level initiatives

Sejong to initiate blockchain platform to validate digital identities of autonomous vehicles

Sejong, a South Korean city, used for piloting several essential smart city solutions, disclosed on Friday that it would set up a blockchain-powered platform for holding and validating digital identities of autonomous vehicles.

In this regard, South Korea’s Ministry of Science and ICT has joined hands with the country’s internet technology monitoring body, Korea Internet & Security Agency, to create an identity administration and validation platform.

As per Sejong city authority, the blockchain-powered technology platform will “greatly increase the credibility of data by strengthening the security of information shared by cars and their control tower.”

Even though self-driving vehicles are yet to become the mainstream reality, Sejong has already taken steps to battle criminal acts using these technological developments.

LG CNS, the tech division of LG Group, and Korean autonomous shuttle manufacturer will be working in tandem with Sejong city government to build a blockchain-powered encrypted identifier named decentralized identifier (DID). This could assist in stopping illegal use of identities or hacking autonomous vehicles.

The report details that the identity validation system will install several layers of encryption to the info shared between automobiles and other on-road services utilizing “vehicle-to-everything,” or V2X, interaction.


Private level initiatives

Global Stock Exchange Group launches Grid

Global Stock Exchange Group, a Gibraltar-headquartered financial technology company that implements blockchain solutions to lead inter-operation between cryptocurrency and conventional markets, rolled out Grid, a tokenized securities platform in Estonia. The platform paves the way for the tokenization of fresh and prevailing debt securities and funds. The Global Stock Exchange Group (GSX) also intends to offer a similar facility for equities during the second stage of its launch. Grid also permits linking custom-built smart contracts to every digital security.

Nick Cowan, CEO of GSX Group, explained that the Grid is “the first step in a phased development approach that commenced during 2018,” involving “a venue for the creation and deployment of tokenized digital securities, dubbed smart securities.”

GSX runs offices and trading centers in London, Gibraltar, Hong Kong, and Singapore. The firm visualizes that its tokenized securities ecosystem will soon start providing “pan-jurisdictional interoperability,” paving the way for end-to-end exchanges.

Cowan said, “This is a key benefit of the GSX Group smart securities system. It is part of a capital market vision, where post-issuance on the GRID, tokenized digital securities are able to be admitted for trading on one of GSX’s tokenized securities trading venues — subject to relevant regulatory permissions and qualifying conditions.”

Notably, Offerings based on EU-based debt instruments, created using Grid platform, can get listed on GSX’s trading exchange in Gibraltar.


Verady collaborates with Algorand

Verady, a crypto tax provider, has entered into a collaboration with Algorand (ALGO) to provide accounting facilities to holders of ALGO tokens. Verady also disclosed that its tech is being utilized by Algorand and for their in-house accounting and auditing purposes.

Verady’s co-founder and chief executive, Kell Canty, stated that the recent collaboration is the outcome of many months of negotiations between the companies. The deal with Algorand has seen Verady embed ALGO into its software. Canty remarked that “ALGO Holders will be able to associate multiple wallets with their Ledgible account in an easy to use and intuitive way.”



Blockchain tech enhances 5G mobile networks

Chairman of China Telecom blockchain, Jiang Wei, and Digital Economy Joint Laboratory, pointed out that blockchain technology offers considerable benefits that could enhance the 5G mobile network.

As per an assessment by China Telecom last year, the country’s 5G services are anticipated to have roughly 170 million subscribers by the end of this year. Wei stated that China Telecom anticipates blockchain to perform a critical part in trusted administration and safe communication among several network participants.

Wei pointed out that blockchain adoption by 5G will assist the telecom industry in crowdsourcing the 5G framework. He also believes that blockchain will assist in realizing 5G usage monitoring and sharing of resources.

China Telecom is also trialing with blockchain to enhance global roaming services. He views blockchain as a method to remove the requirement for intermediates.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.


Andrew Wright

Prior to founding in 2014, Andrew worked as a proprietary trader, then as a market maker. As a market maker, he traded options in over 100 stocks, he then began trading currency pairs in 2013. Andrew still actively trades both, and prides himself on educating and informing traders on the benefits of both Binary Options and Forex.

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