A Completely Tokenized Future; Decentralization & Big Tech; Investments Abound
RedBlock Newsletter #14- Week Ending October 11th
You no doubt heard about our partnership with Security Token Group last week. Well, this week marks our first syndication of the team’s Security Token Market (STM) content to our channels in South East Asia!
We are hosting their research reports on our site as well, the first of which is an Asset Tokenization Market Analysis report for the month of September, which you can read here!
Before we get into it, we want to say how honored we are to be chosen as the Security Token Show’s (STS) Company of the Week. STS is Security Token Group’s podcast covering current trends and events within the security token space. You can find the latest episode, which covers our partnership and the Company of the Week announcements, on STS’s Medium page.
And applications to be a RedLedgers beta tester are still open, so apply today!
Please fill in our application form if you are interested- Closed Beta Form
- A Declaration of Tokenization
Our first story of the week is probably the biggest, at least in terms of assessing government sentiment towards tokenized assets in the US. This past week, in a webinar panel, SEC Chairman Jay Clayton posited that in the future, the entirety of stocks could very well be tokenized. He added that he himself and the SEC were open to a tokenized exchange-traded fund, or ETF, saying, “‘we’re willing to try that; our door is wide open. If you want to show how to tokenize the ETF product in a way that adds efficiency, we want to meet with you, we want to facilitate that’”. (Decrypt)
2. Asset Digitization and the Korean New Deal
South Korea is taking marked and pointed steps towards transforming the Korean capital markets. During a seminar concerning “Virtual Asset Business Law” which was hosted by representatives of South Korea’s Democratic Party and Delio, a virtual asset lending company, conversation about digital assets found itself tightly linked to the forthcoming Korean New Deal. For context, the Korean New Deal is a national development plan looking at how the country can improve itself in a post-Covid era. Kim Tae-nyeon, Democratic Party floor leader, asserted that “’building an AI government utilizing blockchain is one of the main pillars of the Korean New Deal.’” He went on to talk about how this work needs to be done quickly. Equally exciting is the news that South Korean banks are already looking toward the blockchain, with one bank, Shinhan Bank, looking at how it can “play its role in the area of DeFi with a converged model of blockchain and financial service”. (Delio via PR Newswire)
- Blockchain as a Remedy- Making Sure Big Tech Can’t Get Too Big
A recent article by Kollen Post of Cointelegraph is asserting that the US government’s recent attempts to curb the power and consolidation of big tech make quite the case for a path towards decentralization. And this assertion is very founded. That is to say, with the recent (and not so recent) news of tactics used to crowd out and monopolize their respective spaces, as well as the recent, high-profile legal battle between Epic Games and Google/Apple really bringing these tech giants’ bullying into the spotlight, Congress wants to make sure this never happens again. If the United States congress is able to take the necessary steps to do so, this would “leave the field open for blockchain technologies that make concentration of power impossible not only illegal, but technologically impossible.” (Cointelegraph)
- Tokenized Real Estate in Singapore
Blockchain solutions provider HashCash has just formed a partnership with a Singapore-based Real Estate enterprise by lending their expertise about blockchain technology and how the real estate enterprise can leverage distributed ledger technology to bring about fractional ownership of properties. More specifically, HashCash will “be helping the Singaporean partner enterprise, leverage the power of… HashCash’s blockchain network and develop a tokenization platform where the estates can be divided and tokenized to be presented and sold to potential investors.” (Benzinga)
2. Draper Goren Holm Announces Investment Fund for Blockchain Startups
On Tuesday of this week, at the Los Angeles Blockchain Summit, venture studio Draper Goren Holm made quite a substantial announcement. In fact, it was a $25 million announcement. The venture studio, focused on incubating startups in the blockchain space, announced its new venture, dubbed Fund 1, which seeks to “invest in novel early-stage projects”. Having already opened an office in Austria, the venture will be an international one. (Bitcoin.com)
3. DeFiner Just Got Another Investor
DeFiner, the decentralized lending network, just found its latest investor, SNZ Holding, following Signum Capital and Alphabit. The advantage of this most recent investment is that it allows DeFiner to “leverage SNZ Holding’s support to refine the security protocols on its non-custodial digital asset platform, and stay ahead of the rapid development in the DeFi space.” (DeFiner via PR Newswire)
- “SEC Chairman Open to Crypto-based Exchange-Traded Fund”
2. “Korea Begins to Establish the Virtual Asset Business Law”
- “Congress’ renewed attack on Big Tech may clear the field for decentralization”
Investment and Financing Progress
- “HashCash to Help Leading Singaporean Firm with Real Estate Tokenization”
2. “Tim Draper’s Venture Studio to Triple-Down on Blockchain Projects With a $25M Fund”
3. “DeFiner Announces Latest Investment from SNZ Holding”
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RedBlock Inc is a digital investment and fintech firm leveraging blockchain technology for asset digitization and management, from issuance to secondary liquidity. Its global network of capital market participants, including issuers, broker-dealers, secondary exchanges, funds, liquidity providers and custodians, are supported by its end-to-end blockchain-powered asset management platform. RedBlock also manages an investment fund to support companies in its ecosystem that align with its investment thesis. With a growing track record and pipeline, the RedBlock team hails from top tier global investment banks, venture capital firms and blockchain technology companies.
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