As the SharesChain community already knows, we believe that next mega-trend in crypto as the emergence of assets tokens which backed by real assets like cars, houses, equity, LP shares or commodities. We expect there will be thousands in existence, even it is so hard to launch one. Firstly we need a blockchain based network to lowers the barriers to launch securities in the same way Ethereum made it easy to launch utility coins.
In our previous article titled, “What are Smart Contracts and how can they be used for assets?” we discussed some generic uses for smart contracts, how smart contracts function and ways the general uses can be applied more specifically to assets. In case any readers missed that post, here is the link to that article: https://medium.com/@SharesChainITO/what-are-smart-contracts-and-how-can-they-be-used-for-assets-89253a7b057c.
We would like to share the exciting news with you, the SharesChain Pre-sale will commence soon. We will only be accepting ETH during this event and investors will receive SharesChain Tokens, SCTK, in return once the event closes.
SharesChain is a community-owned fundraising network. It acts as a bridge between the real-world Assets (e.g. equity) and the blockchain space. SharesChain allows off-chain companies and other entities to efficiently fundraise capital at a very low cost by tokenizing part or all its assets in the SharesChain ecosystem.
A Smart Contract serves a very similar function as a contract does in the real world. Contracts, in typical cases, involve two or more parties that agree on certain terms, sign the contract, and once these terms have been carried out and both parties are content, the contract is deemed fulfilled. Smart contracts employ the same principle but are able to operate automatically via an algorithm that has the terms of the contract embedded within it. This allows for trust in a space where setting up certain types of deals can be difficult.
A common realization among crypto-enthusiasts when they acquire their first coins or tokens typically slides on a scale of, “Well great, now what will I do with it?” So, this hypothetical enthusiast then progresses up the ladder of online articles to find out ways to exchange these tokens for a fiat currency.
Tokenizing refers to the digitizing of an asset by issuing a digital representation of said asset and placing that on an immutable ledger, the blockchain. Essentially, it is the allowing assets to be transferred into a blockchain and facilitated as a record of their ownership. Aside from some immediate advantages, like eliminating the need for personally storing and trading physical assets, this presents a variety of new possibilities.
A common question we receive is, “What’s the difference between an Asset Token and a Currency Token?” To clear up some jargon right off-the-bat, Asset Tokens, or more accurately, Coins, represent shares, equity, or some other legally grounded asset, which is usually based off a company’s evaluation. Currency Tokens, less accurately referred to as Coins, also go by Gas Tokens, and sometimes Value Tokens, are not based on assets and thus have a value inherent to the mechanism that allows them to be distributed.
Let us say you wanted to sell your house tomorrow, you would likely have to go through a series of agents, bank reps, prospective buyers, etc. This tedious process could take weeks, months, or even years. Well, what if you could speed up that process by uploading your house to the Internet? You obviously won’t be plugging it in through a USB port anytime soon; rather, you could upload the deed as a digital asset powered by a smart contract. In principle, then, you can make your house available to investors around the world. This, and so much more, is the value of Asset Tokens.
SharesChain connects the encrypted economy in the virtual world to the shares of companies in the real world. It innovates technologically and legally, to facilitate a bridge between investors and companies. For a quick and general understanding of the terminology used in this article, you may refer to our short article titled, “The Difference Between Asset Tokens and Currency Tokens.”
There are four main modes of operation when using the SharesChain platform: providing companies and individuals a legal understanding of what is needed in their jurisdiction, access to legal service specialists, smart contracts that obey the law, and investors or collaborators who participate in the exchange of said assets using the SharesChain Token.
It has been nearly two and a half years since the founders of SharesChain got together to discuss this innovative blockchain concept of putting assets on the blockchain. There have been many challenges, but we have been able to keep our eye on the target and surpass them at every turn. The goal of digitizing assets on the blockchain has endowed us with the perseverance needed to push forward.
SharesChain is an advanced blockchain network that allows users to put real assets from their everyday lives into the digital world. There are presently many problems for companies and individuals wishing to digitize their assets in a lawful way. There are also plenty of problems for investors wishing to buy assets, or equity and shares in these companies due to a lack of legal knowledge, legal awareness, and general trust.