Running a corporation can be a massive undertaking. Whether handling assets, executing transactions, or managing document trails, the underlying operational dynamics can be quite complex.
The growth trajectory of new and emerging businesses worldwide shows no signs of abating. With this comes a steady stream of asset transactions, friction, and regulatory due diligence. Absent efficient corporate systems friction can occur in the corporate landscape resulting in greater expense and bottlenecks for those engaged in corporate governance and business operations.
equaSTART, an innovative startup providing a document creation and management portal for the smooth functioning of a business is poised to address these prevailing issues. In blazing a new path toward the frictionless flow of documents and equity ownership transactions, equaSTART will be employing a cutting edge solution tied to the Ravencoin blockchain.
Taking Flight With Ravencoin
Today’s equity transfer process has become quite intricate, often requiring a series of signatures and paperwork to execute. Shares of ownership in a company need good recordkeeping. It’s here where blockchain can automatically provide cryptographically sealed security mechanisms that validate every issuance, transfer, and sale of shares in an organization.
The Raven blockchain or Ravencoin, as it is more affectionately known, is a digital ecosystem that fosters the efficient creation and transfer of assets between parties. By employing a protocol tied to a fork in the Bitcoin code, it provides a mechanism for tokens to be issued on the Raven blockchain. This feature can help mitigate many of the complexities associated with managing corporate assets.
Embodying best practices and fully compliant methodology, these tokens can be individually tailored to reflect quantity limits, asset names, utility, and other qualities just like stocks on public exchanges like Nasdaq. The beauty here is that tokens can be produced within minutes and used to transact worldwide.
Raven’s supporters tout its advantages over Ethereum in terms of the ability of the protocol to differentiate assets and regular transactions. In general, it offers a more frictionless experience in the transacting of contracts and agreements between various parties.
All in all, it offers a more efficient, speedier process for digital asset transactions to take place.
By way of example, in December of 2018 Medici Ventures, a leading blockchain accelerator and a subsidiary of Overstock.com, Inc., successfully executed a digital securities token transfer tied to its equity ownership in Portsmouth, New Hampshire-based Chainstone Labs. This $3.6 million securities token transfer, one of the first equity tokens issued using a public blockchain, took place through the use of Ravencoin.
Here is a video highlighting this transaction:
Asked about Raven’s growing repute as a leading worldwide digital asset network, lead developer Tron Block had this to offer:
“Honestly, that’s not a claim that we’re making. In fact, I would argue that if there were only one leading digital asset peer-to-peer network, it very quickly fail under a tremendous load. We’ve seen this happen in the past with ETH and Crypto Kitties. So I believe there will be many of these networks, each suited to different purposes and large enough to be secure, and well distributed.”
He says that the Ravencoin Network as it exists today provides functionality like ERC-20, but with much better ease of use.
“Currently there are wallets for Linux, Mac, Windows, iOS, Android, and Web. You can create your own asset in ten seconds, and send it to anyone with those platforms.”
In terms of the sorts of solutions Raven hopes to deliver to EQUA Start, Black had this to offer:
“Ravencoin has new capabilities on testnet that are perfectly aligned with what equaSTART is seeking to do. Once messaging and memos hit main-net, the ability to transfer tokens and add additional data that is immutable using the combination of Ravencoin and IPFS will become a reality.”
Black says that the owner of a token with a private key associated with a name will anchor the trust. That token owner can then transfer tokens to himself or others, attaching hashes that are immutable.
He cites a number of equaSTART documents including incorporation, board meeting minutes, and changes to corporate purpose, where Raven’s value proposition could apply.
By aligning the blockchain advancements spirited by Raven, equaSTART is taking aim at creating a new normal for frictionless business by bringing living, breathing documents and digital assets all under one umbrella.
Trust. Consent. Radical Transparency. Community. Openness. Innovation — these are the “North Star” principles that serve as a guide for equaSTART’s ambitious foray into the management of frictionless business documents.
And Ravencoin is perched to help equaSTART take flight.
To learn more about Equa and sign up for a free trial, please visit us at www.equa.global