ZUG, SWITZERLAND, June 27, 2019 /EINPresswire.com/ — BetterTokens is proud to announce the new partnership with BSI Group.
BSI Group is the UK National Standards Body that helps organizations all over the world make excellence a habit. The primary objective of our partnership is the development of a standardization document (PAS 19668) that specifies requirements to enable the interoperability of security tokens for exchanges, wallet providers and settlement protocols.
The PAS aims to define minimum requirements for the classification and issue of security tokens to lower the risk parameters for security token exchanges and other relevant infrastructure participants.
BetterTokens Role in the Project
BetterTokens will participate in Steering Group (SG). We will be responsible for the development of PAS draft, draft approval, and comments resolution including:
a) Providing a broad-based representation of the industry to which the PAS relates;
b) Providing technical expertise and sourcing relevant technical information;
c) Reviewing PAS drafts line-by-line and submitting comments;
d) Building consensus through a resolution of SG and public comments during SG meetings;
e) Identifying stakeholders to be on the Review Panel.
Goals of Our Partnership
The key goal of our project is the PAS publication. The exact date will be announced during a special event in April 2020.
Security Tokens market, in the current state, suffers from the lack of technical standards.
We hope that through the collaboration with BSI Group we will solve this problem developing technical standards for security tokens issued and traded on different platforms. Along with that, we aim to help platforms that issue and trade security tokens reduce the risk of fragmentation.
In the near future, we aim to build new partnerships with companies working in security token industry. The first partner that will accept developed standards and will share their experience of the market is Tokenomica. Tokenomica is the ecosystem for security tokens issuance and trading. One of the products in Tokenomica’s ecosystem is Security Tokens Issuance Platform (STIP) that allows automated issuance of security tokens in the form of “Tokenized Securities”. After the acceptance of PAS, STIP will issue all security tokens in full compliance with the standards outlined in the PAS document.
Tokenization Standards Association