EDC Releases Updated White Paper for Blockchain-Based Securities Register

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b2def25e-3e5c-4e4f-bdf1-903d1b3ac510The full report can be found at equibit.org and at Cornell University’s arXiv e-print archive

TORONTO, Ontario — Equibit Development Corporation (EDC) has released a revised and updated white paper for its Equibit platform, a blockchain-based securities register.

“Since the publication of the original white paper we’ve made a number of advancements in the Equibit software. These changes have improved Equibit significantly in a number of ways, so much so that we felt it necessary to re-state just what it was that EDC had built,” said EDC CEO, Chris Horlacher.

The Equibit platform will make equity trading far more efficient, removing the need for middlemen in clearing transactions and opening the door to unlimited trading, open all day, everyday.

“Equibit’s platform is built on a custom blockchain, eliminating the lack of transparency, security, clearing and clearing costs that are associated with today’s system,” said Horlacher, adding, trade data as well as earnings distributions will be readily available to all users of the Equibit network.

According to Horlacher, Equibit will completely replace the depository and transfer agent layer of the securities industry with a blockchain-based equity register that does settlements in real time.

The white paper offers further details on the platform’s investor relations communication protocol, which makes the distribution of bid/ask orders, proxy assignments, meeting notices, management discussion, analysis reporting and more, simple and efficient. Issuers are also able to privately poll their shareholders and create a transparent vote tally that all participants can audit.

“A compliance system for the private market has also been added to the software,” said Horlacher, which the updated paper discusses. “This allows issuers and investors to easily and quickly connect to private trading communities on the network where everyone has been through the KYC [know your customer] process and there is no more need to do this due-diligence work on a transactional basis.”

Blockchain encryption also ensures that information stored and transferred across the Equibit platform is only available to the appropriate parties.

“We’re confident now that we have the most robust and secure peer-to-peer equity platform ever devised and are ready to move the industry into this new paradigm,” said Horlacher.

Equibit Development Corporation will open its Initial Coin Offering (ICO) on Feb. 1, 2017, which will be hosted at the company’s website, equibit.org. ICO listing information can be found at tokenmarket.net and smithandcrown.com.

About Equibit Development Corporation

Equibit is the world’s first peer-to-peer equity marketplace and a complete platform for issuers to manage their investor relations without need of depositories and transfer agents. Founded by a former securities industry chief financial officer and a team of blockchain development experts, EDC was established with the aim of revolutionizing the securities industry.

The full report can be found at equibit.org and at Cornell University’s arXiv e-print archive