LTO Network and Dusk Network will provide Dutch companies with lifetime access to blockchain benefits
Last year, we publicly announced the partnership between Dusk and LTO to enhance the Dutch digital share registry and tokenize the share ownership of thousands of companies each year. With the recent release of the Digital Share Registry, the collaboration enters its next phase: tokenization on Dusk Network.
3 major updates to share:
- The first Digital Share Registry launched on February 16th, 2021.
- The joint initiative increasingly enjoys regulatory agreement, as Europe and the Royal Dutch Association of Civil-law Notaries (KNB) express their desire for a digital share registry.
- The collaboration will enter the next phase: from Digitization to Tokenization.
The Digital Share Registry has been in the news frequently. In fact, European laws are currently being passed to mandate the inclusion of digital incorporation for the Netherlands. The Dutch Government has until the 1st of August 2021 to pass this law into effect. The Royal Dutch Association of Civil-law Notaries (KNB) has also confirmed their desire for a digital share registry.
Now, LTO Network and Dusk Network are collaborating to enhance the recently published Digital Share Registry with their blockchain solutions. In other words: the companies are jointly creating a Tokenized Share Registry.
In a Tokenized Share Registry, the company and its shareholders can seamlessly use other blockchain applications, such as trading infrastructure, or smart tools to quickly pay out dividend payments, organise shareholder votes, and more. And the best part is that companies are set up for a lifetime on blockchain with an ownership structure that grows alongside their company. This allows all kinds of businesses to access the benefits of blockchain, without requiring in-depth technical knowledge.
“When we talk with clients about the possibility of tokenization, they can hardly believe that at time of incorporation, they can already secure a way for themselves to attract growth capital down the line. Whether equity, debt, angel investors, with friends, or on a public exchange, they are in control to choose whatever best suits their needs, at a fraction of the costs.” said Rick Schmitz, CEO LTO Network
“Thanks to LTO Network, we are able to append the companies’ on-chain smart contracts with mandatory off-chain notary approval. This means we can bridge the gap between the physical and the digital, opening up a whole ecosystem of new possibilities for companies on the platform, and add thousands of transactions to the Dusk Network.” said Jelle Pol, Business Director Dusk Network
The Tokenized Share Registry is an essential part of fulfilling our ambition of a modern and fair financial ecosystem. Together with partners like LTO Network, as well as stock exchange NPEX, and Business accelerator Investor Ready, we bridge the gap between the traditional world and decentralized finance. Companies in the Netherlands are blessed with their early access to a fully tokenized value chain, and the competitive edge it provides them.
About LTO Network
The LTO Network team is on a mission to create and maintain a fully decentralized and highly efficient blockchain infrastructure, directly applicable and aimed at creating value for organizations. The main focus of LTO Network in 2021 will lean towards decentralized Identity and Self-Sovereign Identity. This will be the foundation to create new products & services such as one-click KYC for businesses and Cross-chain associations e.g. while retaining the GDPR compliance aspect.
About Dusk Network
Dusk Network is the privacy blockchain for financial applications. Dusk Network envisions a financial industry that embraces innovation and provides equal opportunity for any organization to secure capital, trade assets and access a full spectrum of financial services. Companies use the Dusk Network blockchain to issue tokens, trade and collaborate via smart contracts. Dusk Network recently became a shareholder of the Dutch Stock Exchange: NPEX.