Stobox Weekly Report 10/2021
Technical and Product Development
Our team is growing! Last week we have hired 2 more engineers to join our product development and we plan to increase our tech team from 6 to 20 in the near future.
First traction! As you may know, we have launched our own STO on Stobox DS Dashboard. First investors registered, passed KYC, and received their tokenized shares. Live products are much more sensitive to changes and require 24/7 control. Moreover, we have received first feedback from users and a list of bugs to fix.
As securities are being stored on the blockchain it is critical to implement the role management system. At the same time, corporate securities behave differently from payment or utility tokens and have to correspond to a set of corporate actions and legalities.
We have introduced several roles to make sure a company can enforce any actions that the Management/Board of Directors decides on. They are:
- Whitelister – only a blockchain address with this role is allowed to whitelist investor’s wallets. Security tokens may only be transferred to a whitelisted wallet. This is a role for a KYC manager.
- Limiter – this role may increase limits for both primary and secondary transfers of digital securities. For example, if a certain investor is whitelisted, but is limited in the number of securities they can purchase.
- Transporter – this role is allowed to transfer securities from any address to any address. For example, an investor lost private keys or is incapable of managing his securities. In this case, a company would need legal action and rights to move funds on behalf of its investor. Please keep in mind that any actions with corporate securities have to have legal grounds.
- Freezer – this role has a right to freeze security tokens. There may be cases where an investor may have legal issues and securities have to be locked to avoid fraud.
- SuperAdmin – as the smart contract is being deployed from a single wallet we need to make sure that other wallets may have the same rights as the Deployer. For example, a CTO deploys a contract but assigns roles of SuperAdmins to every founder of the business. Only SuperAdmin can assign roles.
The implementation of the Role Management System creates flexibility and provides better functionality to enterprises of any size.
Stobox Securities Smart Contracts are public and License Free! You can test it, learn from it, upgrade, and implement! We believe that the more people use our contracts, the faster the industry of Tokenized Securities develops.
Unfortunately, we have to announce that we will not launch the Exchange in Q1 as declared in the roadmap. However, we are doing our best to strengthen our dev team and meticulously focus on high-priority functionality. Later this month we will release a vision behind the exchange and will share it with our community.
Analytics & Business Documentation
- Researched Luxembourg Legislation on Digital Securities;
- Listed STBU on Investing.com;
- Filed out 50% of the BnkToTheFuture listing application.
New projects in a pipeline:
- International real estate development company with a focus on the UK and the Middle East
New signed contracts: 0
Demo with leads: 2
Website leads: 6
Marketing and Production
- Published Stobox STO overview on the main mage of Tier-1 finance media Securities.io;
- Published Stobox press-release on the Tier-1 blockchain media MarketWatch;
- Published a video-pitch about why to invest in Stobox from Co-Founder Borys Pikalov;
- Recorded a podcast “Tokenizing Everything” for AmazingBlocks with Borys Pikalov;
- Released the second video about the DS Dashboard where we explain how the DS Swap works;
- Announced participation in the foresight “Virtual Assets 2030”;
- Recorded a Stobox interview with Jakob Bosshard;
- Stobox Co-Founders recorded an interview for the crypto YouTube channel NomadFury;
- Pitched Borys Pikalov to several podcasts and interviews;
- Stobox website updates.
Legal and Finance
- Managed KYC checks of new investors;
- Preparing a financial/tax report to IRS (US)
Finally, I would like to thank all of our team members, active partners, and community members who contribute to Stobox! Have a great week!
With warm regards,