Paypal: David Oliver Sacks joins 0x
Traditional investments such as real estate and societal actions are well on their way to becoming investment in cryptocurrencies. Although securities-style tokens are still a nascent concept, recent news could support its growing adoption.
Promote the adoption of securities type tokens
David Oliver Sacks, the former Paypal executive, has just joined Protocol 0x , a protocol underlying digital token trading. The founders of 0x announced this week their collaboration with Harbor, a compliance service for tokens supported by Sacks.
In addition, the former director of Paypal will join the advisory board of 0x according to his tweet of September 6, reading as follows:
"I'm [excited] to join @ 0xProject's advisory board - one of the crypto industry's flagship projects - that helps build securities-style tokens. With the @craft_ventures digital wallet @harbor and @BitGo. "https://twitter.com/DavidSacks/status/1037898797865611265
The alliance with Harbor will contribute to the creation of an industry standard for financial-grade chips, which will facilitate the adoption of investors and software developers.
Josh Stein, the CEO of Harbor, said:
"0x and its expanding network create the opportunity to connect buyers and sellers around the world. "Sacks estimated some time ago that the first sector to adopt crypto-currencies would be real estate. The benefits of virtual currencies such as the level of security, speed of transactions and liquidity meet the demands of the ever-changing world."By addressing regulatory compliance issues related to private equity segmentation, Harbor allows issuers and investors to easily comply with the rules and regulations of different jurisdictions. "
Ruden Holdings and Blockchain
Ruden Holdings, a real estate company based in Japan, initially announced the use of smart contracts for the settlement of real estate ."As soon as the Ruden system confirms the delivery of cryptocurrency, we will execute the contract and convert the virtual currency into Japanese yen. In addition, a notarized sales and purchase contract is quickly shared with the buyer and the seller, "said Ruden Holdings."Over the next five years, we will move away from closed systems of securities that are highly regulated and difficult to access. "
"It will be a much more open system where the location of trade is less important. But for that, you need financial [...] type chips. "
What do you think of the former PayPal manager joining protocol 0x? Tell us in the comments section below.
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