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Standards for STO? #81

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rabbittiger opened this Issue Dec 11, 2018 · 5 comments

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@rabbittiger
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rabbittiger commented Dec 11, 2018

I propose we start discussions on security token standards for different jurisdictions to provide basic supports for the issuance and governance of securities on NEO. These standards should be embedded with regulations and take life cycle management of security into consideration.

@ixje

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ixje commented Dec 11, 2018

@rabbittiger

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rabbittiger commented Dec 11, 2018

See here: https://neo-project.github.io/global-blockchain-compliance-hub/

Thanks. I've checked the compliance hub before which is really helpful. But there're 2 improvements we can make (1)compliance hub should have a dedicated STO folder for updating ; (2) only compliance hub is not enough, we need specific discussions which involve developers, lawyers and financial advisers to come out concrete solutions/ standards.

@johnsonzhaoblk

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johnsonzhaoblk commented Dec 11, 2018

Suggest that we start one new discussion - such as, NEP 12, a combination of fungible token NEP5 and Non-fungible Token NEP11. In the financial market, a tranche of asset, could be a mixture of cash, bonds and maybe deriatives. Cash is like NEP5; Bonds and Deriatives are like NFT because each bond/deriative product can be different by nature. Jurisdiction and regulations will be considered of course, but those are just parameters to be modified in a certain smart contract implementation, for example, investor nationality, lockup period, investment amount limit and etc.

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ixje commented Dec 11, 2018

I see your point. I think we need to split the discussion then

(1)compliance hub should have a dedicated STO folder for updating

seems to fit best at https://github.com/neo-project/global-blockchain-compliance-hub , no?

(2) only compliance hub is not enough, we need specific discussions which involve developers, lawyers and financial advisers to come out concrete solutions/ standards.

Seems to fit with what @johnsonzhaoblk points out and that might fit here. I'm not sure if NEO should be the one regulating a standard for this because it can quickly explode in size. It feels more like something a smart contract author has to solve for its project. To be fair, how many lawyers or financial advisors can we expect to participate on Github (a place for programmers to store source code).

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johnsonzhaoblk commented Dec 11, 2018

@ixje source code seems to me represent real-world rules and process partially. There are people in this field waiting to bring their domain specific knowledge to NEP about security tokens, that's why we are suggesting this. NEO should not be the one regulating a standard, it should be a community consensus by developers, lawyers and financial advisors.

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