Smart Company Contracts and Legal DAOs as Tradable Assets.
AbacasXchange & Korporatio – Smart Company Contracts and Legal DAOs as Tradable Assets.
…executive team is pleased to announce our partnership and pilot project with Korporatio, the first company to manufacture the “Smart Company”, a legal DAO recognised by government. A Smart Company (SC) allows business-owners to have fully legal blockchain-based entities with traditional features such as share transfers and voting. Through our partnership with Korporatio, Abacas’ pool of compliantly tradeable assets continues to grow. The AbacasXchange is a fully-regulated tokenized asset exchange that allows the compliant and cryptographic transfer of assets from virtually any asset class. These assets are managed under a strict proof of asset protocol and include equities like AAPL or BT, cryptocurrencies such as BTC or ETH, tangible assets such as art or precious metals. Now with this partnership, we add Smart Company Shares to the asset mix.
Mark VanRoon, Head of Product Development & Founder of the AbacasXchange:
“Abacas sees great potential in utilizing the security of the AbacasXchange operating model in tandem with the universality of Korporatio’s Legal DAO framework. The opportunity to work with Korporatio opens the world to a whole new source of security products that can be traded safely and with confidence in the AbacasXchange. Abacas looks forward to a successful collaboration, while improving liquidity in previously illiquid assets en route to a compliantly-traded product offering facilitated by the Abacas and Korporatio teams.”
…has extended the model of incorporation by developing the “Smart Company”. A Smart Company is an International Business Company (IBC), fully incorporated and managed on the blockchain. This helps to increase corporate transparency and speed governance by 98%, thus reducing ongoing costs by an astounding 99.8% in comparison to the traditional incorporation model. Korporatio has an established client base and has been providing commercial incorporation services for since its inception.
Stefano Covolan, CEO and founder of Korporatio:
“As Korporatio enables a new wave of entrepreneurs to manage their companies and corporate affairs from anywhere in the world, it is logical to complete the circle by enabling the trading of those company’s shares. The collaboration between Korporatio and AbacasXchange opens the door to a model that has never been previously achieved. It is now possible for any entrepreneur to set up an entity and enter the startup world in the easiest possible way, or an investor to invest in real businesses and gain opportunities previously available only to the select few.”