OTCPK:BEGI - Post by User
Post by
Stockhousemoneyon Nov 26, 2023 3:30pm
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Post# 35753558
More info from investorshub
More info from investorshubsegment of the April 27th PR. This will help many inderstand BlackStar and its Blockchain prupose:
BlackStar's business plan is to develop the BlackStar Digital Trading PlatformTM, a peer-to-peer digital trading platform of electronic fungible shares based on the blockchain. The platform is intended to be licensed to public companies whose stock is traded over-the-counter. Companies that license the platform would have a customizable interface that allows them to trade their securities and might eventually be used to facilitate public and private offerings. All transactions, customer data and corporate governance information would be recorded immutably on an Amazon Web Services-based blockchain. The Securities and Exchange Commission and the Financial Industry Regulatory Authority would have full access to all the information stored in the blockchain. BlackStar hopes that this increased transparency will mitigate many of the risks of investing in OTC Markets listed stocks and restore investor confidence in trading shares of OTC companies.
Mr. Kurczodyna states that we have designed the trading system to be compliant initially with the FINRA regulations and crypto initiatives of the SEC and the back-office operations of Broker Dealers. BlackStar intends to present to the SEC Trading and Market Regulation division a detailed demonstration of how the system works within the Broker Dealer ecosystem. BlackStar's blockchain based technology trading system is designed with three components: Trading, Funding, and Corporate Governance. If allowed under SEC regulations, the funding of private and public companies on a blockchain platform may represent a fairer distribution of securities with a permanent record of solicitation. The Corporate Governance block will record all activity of the public company every three months, creating a permanent record from inception. The permanent record-keeping of a blockchain based system, we believe lowers the cost, time and risk to the securities attorney and auditor when preparing an offering document. Mr. Kurczodyna states that there are now too few Broker Dealers that can effectively underwrite public and private offerings for small and microcap companies. Our blockchain based system may give companies a tool to self-underwrite under the current rules if approved by the SEC and FINRA
BULLISH