BlackStar Enterprise Group Inc (BEGI)

[Bubae]

First, the use of the word technology with Blackstar's product lacks context. They have developed a method to record trading transactions using Amazons Amazon Web Services (“AWS”) product. There is no difference in how trades are processed by the "...broker-dealer who is also an ATS...". The role of the blockchain ledger is to securely record the transactions. The need to partner with a broker / dealer ATS is the issue. This is apparently an obstacle for anyone who may be interested in using it. None of this even matters since the trading platform hasn't been approved to operate. This has been the case for years but it won't get mentioned in the infomercials. It is all about what they are going to do, not what they are able to do.


For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm
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BlackStar Digital Trading Platform TM (“BDTP TM”): a digital Electronic Fungible Shares trading platform enabling the trading of BlackStar common shares in electronic fungible form. (The BDTP TM has not been approved by any regulatory agency or broker dealer and is not currently operational.)

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Overview of the BDTP™ Platform

BlackStar intends the BDTP™ to be a tool for trading securities within the existing FINRA and SEC regulated brokerage ecosystem, addressing many of the regulatory issues by operating within the existing confines of the system. For example, customers will continue to use brokerage accounts and broker-dealers and the transfer agent will continue to maintain the shareholder records...


SEC Correspondence vetting the S-1 prospectus February 2023
https://www.sec.gov/Archives/edgar/data/1483646/000106594923000009/filename1.htm

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The process for trades from book-entry form is explained in bullet point 1. The blockchain trading platform uses the same protocols as many registered Alternative Trading Systems (ATS). BlackStar has built the technology based upon the Quantum Ledger Database, a blockchain framework from Amazon Web Services (“AWS”), and to use the AWS Cloud for transaction data storage.

The shareholder does not use a wallet with BDTPTM but will use a traditional customer account at a registered broker-dealer. The broker will invite their customers to trade on the private blockchain through the user interface of BDTPTM. The customer-facing interface would allow the broker-dealer client to initiate a trade. The BDTPTM will partner with a broker-dealer who is also an ATS or an exchange, or will simply partner with an ATS, in order to host the quotes and operate the market. The Host of BDTPTM then records the transactions to the blockchain, creating an immediate and permanent transaction log.