Comment from Blackstar to Tokenization post.
Blackstar's blockchain trading platform was disclosed to the SEC in a 2021 Registration Statement. In the filing of the new business section Blackstar presented a digital concept to trade its public common shares on a blockchain. The Commission spent 2 years reviewing, with over 90 comments directed to blockchain trading of common stock in book-entry within the Broker Dealer system.
The SEC gave Blackstar an Effective date in July of 2023 of its registration statement. Funny, the SEC never mentioned 'Blackstar's product is not allowed due to regulatory rules governing securities'. Maybe they missed that, or one might have deranged token syndrome.
Blackstar discovered tokenization is not needed to trade on a Centralized Private Blockchain with regulatory oversight, a format Blackstar feels is compliant with SEC rules.
Blackstar doesn't propose a new type of security, asset class or token. Blackstar developed a blockchain trading engine for the trading of its registered Blackstar shares through broker dealers. Shares in book-entry are digital and fungible to shares physically held at DTCC.
FINRA stated in May of 2023 that 'digital assets that are registered securities can trade over the internet through OTC Market Groups Link'.
Blackstar discovered that one can trade digital assets that are securities on a blockchain without tokenization. Blackstar disclosed, in its Registration Statement to the SEC, that B.D.T.P will trade on a Centralized Private ATS Blockchain through a Broker Dealer. Brokers can invite their current customers to trade on Block, but clearing and settlement remains the same through the existing back-office operations. Book-Entry shares are fungible with the underlining stock of registered public companies and already in digital form.
Blackstar's patents are the gate keeper of Blockchain Trading, Funding and Corporate Governance in the Securities Industry.
Wall Streeters have tried to trade private unregistered securities publicly and have failed for years. Special Purpose BDs, Special Purpose Transfer Agents, Clearing and Settlement have been approved by regulators to trade private securities through tokens on a Blockchain. Interest from private companies and the public hasn't developed. Institutions and Hedge Funds wanting to trade their private unregistered securities in hope of liquidity from the public have failed again, now through Tokenization.
Blackstar's platform proposes to trade Public Companies not unregistered private offerings.
Joseph E Kurczodyna, CEO
BlackstarEG.com
847-804-6873
AI
