Please explain how this blockchain platform idea helps to make trading stock easier. Is there something wrong with how OTC stocks are traded currently? Why would an existing broker want to license what appears to be an unnecessary activity? Has anyone here ever thought there was some security risk related to the ownership of their shares? The proposal is for the OTC market. Read excerpts below for the added nonsense for which I see no purpose. It really is no wonder why they can't find capital at a reasonable rate.
…BEGI is actually trying to make stock trading better…
ANSWER (part two, beneath each bullet pointed comment):
· Please explain the lifecycle of transactions effected on the platform, beginning with how a shareholder submits their common shares for trading on the platform (i.e., exchanges their common shares for the electronic fungible shares) to how the shareholder withdraws their shares from the platform (i.e., exchanges their electronic fungible shares for common shares).
The shareholder does not exchange their common shares for electronic fungible shares. If they hold book-entry shares of common stock, these are already electronic fungible shares that may be sent to the blockchain (BDTPTM) to be traded in the normal course on a partnering ATS platform. If they hold certificated shares, then they would deposit their certificates for common shares with their broker-dealer, who would then send the certificated shares to DTCC or the issuer’s transfer agent and receive book-entry shares via the DWAC service. The book-entry shares held by the brokerage firm in the name of the shareholder are electronic fungible shares.
The shareholder can then elect to send the book-entry shares held in its brokerage account to the blockchain (BDTPTM once it becomes operational), or to OTC Market Makers or Exchanges to execute trades. The general process is broken down below....
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