Business
BlackStar's Blockchain Equity Trading Proprietary Software May Be Innovative Solution for Regulators, U.S. Broker Dealers and Investors
BlackStar's Blockchain Equity Trading Proprietary Software May Be Innovative Solution for Regulators, U.S. Broker Dealers and Investors.
About this update from Blackstar Enterprise Group, Inc.
[{"type":"text","content":"BOULDER, CO / ACCESSWIRE / July 21, 2021 / BlackStar Enterprise Group, Inc. (OTCQB:BEGI) (the "Company" or "BlackStar") has finalized a production-ready user interface for the proprietary software of the BlackStar Digital Trading Platform ("BDTP"). The design and build of the digital platform features is complete and in the final phase of quality assurance. For the last phase of the project, BlackStar is actively pursuing strategic relationships with various broker dealers and clearing firms to quote the stock and enable the platform to begin trading of registered BEGI shares, completing the final stages of our multi-year software engineering effort.The Company is positioning itself to enable digital trading of registered BEGI common shares using Amazon's Web Services Quantum Ledger Database Blockchain. The BDTP has been designed to trade registered shares of BEGI and we intend to use the platform as proof-of-concept in the short-term. This will provide benefits to include real-time transparency.We will also provide consulting to other OTC companies looking for a new method to help create a similar market solution. The platform will be adapted and customized to meet the needs of the registered issuer. A yearly subscription fee will be charged for the design and monitoring of the digital platform technology and execution; the issuer would decide who would quote and host their particular platform. BlackStar intends to integrate BDPT with the existing FINRA and SEC regulated brokerage ecosystem in order to trade BlackStar digital shares, addressing many of the regulatory issues by operating within the existing confines of the system.BlackStar will incorporate blockchain technology to help establish a digital spot market.A spot market is where financial instruments, such as commodities, currencies, and securities, are traded for immediate delivery - the exchange of cash for the financial instrument. Our platform will help establish a digital spot market for equities. A benefit to the spot market is that it is designed to be decentralized, shielding it from malicious short selling that is present in other parallel markets. The broker dealer service industry could experience growth by taking the lid off trading and funding. "The allure of what the investment banking industry could do in the future is...