Experts from the United States and European countries gathered in Vilnius this week to discuss practical scenarios for the use of tokenized securities. The consultation was organized by the Vilnius Blockchain Center.
According to one of the participants of the seminar, the head of the Pillar Project David Siegel, the main purpose of the meeting is to jointly develop standards for the market of tokenized shares:
"We need a worldwide standard for equity tokens. Right now there are more than a dozen companies preparing to launch equity tokens, and they are all using a separate standard. That won't work. We won't have trading across exchanges. It won't give us liquidity. So we're working on creating a single standard everyone can use. Sort of an ERC20 standard for equity tokens. We hope it will first influence private markets, and then we can work on standards and new legislation for public markets."
Jonas Udris, a representative of the Lithuanian Registration Center, stressed that the legal settlement of tokenized shares in different countries doesn't reflect the opportunities offered by modern technologies.
As the seminar participants rightly pointed out, modern technologies allow creating digital analogs of stocks, however, there is a lack of adequate legislation, which can appear only due to a clear understanding of what these technologies are capable.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.