Tesla Stock on a Blockchain allows investors to trade in USA stock market shares - page 2.

hatshepsut93

legendary

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Merit: 2148

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Even though U.S. regulators oversee trading of DX’s initial roster of stocks, Chief Executive Officer Daniel Skowronski said he doesn’t need permission from the Americans to offer this service because DX doesn’t operate there.

I doubt that the SEC is happy about it, and they will sooner or later find a way to shut it down, even though it's outside of the US and supposedly decentralized. And overall it resembles stablecoins - you can't put some item on blockchain without having a trusted third party, so this blockchain exchange will probably suffer from the similar problems that surround stablecoins.

Also, how investors are going to receive their dividends?

dothebeats

legendary

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Cashback 15%

This will just cause another round of pumping for stocks that are using the said platform IMO, and might lead to a harder crash should the market feels that it's just a way for these companies to pump their assets hard. Traditional stock markets are branching out, and saw a potential in blockchain platforms and are now using the said hype to further their realm and reach which IMO is bad for cryptocurrencies in general. These guys are NOT supporting the existing cryptocurrencies but will create their own for their private purposes.

bitmover

legendary

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bitcoindata.science

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Tesla Stock on a Blockchain Offers Hint of Where Crypto's Headed

A digital exchange opening next week will enable investors to trade in companies including Apple Inc., Facebook Inc. and Tesla Inc. outside of the U.S. even when the stock markets are closed.

DX.Exchange, which has offices in Estonia and Israel, will offer digital tokens based on share of 10 Nasdaq-listed companies with plans to expand to the New York Stock Exchange as well as in Tokyo and Hong Kong. Each digital security is backed by one regular share and holders will be entitled to the same cash dividends, even though the companies themselves aren’t involved.

The exchange’s virtual stock offering will provide a test of investor appetite for products that seek to improve upon mainstream financial markets by using technology from the world of cryptocurrencies. DX will offer digital stocks, or tokens, based on actual shares bought and held by partner MPS MarketPlace Securities Ltd. The tokens will be based on the Ethereum network, with the amount corresponding to demand on the DX exchange.

https://www.bloomberg.com/news/articles/2019-01-03/tesla-stock-on-a-blockchain-offers-hint-of-where-crypto-s-headed

Soon it will be possible to buy stock with crypto. A crypto supposedly backed up by real shares of real companies.

To me, this will be completely chaotic. But it may be the future. Stock market will never close again. People will be negotiating and trading in the evening. No need to wait for NASDAQ or NYSE open again.

On the other hand, Tether is already mess, nobody knows if they are really backed up by USD. Will this crypto be really backed up by shares? What ´s the solution for that? Intensive regulations?

I think this is a dangerous, but inevitable path for cryptocurrencies.

Topic: Tesla Stock on a Blockchain allows investors to trade in USA stock market shares - page 2. (Read 396 times)