(This announcement is originally posted on Science Blockchain.)
Santa Monica, California, Dec. 10, 2018 — Science Blockchain today announced that it will work with Securitize, a software platform for issuing and managing digital securities, to upgrade its security tokens (SCI) for easier compliance with regulatory requirements, including secondary trading.
The current SCI tokens are now frozen, as previously announced, and SCI tokens will be moved from Tokenhub to Securitize. The security token upgrade process is now open to all Science Blockchain investors at https://science.securitize.io. All token holders who received their tokens via TokenHub as part of the original issuance of the SCI tokens will receive an email at the email address they previously provided, containing a link to access the SCI Token Upgrade Dashboard.
SCI token holders with other tokens (ie. AVT, MFT, WPR, NCT, INVITE, and DOG tokens) on Tokenhub will be given further updates during the transition process.
“As we continue to build our portfolio of blockchain and cryptocurrency businesses at Science Blockchain, we are fully focused on ensuring our token holders have access to robust compliance solutions,” said Greg Gilman, Co-Founder at Science Blockchain. “Integrating Securitize and the DS Protocol into our platform provides us with the utmost confidence that our tokens will continue to comply with securities regulations while making it easier for our token holders to comply in an automated fashion once the tokens potentially are listed on appropriately regulated Alternative Trading Systems.”
Science Blockchain works with and assists blockchain startups through incubation, investment, and token economy modeling.
“We are very excited to be working with Science to upgrade their security token,” added Carlos Domingo, CEO & Co-Founder of Securitize. “Their blockchain fund represents one of the first security tokens ever issued, and to have a pioneering fund like Science move to the Securitize platform is further validation of our leadership in the space and the growing adoption of our Digital Securities (DS) Protocol.”
Securitize facilitated what they believe to be the first token ever issued as a security when they supported VC fund Blockchain Capital’s upgrade of its tokens with the DS Protocol. This enhanced the compliance process with respect to securities regulations.
For more information on Science Blockchain, please visit: https://www.science-inc.com/blockchain.html
About Science Blockchain:
Science has been helping entrepreneurs build successful businesses for more than seven years, during which time it has funded or founded more than 85 companies, and has had $1.3B in aggregate portfolio company exits. Science Blockchain, the first incubator in the world to be funded by its own tokenized compliant securities offering (token: SCI), intends to continue this history of successful company building by helping incredible blockchain entrepreneurs create and scale the software giants of the next century. We do this in three primary ways: 1) incubating promising early-stage blockchain ventures, 2) engaging on a very limited and selective basis, with companies looking to take advantage of the possibilities presented by tokenized economies, and 3) investing in compliant private offerings of blockchain businesses. The unique token structure of SCI allows us to distribute 70% of the total tokens that Science Blockchain receives through our incubation and investment strategies directly to the SCI token holders. For more details, please visit https://www.science-inc.com/blockchain.html
Securitize is a compliance platform and protocol for issuing and managing digital securities on the blockchain, including dividends, distributions, and share buy-backs. Securitize’s innovative Digital Securities Protocol (DS Protocol) enables seamless, fully compliant trading across multiple markets simultaneously. Securitize actively partners with exchanges, broker-dealers, custodians of crypto, escrow services, and other financial infrastructure for digital securities. For more information, visit https://securitize.io.
Disclaimer: This press release does not constitute an offer to sell or the solicitation of an offer to purchase the Science ICO tokens, nor shall there be any offer, solicitation or sale of the Science ICO tokens in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Science ICO tokens have not and will not be registered under the Securities Act or other applicable state securities laws, and may not be offered or sold in the US absent registration or pursuant to an exemption from registration requirements of the Securities Act and under applicable state laws.
Science ICO tokens were offered on a limited basis to a maximum of 99 accredited US investors under exemptions from registration with the U.S. Securities and Exchange Commission pursuant to Regulation D, Section 506(c) and Regulation S of the Securities and Exchange Act of 1933, as amended (the “Securities Act”), and the rule promulgated thereunder.
Certain statements, projections or other estimates herein (including estimates of value, returns or performance) are forward-looking statements and are based upon certain assumptions. Other events that were not taken into account may occur and may significantly affect the analysis. Any assumptions should not be construed to be indicative of the actual events that will occur.