Security Token Market Research From Rotterdam School of Management, Erasmus University

18 Sep 2020 — The recent scholastic paper from Rotterdam School of Management, Erasmus University (Dan LiebauThomas Lambert and Peter Roosenboom) discusses the two main set of findings that matter to the success of #SecurityToken Offering #STO.

1. Issuer and offering characteristics
– Voluntary information disclosed by issuers, such as source code available on a GitHub repository, is positively associated with the amount raised
– Telegram does not positively influenced the amount raised
– Setting high target amounts unlikely to reduce the chance of success.
– Use of a softcap and the duration of the STO, negatively correlate with amount raised

2. Corporate governance
– Unbundling voting rights and cashflow rights negatively correlates with amount raised

Native #DigitalSecurities (NDS), the next gen of securities are likely to come as digital natives on the blockchain, that is programmable securities.

Accordingly, NDS easily and cheaply enables:
– on-chain amendments and viewed by stakeholders, increasing in turn transparency
– both digital creation of investment products with any combination of corporate actions and securities product features
– the option of a protocol that is fork resistant when issuing, to manage related risks

Full paper:


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