BlockState Aims to Deliver a Blockchain Legal Infrastructure for Institutional Investors
BlockState Aims to Deliver a Blockchain-Based Legal Infrastructure for Institutions
In general, mainstream media has been very negative towards institutional investments on cryptocurrencies. However, in an interview with Hacked.com, BlockState provided information about what they are doing to increase financial institution’s interest and return rates offered by traditional asset classes.
The first thing to mention is that BlockState is working in order to deliver a modular blockchain-based technological infrastructure for financial institutions. In this way, it would be possible to increase the interest these companies have towards traditional asset classes and provide better returns to them as well.
Paul Claudius, Michael Weber and Samuel Brack are the three co-founders of BlockState. On their website, they explain that the main intention is to bridge the gap between blockchain technology and the financial markets.
Managing Director Paul Claudius explained that they are creating the basis for institutional investors to have access to the digital assets market. It is not easy for banks to start investing in virtual currencies or other assets.
“Investment banks can’t simply open a wallet on their phone and start buying crypto-assets,” he mentioned. “They need a range of services and processes in place to make sure that they abide by regulation and their internal requirements.”
And indeed, there is no good infrastructure in the market to allow companies enter the virtual currency space.
Moreover, the blockchain and cryptocurrency market does not offer product and service integration to institutions. This is why BlockState wants to help companies improve their existing processes, tokenize financial products and use smart contracts. This would help companies save massive amounts of resources and make everything more transparent and efficient.
Paul Claudius is a specialist in Strategy and Business Development. Michael Weber is in charge of Product Development and Project Management duties. Samuel Brack is the Chief Technology Officer (CTO).
Mr. Claudius says that he has interacted with cryptocurrencies for the first time in 2012 when one of his friends recommended him to invest in Bitcoin. Back at that time, Bitcoin was worth around $13 dollars. After 6 years, the returns are massive.
BlockState and is co-founders are ready to grow this company and provide institutions with unique solutions to their needs. However, the team will need expert advisors ready to provide insightful information about the market and the products and services BlockState aims to provide.
The list of advisors include Patrick Strochenegger, co-founder of the Ethereum Foundation in Zug; Andrea Voinea, who helped to structure the first Gold Exchange Traded Fund; Ludwig Schrittenloher, who worked during the last six years at Credit Suisse; finally Martin Schröder, Director in an investment firm and expert in derivatives.
The company explained that by the end of September the would be launching the CTF15 Exchange Traded Note (ETN) which would be listed on a major European Stock Exchange that will be announced in the near future.
According to Paul, BlockState will be one of the first companies to tokenize their equity complying with regulations and driving the adoption of security tokenization in the financial space.
Moreover, BlockState co-founders will be present at the Delta Summit in Malta starting on October 3 and finishing on October 5.