… For the pur­po­se of this blue­print, the toke­niz­a­ti­on pro­cess does not invol­ve the issu­an­ce of shares in the form of tokens, in the sen­se that the shares and the tokens would be one and the same instru­ment. As a mat­ter of Swiss cor­po­ra­te law, the issu­an­ce of shares invol­ves various steps – in par­ti­cu­lar a regis­tra­ti­on in the com­mer­cial regis­ter – that are dif­fe­rent from tho­se invol­ved in the issu­an­ce of tokens. Rather, this blue­print descri­bes the pro­cess through which shares that have alrea­dy been issued pur­suant to Swiss cor­po­ra­ti­on law can be “wrap­ped” into digi­tal tokens, so that the tokens and the under­ly­ing shares are tied to each other in a man­ner that pre­vents the shares from being trans­fer­red without the cor­re­spon­ding tokens and vice-versa.

This blue­print addres­ses the toke­niz­a­ti­on of shares. It does not address the man­ner in which tran­sac­tions invol­ving toke­ni­zed shares can be tied with other tran­sac­tions on a block­chain, e.g. the man­ner in which a trans­fer of toke­ni­zed shares can be tied to a pay­ment in cryp­to­cur­ren­ci­es for the­se shares.

The­re may be ways to toke­ni­ze the shares of a Swiss cor­po­ra­ti­on other than tho­se descri­bed in this blue­print. Also, the toke­niz­a­ti­on pro­cess out­lined her­ein can poten­ti­al­ly be app­lied to tokens crea­ted on various types of block­chains, eit­her public or pri­va­te. In this docu­ment, it is howe­ver assu­med that the tokens will be crea­ted using the public ver­si­on of the Ethe­re­um block­chain, as deploy­ed on the date of this blue­print, or ano­t­her block­chain that sup­ports smart contracts.

Quel­le /​ Link: Blue­print for the toke­niz­a­ti­on of shares of Swiss cor­po­ra­ti­ons using the dis­tri­bu­t­ed led­ger technology

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