A part of shares will be bought by a financial institution EGW capital which will tokenize the shares in Digibyte blockchain. These shares then be freely tradable.
You will not need a demat account and KYC, as EGW will handle that. NRI and foreign investors can easily buy LIC share using tokenized share. 1 token will be equal to 1 share.
How much equity EGW capital buying
EGW capital may bid for US $25 million (Rs 190 crore) worth of LIC’s equity shares.
What assets EGW capital want to tokenize
EGW capital is in process of tokenizing real state, bonds and stocks.
Digibyte
Digibyte has surged more than 7 times since crash in March.
Founder of Digibyte had a heated exchange with binance and it’s CEO as they didn’t listed there token in Binance and Poloniex delisted there token.
1/8 It’s time to set the binance record straight and let the world know the truth. The binance – DGB story starts with us refusing to pay the “listing fee” last summer/fall. And continuing to refuse to ever pay it for the last 12 months.
He accused them of centralization and wrong practices related to listing fees. Even after desertion by top Centralised exchange the project is sustained and has made great progress in recent times.
1/8 Im disgusted by all these #TRON trolls/bots attacking me & hyping a 100% premined & completely centralized network like its the most decentralized gift from god. Now #Poloniex has turned into a $TRX shill factory after making off w/ US customers sensitive data. Fact time:
If LIC tokenization succeed, in future all IPO may directly be conducted on Blockchain and instead of demat account investor may need only a crypto wallet. But regulatory hurdles must be passed to ensure this. May be after world heals from Corona pandemic rapid switch to Blockchain based financial products may happen.
Opening Demat accounts and choosing brokers is cumbersome process , solution using Blockchain can make the process fast and simple.
Tokenized security may grow rapidly by next 3-4 years once technology matures.
What you think about future of IPO on Blockchain, wrote in comments.
Spread the loveIntro Blockstack says it’s an open-source and developer-friendly network for building decentralized apps and smart contracts. Blockstack Proof of transfer is a new…
Spread the loveIntro Uniswap is going ballistic with more and more trading volume everyday. It looks like time for dexes( Decentralised exchanges) has arrived. Users…
Spread the loveIntro Biggest hack of all time of social media rocked the Twitter yesterday when all prominent celebrities and brands with blue tick account…
Spread the loveGovernment of India is gearing up for largest IPO ever for LIC(Life insurance corporation) to divest it’s stake. LIC manages more than 450…
Spread the loveToday on Jun-10-2020 09:47:04 AM +UTC somebody paid whopping 10,668.73185 ETH as transaction fee to transfer just 0.55ETH. Its approx near about 20…
Spread the loveIntro An Indian trader using coindcx lost 3BTC due to security vunerability in there system.They initially brushed off the user and even blocked…
Spread the loveIntro Velas is a blockchain project which uses AI to enhance it’s functionality. Many blockchain projects are trying to integrate AI(Artificial Intelligence) with…
Spread the loveIntro Ready layer one virtual crypto and blockchain conference will kickoff from today with many big crypto heavyweights participating. Such as founder of…
Spread the loveIntro Decentralised exchanges are slowly gaining traction and increase in volume due to improvement in user interface and increase in speed. With upcoming…
Spread the loveIntro Gitcoin finished experimental CLR matching round 5 recently. There were 3 different sections Tech , Media and Health. Here we are reviewing…
Spread the loveIntroduction It’s very important for investors, traders, developers, blockchain enthusiasts to be updated about latest crypto news. So let’s find out which are…
Spread the loveIntro Let’s have a look at major Indian crypto startups making waves in crypto sector. With lifting of banking ban Indian crypto sector…
Spread the loveSteem Community Fighting Steem community is fighting on full mode against Justin Sun the promoter of cryptocurrency Tron. Justin Sun is trying to…
Spread the loveSteemit the latest victim of centralisation Tron network bought Steemit Inc. and tried to take control of Steem blockchain by hostile takeover from…
Spread the loveIntro Global Inequality is increasing from last few decades in unprecedent terms. Though a lot of countries has decreased the percentage of poor…
