Equibit Development Corporation (EDC), the creator of the Equibit blockchain and blockchain applications for the global securities industry, has unveiled a two-year roadmap for extended value creation in the wake of its ongoing initial coin offering.
EDC’s map includes the release of Equibit’s source code to software developers, the launch of a pro version of the EDC wallet application for the asset management community, specialized Equibit mining hardware, and the securitization of financial assets on the Equibit system, said Chris Horlacher, EDC’s CEO.
Mr. Horlacher commented:
“Securitization will populate Equibit with a number of popular investment choices that will excite our investors and get other issuers interested in using Equibit,” Horlacher said. This is a perfect way to kickstart the system. Though there are more and more coin offerings by the day, there’s actually very little opportunity for diversification available to crypto investors.”
Securitization on the Equibit platform will allow holders of equibits, a new digital asset, to diversify their portfolio by investing in equities in traditional industries such as pharmaceuticals, utilities or materials.
Equibit is a peer-to-peer securities registration, market-making, and compliance platform anchored in blockchain technology. The system allows investors to hold directly-registered securities and communicate privately with one another. Equibit also features a public order book, direct-and-group communications, polls, proxies and a compliance system.
EDC has sold more than 140,000 equibits since launching its initial coin offering sale on Feb. 1, which are required for issuers and investors to make use of the platform. The company has offered to sell one million equibits out of a total of 22 million equibits potentially available. The sale, which will run for 59 days to March 31, is being held on EDC’s website.
Purchased equibits will be delivered to user accounts at EDC’s web-wallet service. EDC will retain any unsold equibits, as according to the sale’s terms and conditions.
The offering started with an initial batch of 100,000 equibits priced at $2 per coin. The crowdsale will adhere to a predetermined schedule, with the price for equibits to increase with each subsequent batch.
All equibits sold in the coin offering will be created in the EDC platform’s genesis block, constituting the inception of the system’s operation.
Proceeds from the crowdsale will be used to expand EDC’s team of developers, accelerate product development, support and expand the network of equibit supporters, install enterprise infrastructure such as supernodes and market Equibit blockchain applications.