Canadian Startup Equibit Wants to Decentralize the Securities Industry

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Coinsquare | | Jan 13, 2018

Equibit Group is a Canadian blockchain company with plans to decentralize the securities industry.

Formed in 2015, their vision is to create the ultimate registration system for intangible assets, and move the securities industry onto the blockchain. The platform will allow anyone to transfer value without the need for an intermediary. They believe their system will be as valuable to a bank as it is to an individual investor.

Traditionally third parties like custodians are responsible for maintaining complex records for the ownership of securities. Co-founder and CEO Chris Horlacher saw that the blockchain could create a more trustless system which removed the need for third parties while increasing security.

Horlacher became intrigued with Bitcoin after first hearing of it in 2010. At the time a little-known technology while the world recovered from the financial crisis, he saw an opportunity. He saw that the core technology behind Bitcoin could be modified to serve the securities industry.

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ENTERPRISE SOLUTIONS

Equibit Group has three apps which allow users to interact with their blockchain in different ways.

EquibitCore allows users to participate in network consensus by running a full node. EquibitCore will soon be pre-released to a select group of miners, who will create the necessary hash power needed to maintain the network. Once completed, the team plans to launch EquibitCore to the public.

They have also developed Equibit Portfolio,  a web-based wallet where users can store their Equibits. Investors can also store securities purchased through the Equibit network in the wallet.

What’s unique about Equibit, though, is that investors can buy and sell securities on the network without the need for a transfer agent.

Equibit Supernode is an app that aims at enterprise solutions. Companies can use Supernodes in many flexible ways, such as creating their own securities-related infrastructures for situations like raising capital or safely managing the assets of clients.

EQUIBIT AND BITCOIN

Equibit is based on the Bitcoin protocol. The company paid homage to this fact when they embedded a news article into the genesis block, which they recently mined. The news article could be viewed by the miners who were pre-selected to run full nodes.

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The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: ncfacanada.org

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