Netherlands based firm Dusk Network has partnered with iFinex, the owner and operator of the Bitfinex and Ethfinex exchanges. The firm is all set to help a Maltese real estate company called BWRE to launch its STO on the platform. BWRE, which specializes in renovating and marketing short-stay lets, hopes to raise approximately $24m.

DUSK aims to become the Ethereum for STOs and is a privacy protocol that uses zero knowledge cryptography to remove the middlemen from regulated markets, without losing regulatory compliance. The BWRE STO will begin sometime after the Dusk Network mainnet goes live in Q2 2019.

By removing the middlemen DUSK is bringing down the cost of raising capital through a Security Token Offering to almost zero, unlocking a previously unattainable route for the small and medium sized enterprise. Projects will be able to host their own STOs independently on the Dusk protocol

Also Read: Overstock’s Subsidiary Completes $3.6 MM Investment Using Security Tokens

Problems DUSK aims to Solve

Using zero knowledge cryptography DUSK brings compliance on-chain whilst giving businesses what they need. The major problems that the firm aims to solve are –

  • Current STO ‘solutions’ ignore privacy and build on an open ledger
  • These propositions are centralized and resort to off-chain middlemen
  • This makes them unscalable, and impairs secondary market adoption
  • They charge a lot, and offer very little

Dusk’s business lead, Jelle Pol reported to cryptobriefing “Dusk is a protocol play we have chosen to help the first few propositions to market through our digital asset hub. We are extremely keen to showcase what Dusk Network can do as a layer 0, and really see working together with parties like BWRE as a great kickstart to our ecosystem.

“We cannot wait to see more platforms use Dusk as an underlying protocol”

To know more about DUSK Network, Visit: Dusk Website

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