Ziyen Inc., is an oil and energy firm which has announced to tokenize oil assets on Ethereum blockchain. The energy company is aiming to position itself as the market leader in the blockchain space in the oil sector.
ZiyenCoin is targeted to be the first dedicated oil & gas Security Token Offering (STO) to be regulated by the U.S. Securities and Exchange Commission (SEC), creating a fully traceable and instantaneous movement of cash. The initially offering will be filed under the Reg D Offering 506c. Ziyen is looking forward to utilize the ERC-20 token where each token sold of ‘ZiyenCoin’ will be enforced by a smart contract which will outline the securities obligations to holders. The minimum investment amount for Ziyen Inc. is set to be $600.
The revolution of the ZiyenCoin will have the ability to push down the price of oil production by removing volatilities and finance changes at every step of the way. The firm believes that STOs have the potential to fully reinvent and redefine today’s system, as well as capture anywhere from 3-5% cost savings in transaction costs alone.
For more details about Ziyen security token offering, read ‘Offering Circular‘
Previously in earlier May 2019, TokenOro announced to launch a unique Security Token which will be backed by Gold ownership and production.
CEO Alastair Caithness stated “This is historic, monumental and revolutionary. I could not be more proud of our team. We are now in a position to complete the tokenizing of a commodity on the Ethereum Blockchain; ZiyenCoin will likely become a market leader in the space. The goal of the company is always to enhance the energy industry. Satoshi Nakamoto invented Bitcoin, but also invented the blockchain and by creating this hybrid model utilizing the technology of the blockchain, it will nevertheless have positive, cost-saving ripple effects across a $5 trillion industry.”