What are we building? & WHY?
Today at String, weâd like to discuss exactly what we are building. While in the universe of crypto there are a lot of spaces to penetrate the market, we want to identify clearly how String will be used and what market space we are in.
First we have to identify what String is capable of. String is the first of its kind end-to-end encrypted blockchain. String facilitates protocols for creating private accounts, private transactions, private NFTs, while maintaining a public chain and node sovereignty. String is capable of providing 1:1 account-based decentralized regulatory access through its encryption technology and architecture. In this way, we can facilitate the needs for privacy and regulation in decentralized finance and traditional finance.
So with this type of network it begs the questions: what do we provide first the chicken or the egg? Well they usually come together. I think nature shows this.
String is to be the baseline protocol for issuing Security Token Offerings. Think about this as the equivalent of the ERC-20 on the Ethereum platform. We call this baseline protocol STO-25.
For us, it represents the significant first shift of bringing blockchain technology directly to traditional finance (TRADFI). What makes us very unique is we take concepts from decentralized finance and implement them directly within the interaction of our securities exchange. This means the people trading a security token represent and get the rewards for the trading liquidity, not Morgan Stanley, Fidelity, or Robinhood.
So in this last portion of this post, why are we doing this?
Crypto began as an experimental operating system, that built these advanced mechanisms of p2p interaction. Letâs step out of the experiment. We see the gaps in governance, scam coins, the false promises of addressing wealth distribution, political use, wash trading, front-running, lending on lending on lending. And we have been watching for a long time.
Just like the old corporate bus, we started throwing rocks at the crypto bus too. That is what we do. And finally we decided to stop doing that and build something better. So we decided âyea itâs Stringâ. Stay tuned for our upcoming white paper.
Letâs take the âchainsâ off blockchain together. Letâs bring people privacy and decentralization, including a much better way to handle securities.
Side note:
We will clearly define âdecentralized regulatory accessâ in later posts but think of it this way. If someone is trading on Ethereum not only do regulators have access to what we do, so do bad actors. Just this last month $281 million USD a month of losses were generated from front-running exchanges. This is not good for individuals or enterprises. We provide âuser permissionedâ decentralized access to necessary regulators across industry. Thus fitting both individual, enterprise, supply chain, and healthcare use cases.
Get into something real, different, and unique with String.