A way for public US firms to save up to $1.44B annually.
From a hedge fund manager and a rocket scientist.
Introduction Video & PitchDeck
Go here for an introduction video about our project: https://youtu.be/Z8apvkhmhUo. Click here to see our PitchDeck: https://docs.google.com/presentation/d/1Qbu6LVY8tQjqiTe4kT1nZaDSoz00vCr098slCNvo6Qg/edit?usp=sharing
Centralized transfer agents create a gross waste of funds and oversight efforts in financial markets. They charge six- and seven-figure fees to effectively maintain an Excel spreadsheet. Many of the industry's best practices have century-old roots from the early 1900s. A disruption is imminent. Our startup proposes a decentralized transfer agent protocol that drastically decreases transfer-agent inefficiencies, opaqueness, and firm expenses for global financial markets.
What it does
Our protocol keeps track of asset ownership through decentralized Ethereum contracts and security-specific federated corporate tokens.
How we built it
We built our protocol with a Solidity smart contract. We also implemented safeguarding features in InterPlanteary File System. See the code at https://github.com/JFWooten4/HackATL-Decentralized-Stock-Transfer-Agency/blob/main/HackATL%20SOL%20TA0.js
Challenges we ran into
We had a tough time synchronizing transfer-agent trades until we implemented a semi-federated access and update method.
What we learned
We learned how to implement IPFS and Solidity at the same time in a smart contract.
What's next for Reimagining Stock Transfer Agents
Our next step is to apply for the necessary transfer-agent regulations outlined in our PitchDeck. Once we have regulatory approval, we can start servicing small public US firms to build up a track record as a decentralized stock transfer agency. Over time, we want to expand to S&P 500 components.
I read the presentation, but this sounds super confusing. What's going on here?
If you're new to transfer agents, please click here ==> https://www.investopedia.com/terms/t/transferagent.asp