Dusk Network intends to launch a platform for trading tokenized shares of small and medium-sized enterprises in the Netherlands, Belgium, and Luxembourg with the participation of Firm24 and LTO Network.
Dusk Network announced that the initiative would be implemented with the participation of Firm24, one of the largest notary firms in Amsterdam. Dusk Network uses the blockchain from LTO Network to create an automated infrastructure that will effectively trade shares that are not publicly available. The launch of the platform is scheduled for the second quarter of 2020.
Dusk Network Chief Executive Jelle Pol sees many advantages in “transferring” all stock related transactions and procedures to a distributed registry. For example, tokenization of shares will create a new secondary market for investors, and all information will be regularly updated and stored in one place. Also, it will become easier for companies to check who owns their shares.
On the other hand, the process may be complicated by the fact that notary offices each time will have to approve changes regarding their share in the capital. However, according to Firm24, working with more than 35,000 small and medium-sized enterprises from Belgium, the Netherlands, and Luxembourg, the blockchain will help track dividend payments and even the results of shareholder voting.
According to preliminary estimates by the Dusk Network, thanks to the blockchain, companies will be able to reduce costs associated with the preparation and distribution of documentation by 20-30%. Concerning the payment of dividends, the blockchain will help reduce costs by 90%. Dusk Network believes that small and medium-sized businesses especially need tokenization, as this will allow companies to attract funds from retail investors and institutions on a larger scale.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin rose to the resistance level of $ $8,970, them it fell to the support level of $8,500. Now, the price of bitcoin is $8,550. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $8,600, $8,860, $9,000, $9,320, $9,470, $9,730, $9,820, $9,900, $10,200. The nearest support levels are $8,500, $8,280.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum rose to the resistance level of $238, then it fell to the support level of $216. Now, the price of ethereum is $217. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $215, $219, $230, $236, $244, $257, $263, $273, $285. The nearest support levels are $213, $210, $206.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple rose to the resistance level of $0.2470, then it fell to the support level of $0.2220. Now, the price of ripple is $0.23. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $0.2350, $0.2380, $0.2420, $0.2460. The nearest support levels are $0.2260, $0.2240.