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Blockchain News

Blockchain Firm TokenSoft Introduces Wallet for Digital Assets and Securities

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Press release dated January 29 state that TokenSoft, a San Francisco based blockchain firm has come out with a beta version of its wallet for digital securities. This is called the Knox Wallet and is developed to essentially provide a platform for cold storage and self-custody in order to manage multiple assets including cryptocurrencies like BTC (Bitcoin) and ETH (Ethereum) along with tokenised assets such as real estate, debt and equity. At present, the wallet is undergoing testing, and the launch is set for the first quarter of 2019.

Mason Borda, the CEO of TokenSoft states that ‘ the secure storage of digital assets is of critical importance given that hackers stole almost $1 billion of cryptocurrency in the first three quarters of 2018 alone.’ According to a report by Carbon Black (cybersecurity company), approximately $1.1 billion worth of digital currency has been stolen in the first half of 2018. The firm noted that cybercriminals take advantage of the dark web in order to steal cryptocurrency on a large scale. Acoodiring to estimations, there are 12000 marketplaces and 34,000 offerings linked to the theft of crypto and hackers take advantage of that.

In the month of December, TokenSoft put money on a dealer who is compliant with the Security and Exchange Commission, United States. Reports suggest that this investment allowed TokenSoft to offer issuer to anchor a token sale individually or work with a dealer in order to go ahead with the sale on their behalf. In the previous week, tZERO (e-commerce giant Overstock.com’s subsidiary) launched secondary trading of tZERO (security tokens) through the securities brokerage account, Dinosaur Financial Group.

In mid-January, Bitcoin billionaires, the Winklevoss brothers and the founder of Gemini cryptocurrency exchange anticipated that stablecoins, as well as tokenised securities, will contribute heavily in the evolution of digital currency.

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