Report: Switzerland Approves First Articles of Incorporation on Blockchain as Overfuture Plans IPO

Switzerland has approved the first articles of incorporation hosted on blockchain, according to a note from advisory firm Andriotto Financial Services. Overfuture expects to have is class A shares hosted on blockchain as well as it moves forward with an initial public offering (IPO), or security token offering, as well as secondary trading of the digital asset.

Andriotto explains the main difference with other security offerings on the blockchain is that the company’s articles of incorporation directly state the digital nature of the shares (tokens) and the use of the blockchain as the technology to keep the shareholders registry; meaning that the transfer of the company ownership can be achieved only with a transfer of the tokens on the blockchain and only the ownership of the token can give the status of shareholder.

The company is using the Ethereum Blockchain and the smart contracts provided by EURO DAXX – the European Digital Assets Exchange based in Zug, Switzerland.

Overfuture has also posted a prospectus in Switzerland and the Overfutures shares can be seen on the blockchain here:

Andriotto states that by leveraging blockchain technology the firm lowers costs, time and facilitates the direct sale of the security token to investors.

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