Proof Suite, the Blockchain that’s putting real assets onto the Blockchain, announced today that it will open its token sale on November 1 at 10 p.m. Korea time (1 p.m. GMT). This follows a highly successful pre-sale that kicked off in in August and raised approximately $1.7 million.
Proof Suite is the first Blockchain platform that allows anyone to tokenize and insure real world assets on the Blockchain, providing the technology necessary to democratize finance.
“By tokenizing assets and selling them fractionally on the Blockchain, we free up their value to be used productively and give people more control over their assets,” said Mike De’Shazer, Proof Suite’s CEO. “Essentially, we’re using the trustless nature of the Blockchain to hand over the role of banks and regulators to the crowd. The results will be new opportunities, greater financial sovereignty, and greater financial efficiency.”
Your World on Blockchain
The Proof Dashboard allows anyone, anywhere, to tokenize their own assets in just a few minutes and sell fractions of them on the Blockchain. More than 2000 assets have been tokenized on the Proof Dashboard and approximately 200 of them are being traded on third-party decentralized exchanges. The Proof platform offers tools, like the Legal Agreement Generator, to make the process smoother, more dependable and trustworthy.
The Assurance Market Protocol (AMP) will take the features of the Proof Dashboard and decentralize them, making them resistant to censorship attempts. In addition to allowing people to tokenize assets, AMP will include a prediction marketplace to insure and asses the risk of tokenized assets.
“The prediction marketplace is exciting because it creates a self regulatory environment for investors’ protection. People with expertise in a particular asset are incentivized to stake for it or against it, based on the potential for financial rewards. It’s the first truly honest system for risk assessment.”
AMP also includes a decentralized exchange. In addition to exchanging cryptocurrencies like Ether and Bitcoin, this exchange also lets people trade and store Proof’s Crypto Fiat, which pegs Ether to USD or Euro in an Ether reserve wallet. This is the first pure Blockchain solution for fiat pegged Ether.
“Proof’s Crypto Fiat has several advantages over other implementations. Instead of relying on reserves of actual fiat currencies, we’re building an Ether reserve pool to guard against rapid shifts in value. There’s no need to worry about an underlying fiat account being mishandled, seized or becoming inaccessible,” De’Shazer said.
True Financial Sovereignty
Before creating Proof Suite, the team founded the Think Consortium on Blockchain and wrote a 2017 outlook on Blockchain impact on enterprises and governments for IBM. Through this project they saw that jurisdictions around the world (Dubai, Singapore and the US state of Delaware to name a few) were seeking to implement Blockchain-based governments. Based on this momentum, they decide to develop and provide the tools needed to tokenize assets around the world.
“At Proof we’re leading a movement that will democratize and decentralize finance. Ultimately we’ll make it possible for everyone, everywhere, to achieve true financial sovereignty, giving them power over their lives and a stake in their communities”, De’Shazer said.
On November 1 at 10:00 p.m. Korea time, (1:00 p.m. GMT), Proof will open its token sale to the public, allowing anyone to purchase Proof Tokens. During the token sale, 1,181,031 tokens, 50 per cent of the total supply will be available at a set price of 0.088 Ether per token. Ethereum is the only currency that will be accepted during the token sale. The Proof team have already secured agreements for the Proof token to be traded on EtherDelta and Kyber.
More information about Proof Suite and Proof Token, including a detailed white paper explaining the underlying technologies and the potential uses, is available at https://www.proofsuite.com.