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StockChain is a blockchain based digital registry solution for securities of unlisted companies.
FRAXchain is a blockchain based digital asset registry solution for fractional ownership in real estate.
Q: Are there any other similar platforms?
A: Listed companies are required to maintain their share holding in demat form at depositories. However, StockChain is the first registry solution for unlisted companies, especially with the kind of broader acceptance that StockChain enjoys. Also, StockChain is based on the blockchain technology which makes it one of the pioneers in the world.
Q: What exactly is StockChain?
A: StockChain is Blockchain based electronic Share Registry solution for Companies.
Q: Is it a replacement of depositories?
A: No, it is not. In fact, we are in discussions with depositories to develop a seamless mechanism for companies to get dematerialized as they move towards becoming listed company.
Q: How many companies are there on StockChain?
A: StockChain is brand new and it is serious business. As of now 5 companies are managing their shares registry on StockChain and there are multiple other companies who have applied to be on the platform.
Q: What is legal/regulatory standing of StockChain?
A: Maintaining a valid securities registry is obligatory on all companies listed, public or private as per companies act. In India it is governed by section 88 of the Companies Act 2013. StockChain is built in compliance with various rules and provisions as have been notified under section 88 by MCA.
Q: Does Company Law allow shares registry in electronic form?
A: According to Section 88 clause, 27 of the Company Law 2013, companies can manage share registry in electronic format as well. In fact, for companies having more than a thousand shareholders, it is mandatory to manage the registry electronically.
Q: What is the Tech architecture (is it private or public blockchain)?
A: The underlying Technology platform is a private permissioned blockchain
Q: What is the underlying technology?
A: StockChain has its own communication protocol that is developed keeping in mind the requirements of the companies, regulatory bodies and provision to accommodate the changes in future that may impact the registry norms.
Q: How is StockChain related to GREX, do all companies on StockChain need to be on GREX and vice versa?
A: GREX is a founding member of StockChain alliance. GREX also requires that companies must adopt StockChain as their securities registry [as part of their articles], as part of their qualifying criteria to go Live. GREX will be able to create and modify the registry records based on transactions that the company allows on GREX platform. However, if a company is not on GREX, it can still be on StockChain by registering through INFEX(infex.io).
Q: What if the company already has shares dematerialized?
A: As mentioned we are in talks with depositories for a seamless connect with their systems. It may tomorrow be possible for even dematted companies at depositories [especially listed companies] to have their records on StockChain as well. This will help these companies access other value added services and solutions that are offered through StockChain.
Q: What will happen if tomorrow due to any reason company needs to move out of StockChain or StockChain is no more functional?
A: The data at StockChain belongs to the companies and the companies only. Should StockChain ever face existential challenges it will notify companies so that they can make appropriate changes [of either maintaining it as before or switching it to a depository]. At any point in time the companies will have the registry information available for download.
Q: What will be the impact on corporate compliance?
A: StockChain provides features that cater to all kinds of corporate events and/or compliance record keeping – much more than maybe required by laws etc. However, being a digital system, it is lot simpler to manage such corporate events and/or record keeping at StockChain.
Q: Does it mean that companies coming on StockChain are doing an ICO?
A: No, it is a Securities Registry solution only. StockChain shall provide for tokenization of securities. However, using tokenized securities to do an ICO while maybe possible, but, is not a solution provided by StockChain