Description
Book SynopsisExplores how the financial industry will be affected by developments in blockchain and cryptocurrencies at the dawn of a new digital age in finance Our financial system is in the midst ofa digital revolution. Blockchain, viewed by many experts as the most important invention since the Internet, haschangedthe way we exchange value and information. Although most people are aware of Bitcoin and other cryptocurrencies, fewunderstandhowsecurity tokensdigitized forms of traditional ownership certificatescandriveblockchainto reach its fullestpotentialbyofferinginvestors features and innovations that are simply not possible with paper certificates. Digital Finance: Security Tokens and Unlocking the Real Potential of Blockchainexplainshowthe integration of blockchain and security token technology willtransform the current financial infrastructure and radically improve efficiency, transparency, and security. Using clear language and an easy-to-follow framework, author Baxter Hines draws upon his decades' experience in the financial industry toaddresshowthedigitizationof assetswilldrive cost reductions, enhance flexibility,andpave the way fornew business models and revenue streamsfor years to come. Filled with real-world case studies and expert insights on the latestopportunities andtrends,such as the COVID-19 pandemic'srole inacceleratingthe adoption of blockchain,this must-have resource: Shows how blockchainanddistributed ledger technology are disrupting the financial industryExplains what security tokensareandwhythey are the next major breakthrough for investingHighlightshowblockchain technology has created newand moreefficient ways of fund raising and investingIdentifiesthewayscompanieslike IBM, Fidelity Investments,and AXA are deploying blockchain and tokenized solutionsDescribes howassets only available to institutional investors could become marketed to the mainstreamDiscussesthe impact that security tokens will have on real assets such as stocks, real estate, bonds, and derivativesProvides insight into how centralbanksaround the worldare embracingblockchain and beginning to issue digital currencies Digital Finance: Security Tokens and Unlocking the Real Potential of Blockchainis essential reading for financial professionals, general investors, finance and technology students, regulators, legal professionals, and users of cryptocurrency and blockchain technology.
Table of ContentsDisclaimer Notice ix
Acknowledgments xi
Preface xiii
Introduction 1
Part I The Magic Ledger
Chapter 1 Blockchain Basics 13
Chapter 2 Fundamentals of a Security Token 37
Chapter 3 What Types of Assets May Be Tokenized? 47
Chapter 4 Security Tokens Will Massively Disrupt and Vastly Improve Markets 61
Part II Creating the Digital Wrapper
Chapter 5 Key Features of a Security Token 73
Chapter 6 The Security Token Ecosystem 79
Part III Realizing the Potential of Security Tokens
Chapter 7 Regulation of Digital Assets 89
Chapter 8 Markets for Digital Assets & Security Tokens 103
Chapter 9 “DeFi”: eLending and the Future of Getting a Loan 117
Chapter 10 Digital Adoption 129
Concluding Thoughts 145
Notes 159
Additional Resources 175
About the Author 179
Index 181
