The tokenized asset exchange, Templum continues to garner more market positioning. Originally Templum acted as a regulated exchange. Now the firm wants to expand services from a security token exchange and enter the token issuance field. As part of this strategy, Templum recently hired Bernard Van der Lande as Chief Issuance Officer.
New Team Members
Van der Lande has the experience to take Templum to new heights. He is experienced in traditional, cross-border, and digital capital formation strategies according to a recent press release. Prior to his decision to join the Templum team, Van der Lande was the Managing Director of Easterly LLC, as well as, for CBRE Capital Advisors. His experience and network will prove to be priceless as Templum accelerates its strategy to match the growing market trends.
New Standards
In a past interview, Templum CEO Vincent Molinari explained that the firm seeks to create new standards across the tokenized asset sector. In order to accomplish this hefty task, Templum developers must help create new infrastructure for these assets, both legally and technically.
Interestingly, the firm petitioned the SEC in April 2019 to provide more clarity regarding mining activities and how they correlate to regulations regarding tokenized assets. The letter points out that miners, technically, are sending and preparing transaction confirmations when adding blocks to the blockchain. The company wants to ensure that miners are not violating current regulations because they are “effecting transactions.”
Templum Co-Founder Vince Molinari
Private Blockchain
As previously reported, Templum partnered with the private blockchain development firm, Symbiot, to build a purpose built chain to handle the company’s growing concerns regarding scaling. Symbiot was a wise choice because the firm already has ties with Nasdaq and CitiGroup. Notably, both of these firms invested Templum during its ICO which raised $20 million.
Scalability Concerns
Originally, Templum allowed its users to chose the blockchain they wanted to launch their tokens on. Consequently, problems began to arise when clients continued to choose high traffic blockchain such as Ethereum. The ERC-20 token standard is by far the most popular in the space.
Speaking on these concerns, co-founder, Christopher Pallota, took a moment to explain why using public blockchains hinders the platform’s performance. He described how during times of mass congestion, trading is hampered. Specifically, he described how during Ethereum’s CryptoKitties craze, transaction delays occurred. A public blockchain can “slow down or stop capacity” during a ten million dollar transaction stated Pallota.
Regulatory Concerns
Additionally, maintaining compliance is much more difficult on a public blockchain. Since anyone can utilize these blockchains, it’s nearly impossible to know who are the counterparties in your transaction. Obviously, this is a problem when you are dealing with tokenized regulated industries such as securities.
Templum Corp
Templum entered the market in September 2017 as a blockchain-powered fintech company focused on secondary trading of tokenized assets. The firm is based out of New York with additional offices located across the Northeastern US. The company lists Christopher Pallota and Vincent Molinari as its founders.
A Bright Future
Given the firm’s forward-looking stance and experience level, it’s easy to imagine a scenario where Templum becomes a major player in the tokenized asset arena. You should expect to see many more developments from this team as their platform steams ahead.
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