— Ontology (@OntologyNetwork) December 13, 2018
According to an announcement made last week, OEP-506 is designed to standardize a series of interfaces for STOs while meeting other requirements essential to their function, such as KYC compliance.
“STOs have increased in popularity recently, even being regarded by some as the next capital market revolution,” the Ontology team said. “Ontology’s technology philosophy is to be transparent, regulatory-friendly, and utilize decentralized digital identity. We have conducted a series of research and case studies on what we can do to support STOs and recently released the OEP-506 token standard proposal.”
Ontology’s new STO platform addresses four major areas, including trust services, registration services, compliance services and notification message services. Each service will be implemented through a decentralized application (dapp), where smart contract access control allows for control of regulatory agencies, issuers and investors.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.