On the J-STO platform (hereinafter referred to as the “Platform”) developed by the LEVIAS, the first case in Japan of an asset transaction utilizing the Security Token has been conducted on December 24, 2019.
On August 2019, LEVIAS developed and provided a photovoltaic (PV) power facility fund by J-STO (Japan Security Token Offering), a fund-raising scheme using the Security Token.[Solar photovoltaics business J-STO（Japan Security Token Offering）fund-raising support]
On the platform, the status based on the silent partnership (TK) agreement has been transferred through the Security Token issued at the photovoltaic J-STO, which is proof of the status of the investors. Besides, it was performed by the transfer of equity interests (by OTC deal) in a silent partnership (TK) agreement, which is generally rarely done.
This case reports that secondary transaction with Security Token has been implemented for the first time in Japan.
What is the J-STO Platform?
This platform enables the management of information on various contracts/agreements and assets, which traditionally had been managed in the form of analog documents, in a highly reliable digital format utilizing Blockchain and AI technology.
On this platform, the application of various contracts/agreements are triggered/performed by the activation of an automatic program (Smart contract) embedded in a security token (an electronic voucher recorded on the blockchain as a proof of contract status). It is possible to perform a series of consensus and consent procedures integrated to, and automatically rewrite/update the investor list of various assets.
In the upcoming update, on the platform, the application of AI integrated technology will constantly monitor the recognition of actions related to the processing and workflow of a series of autonomous programs, and if suspicious matters are detected, investigate the cause. Therefore, we are investigating to activate the suspicious target pickup and a countermeasure program that analyzes the difference between suspicious operation and normal operation. This countermeasure program learns all problems that have occurred in the past, detects future problems that occur in the process of using this platform, investigates the root cause of the problem, and formulates and executes a problem-solving process.
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Anderson Mori & Tomotsune.
Contact Information Desk
LEVIAS INC Management Department: Tomohide Hiwatashi
4F, 2-7-7, Shibadaimon, Minato-ku, Tokyo, Japan 105-0012