PAID Network is proud to announce a partnership with Amazing Blocks, a solution that enables the creation and management of equity tokens. The partnership between PAID and Amazing Blocks is set to bridge the gap between DeFi and the traditional world of business.
Leveraging the Liechtenstein Token Act, Amazing Blocks allows businesses to tokenize any business asset — from machinery to shares — and be held in wallets digitally. With the ability to transfer tokenized assets via the blockchain, businesses can bypass expensive bank and lawyer fees and avoid administrative inefficiencies.
Merging Law & Tech For a Decentralized Future
The current centralized legal system to fund a business is too bureaucratic, and as a result, costly and time intensive.
The Lichtenstein Law gives businesses a way to circumvent this process by allowing businesses to be initially funded with cryptocurrencies like Ethereum.
Amazing Blocks aims to take this law to another level by helping businesses registering in Liechtenstein to digitally raise capital by converting their assets into tokens. This removes the need for banks and improves investor relations due to the transparency blockchain technology offers.
Nicolas Weber, Head of Business Development at Amazing blocks said:
“At Amazing Blocks we are happy for this auspicious partnership with PAID Network to jointly foster the emerging token economy together.”
Expanding the European Partner Network
By partnering with Amazing Blocks, PAID Network expands its European partner network and gains access to token management and token design expertise. By leveraging PAID Network’s dApp that generates smart agreements, Amazing Blocks can drastically improve business efficiency by enabling entities to register in Lichtenstein digitally. Users will also be able to set up their own policies (such as insurance, lending, smart agreements) around business’ equity tokens. Thus, bridging the gap between traditional centralized finance and decentralized finance.
About Amazing Blocks
Amazing Blocks is a Liechtenstein-based legal tech startup that enables the creation and management of equity tokens. Leveraging the Liechtenstein Token Act, almost any asset or company can be tokenized. This includes real estate, cars, machines, and even fine art. Flexible tokens (e.g., equity tokens or debt tokens or participation rights as tokens) represent legal rights and are treated as a security according to the Liechtenstein Token Act. Liechtenstein Law permits the foundation of entities with initial contributions in cryptocurrencies like Ethereum. This makes the necessity for a bank account obsolete and enables great flexibility in the foundation process. Logically, Amazing Blocks was founded with an initial contribution in Ethereum and became the first company with completely tokenized equity. Like any other equity tokenization, it can be observed on Etherscan and grants great transparency. This showed the immense innovation potential in legal tech and established Amazing Blocks as pioneers, merging law and tech.
Amazing Blocks assists clients in all questions connected to the topic of equity tokenization and has a large network of partners familiar with the legal situation in Liechtenstein. The result is equity management with the full advantages of tokenization and the legal security of a conventional company structure.
About PAID
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.
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Website: PAIDNetwork.com
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