The Blockchain of Ownership The first institutional-grade global network for digital securities Based on Hyperledger Fabric, aimed at institutional financial entities, assets and investors
Within 10 years, digital securities will be the standard. The vast majority of capital will flow in the institutional ecosystem. Ownera’s mission is to be the rails for this new multi-trillion $ market,
C O - F O U N D E R & C E O Ami Ben David, A pioneer in the digital securities market -2017 An entrepreneur and investor • 2017, Co-founded SPiCE VC – the 1 st fully-tokenizd VC fund • 2017, Co-founded Securitize – the 1 st digital securities issuance platform • 2017-18, Worked hands-on on the first platforms, protocols and exchanges • 2018-19, Invested as a VC in 7 digital securities ecosystem startups • @AmiBenDavid 2018-19, Interacted with hundreds of ecosystem projects • And now, as CEO of Ownera, scaling up the digital securities market •
What is Ownership? Ownership is data, Society agrees that Owner X Owner A has rights in Asset Y. Like any data, it can be digitized. Owner B
The majority of global asset ownership is still Analog Owner A To trade private assets, the seller and buyer go through a slow, expensive, lawyer-heavy process. Then everyone sign documents which detail what Owner B rights the buyer gets. The combination of all documents across all owners IS the ownership. Let’s call these documents “Analog Ownership”
Security tokens make ownership Digital A master set of docs, smart contracts and regulatory Tradable ownership “Token” rules define the rights of any token holder. A blockchain keeps a record of who owns each token, replicated in consensus, so no one controls the ledger. KYA (Know your Asset): The rights of token owners, Ownership becomes a digital item, a token, which can flow instantly all over the world.
THE MUSIC ANALOGY What happens when a market moves from Analog to Digital? Stage 1: Analog Stage 2: Digital Format Stage 3: Innovation! Stage 4: Digital You can only buy the records More portable, but not a P2P, cut middleman, Illegal Streaming, , in instant, unlimited, your local shop gets fundamental change music distribution, NAPSTER… new biz models, SPOTIFY… Ownership ip: Ownership ip: Ownership ip: Ownership ip equiv ivalent: Local, paper based deals Cap management software ICOs Digital Securities
The potential: a NEW digital market • Any asset class, private or public • Efficient and low cost • Global availability and discovery 24x7 • Instant transactions • Increased liquidity • Instant dividend distribution • Reduced counterparty risks • Fractional ownership • New financial products • New business models • Regulation enforcement
Music was a 10s of $ billions market… Digitizing asset ownership is a 100s of $ trillions opportunity. $70 trn $215 trn $217 trn $544 trn Global Equity Global Debt Global Real Estate Derivatives
Institutional Players Are Coming! NASDAQ & Citi Goldman Sachs London Stock Exchange c Led a $20m investment in Invested in Circle which Led a $20m investment in security tokenization platform acquired SeedInvest to go security tokenization platform Symbiont into Security Tokens. Nivaura, and launched first STO Robert Greifield, former Societe Generale Fidelity CEO of NASDAQ launched the first $100m Entered the crypto custody “…in five years, 100% of the tokenized bond on the market, invests significantly in stocks and bonds on Wall blockchain the space Street WILL be tokenized.” JP Morgan Swisscom, Deutsche Börse VC Funds investing Developed Quorum blockchain Build a security tokens issuance A16z, Blockchain Capital, and exchange together Founders Fund, SV Angels… which is competing for security invested in startups in the space tokens projects.
Back to reality: the challenges
It starts with institutional investors The road to a massive digital securities network starts with the institutional ecosystem, where the vast majority of global capital is managed, and private assets can trade. However, an institutional-grade digital securities network does not yet exist.
The most critical infrastructure piece is missing: an institutional-grade network. The market offers either: Retail facing, pseudo-anonymous, crypto networks that are public but not institutional (Ethereum or EOS). OR Private institutional blockchains - isolated silos on intranets (like HyperLedger Fabric or R3/Corda).
While some institutions start with private blockchains, the end-game is a global interconnected institutional-grade network effect, not private silos.
Another critical problem is access to reliable asset information On-chain tokens The critical information about the real-world value of assets (legal docs, asset data, token rights) is usually held off-chain, scattered on private servers, hard to find and easy to manipulate. Real world ownership rights No information ➔ No real market ?
The “Brooklyn Bridge” problem Even worse than missing info, is misleading info. On crypto networks, anyone can “issue” tokens to sell the Brooklyn Bridge... When miners only validate digital transactions, issuers can say whatever they want about the real world. No underwriting ➔ networks fill up with “garbage”.
The institutional end-game is a network where ALL assets have legally-binding information, verified by trusted underwriters.
Ownera solves these challenges by putting regulated financial entities at the center! Ownera is an institutional-grade global digital securities network , open to all qualifying nodes, assets and users: • Only regulated financial entities can become Ownera nodes • Nodes can choose: start private → syndicate → full network The Blockchain of Ownership • Each node can implement its own fiduciary check points • 100% verified asset information with Proof of Ownership • Based on HyperLedger Fabric institutional-grade technology
Only regulated financial entities can join Ownera as nodes The role of underwriting nodes is to bring assets onboard, verify their information and transactions and seal them with Proof of Ownership. An asset can not launch directly into Ownera – only via an underwriting node. Commercial Company Real Estate Shares Company Investment Company Exchange Shares Shares Bank Infrastructure Company Project Shares Investment Bank Commercial Commercial Real Estate Debt
Who are the perfect underwriting nodes? Investment banks, exchanges, broker-dealers and other asset and wealth managers have been working with assets for decades - now they can see significant growth in digital. Knowledge Access Distribution They are at the center of the They understand the business They have access to the largest institutional investor ecosystem needs and fiduciary duties of and most lucrative assets. and can distribute assets in scale. institutional investors, and they are REGULATED.
The business model for nodes – a new $ trillion market! Underwriting nodes stake their reputation on the assets they upload to Ownera, and in return get li life fetim ime revenues from those assets. Set up fees Per transaction fees Financial services Underwriting nodes can provide multiple Nodes stake their reputation on Nodes can charge a transaction fee services around digital securities, such as the assets they upload to at the network level, regardless of Distribution, Custodianship, Credit lines, Ownera, so they are free to where the transaction takes place. Escrow and so on. price set up any way they want. This is a NEW revenue stream.
SOLVING THE “BROOKLYN BRIDGE” PROBLEM All asset tokens on Ownera are self contained units, carrying their verified real-world value and data (KYA) with proof of ownership , on-chain.
KYA (Know Your Asset) All assets on Ownera will have KYA, verified by the underwriting node of the asset. KYA is a set of docs and data (natively digital or scanned), with all the information about the asset and token rights. It is complete , legally-binding , updated with disclosures , privacy-enabled and immutable – so investors always know exactly what they own.
Investor trust is a critical success factor. When users check any asset on Ownera, they will know exactly what they’re getting (legally -binding), and which regulated entity staked its reputation on this information.
The core functionalities of securities are built into the network 90% of what used to be application-layer, is now a simple network service, so applications don’t have to reinvent the wheel, and can focus on their use -cases. Assets Underwriting Nodes Owners Assets in the real world, paired to Financial and Commercial People or legal entities with Ownera tokens via KYA, with entities, with trusted KYC/AML approval. support for multi-class tokens ownership services expertise. Proof of f Ownership Atomic Trades Distribution Consensus designed to Financial incentives powering Instant settlement against any currency, including fiat, with no a global economy of trusted prove ownership of off- ownership services. counter-party risk. chain assets. Regulation App Store Privacy Governance Full control over privacy for Open, transparent, permission- Built-in regulation-compliance. Issuers select which assets and owners decentralized. regulations to support.
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