BlackStar's Digital Trading Platform Concept Receives SEC Guidance in Q3 2020
BlackStar Enterprise Group (OTCQB:BEGI) has developed a software platform showcasing a blockchain-based trading concept. The Peer-to-Peer BlackStar Digital Trading Platform (BDTP) aims to allow cash trading of BEGI shares with a working demo already hosted on Amazon Blockchain. Plans include a nominal entry fee and unlimited commission-free trading, targeting operational status by Q1 2021, pending funding. The company has engaged with SEC FinHub for regulatory guidance regarding its Alternative Trading System (ATS) application. Further insights can be found in their recent Form 10-Q.
- Successful development of blockchain trading software.
- Working demo of the BDTP on Amazon Blockchain completed.
- Plans for unlimited commission-free trading for shareholders.
- Regulatory guidance received from SEC FinHub on ATS application.
- Operational status of BDTP is contingent on securing funding.
- No specific timeline established for BDTP launch beyond Q1 2021.
BOULDER, CO / ACCESSWIRE / September 15, 2020 / BlackStar Enterprise Group, Inc. (OTCQB:BEGI), has created software demonstrating the concept of trading shares for cash using blockchain technology. The software design is complete and demonstrates a proof-of-concept trading ability while recording activity using an immutable blockchain ledger hosted by Amazon's (AMS) Hyper-Link Blockchain.
The Company has designed and is constructing the Peer-to-Peer ("P2P") BlackStar Digital Trading Platform ("BDTP"). We have completed a working demo on Amazon Blockchain that facilitates shareholder trading activity - a process that we believe complements the existing market makers. Currently, we are planning that there will be a small charge to enter the platform, but no ticket charge, and with unlimited commission-free trading. We hope that BDTP will be operational, subject to obtaining funding, by 1st Quarter of 2021.
The Company is positioning itself to trade BEGI common shares digitally on Amazon's Blockchain while complying with the rules and regulations within the Broker Dealer Eco-System. We believe that this parallel market may produce liquidity from price movement or arbitrage, along with low cost of entry and easy access to Bid and Offer prices for both shareholders and speculators. In July 2020, the Company presented the concept to SEC FinHub staff members for regulatory guidance and received the recommendation to apply for Alternative Trading System ("ATS") status. Given that guidance, we are evaluating our options for finalizing the BDTP, including exploring partnerships with existing ATS's. BlackStar will continue to seek further input from various regulatory agencies and OTC Markets on the potential functionality and regulatory aspects of the BDTP over the next several months.
More information can be found in the Company's recently filed periodic report on Form 10-Q for the quarter ended June 30, 2020.
BlackStar Enterprise Group, Inc. (OTCQB:BEGI)
WEBSITE: Blackstarenterprisegroup.com
EMAIL: Info@Blackstarenterprisegroup.com
FACEBOOK: Blackstar Enterprise Group Inc-BEGI
CONTACT: Joseph E Kurczodyna CFO, 847-804-6873
SOURCE: BlackStar Enterprise Group, Inc.
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FAQ
What is the BlackStar Digital Trading Platform (BDTP)?
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