Difference between revisions of "Blockstack"

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| foundation =    2013
 
| foundation =    2013
 
| location =      New York, New York
 
| location =      New York, New York
| employees =      <!-- Approx number of employees -->
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| employees =      11-50
 
| products =      Decentralized computer network that hosts independent applications
 
| products =      Decentralized computer network that hosts independent applications
 
| twitter =        blockstack
 
| twitter =        blockstack
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The [[U.S. Securities and Exchange Commission]] (SEC) approved Blockstack's offering of $28 million worth of "Stacktokens" (STX) to the public in conformance with the SEC's Regulation A+ which provides an alternative approach to traditional [http://www.marketswiki.com/wiki/IPO initial public offering]]s (IPO). Unlike most IPOs, Stacktokens do not provide an equity stake in the issuer, Blockstack.<ref>{{cite web|url=https://www.coindesk.com/blockstack-plans-one-of-the-first-reg-a-sec-approved-token-offerings|name=Blockstack Is Planning One of the First Reg A+ Compliant Token Offerings In the US|org=CoinDesk|date=July 10, 2019}}</ref> At the time of the SEC's Stacktoken approval, more than 165 applications had already been built on Blockstack.<ref>{{cite web|url=https://stackstoken.com/static/token-sale-deck.pdf|name=Sale Deck|org=Blockstack|date=July 11, 2019}}</ref> 
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Blockstack is a U.S.-based [[decentralized application]] [[platform]] designed to host [[open source]] software applications.
  
Stacktokens, offered through their own website, are utility tokens, to be used by developers and their customers.<ref>{{cite web|url=https://www.wsj.com/articles/sec-clears-blockstack-to-hold-first-regulated-token-offering-11562794848?mod=searchresults&page=1&pos=1|name=SEC Clears Blockstack to Hold First Regulated Token Offering|org=Wall Street Journal|date=July 10, 2019}}</ref> According to Blockstack, Stacktokens provide the "fuel" for registering transactions on the Blockstack blockchain. Blockstack says that its blockchain will contain very little developer logic, avoids smart-contract design and encourages decentralization of data storage.<ref>{{cite web|url=https://stackstoken.com/static/token-sale-deck.pdf|name=Sale Deck|org=Blockstack|date=July 11, 2019}}</ref>  
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== Background ==
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Blockstack went through multiple rounds of funding in its early days. In November 2014, a year after it was founded, the company announced a seed round of funding led by Naval Ravikant, CEO of AngelList. Blockstack raised $1,330,000. In 2017, it raised an unknown amount of money through a venture funding round, in which the only investor was Rising Tide, a Silicon Valley VC firm. It closed its Series A round, led by Union Square Ventures, in 2017 with $4 million raised. The company also launched an [[initial coin offering]] (ICO) in 2017, for which it raised almost $53 million. Investors for this ICO included Union Square Ventures, Naval Ravikant, and Winklevoss Capital.<ref>{{cite web|url=https://www.crunchbase.com/search/funding_rounds/field/organizations/num_funding_rounds/blockstack|name=List of Blockstack's 6 Funding Rounds from 28 Investors|org=Crunchbase|date=July 11, 2019}}</ref><ref>{{cite web|url=https://www.crunchbase.com/organization/rising-tide-fund|name=Rising Tide|org=Crunchbase|date=July 11, 2019}}</ref> 
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=== SEC-approved ICO ===
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 +
The [[U.S. Securities and Exchange Commission]] (SEC) approved Blockstack's 2019 offering of $28 million worth of "Stacktokens" (STK) to the public in conformance with the SEC's Regulation A+, which provides an alternative approach to traditional [http://www.marketswiki.com/wiki/IPO initial public offering]s (IPOs). Unlike most IPOs, Stacktokens do not provide an equity stake in the issuer, Blockstack. According to co-founder Muneeb Ali, the token had to be built "from scratch," and designed specifically to fit Reg A+ standards.<ref>{{cite web|url=https://www.coindesk.com/blockstack-plans-one-of-the-first-reg-a-sec-approved-token-offerings|name=Blockstack Is Planning One of the First Reg A+ Compliant Token Offerings In the US|org=CoinDesk|date=July 10, 2019}}</ref> The ICO is scheduled to launch July 11, 2019.<ref>{{cite web|url=https://cointelegraph.com/news/us-sec-approves-blockstack-token-offering-under-regulation-a|name=US SEC Approves Blockstack Token Offering Under Regulation A+|org=Cointelegraph|date=July 11, 2019}}</ref>
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== Products and services ==
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Blockstack is an online platform for developing decentralized applications, or [[dApps]]. Blockstack also created Stacktokens, with  which the company received approval from the SEC to launch a regulated initial coin offering.
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=== Utility tokens ===
 +
 
 +
Stacktokens, offered through their own website, are [[utility tokens]] to be used by developers and their customers.<ref>{{cite web|url=https://www.wsj.com/articles/sec-clears-blockstack-to-hold-first-regulated-token-offering-11562794848?mod=searchresults&page=1&pos=1|name=SEC Clears Blockstack to Hold First Regulated Token Offering|org=Wall Street Journal|date=July 10, 2019}}</ref> According to Blockstack, Stacktokens provide the "fuel" for registering transactions on the Blockstack blockchain. Blockstack says that its blockchain will contain very little developer logic, avoids smart-contract design and encourages decentralization of data storage. At the time of the SEC's Stacktoken approval, more than 165 applications had already been built on Blockstack.<ref>{{cite web|url=https://stackstoken.com/static/token-sale-deck.pdf|name=Sale Deck|org=Blockstack|date=July 11, 2019}}</ref>
  
 
==Key People==  
 
==Key People==  
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==References==
 
==References==
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[[Category: digital assets]]
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[[Category: cryptocurrency]]
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[[Category: altcoins]]
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[[Category: regulation]]
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[[Category: decentralized applications]]
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[[Category: distributed ledgers]]
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[[Category: initial coin offerings]]
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[[Category: New York]]

Revision as of 12:15, 11 July 2019

Blockstack
Blockstack logo.png
Founded 2013
Headquarters New York, New York
Key People Muneeb Ali and Ryan Shea, Founders
Employees 11-50
Products Decentralized computer network that hosts independent applications
Twitter @blockstack
LinkedIn Profile
Facebook blockstack
Website Blockstack Homepage

Blockstack is a U.S.-based decentralized application platform designed to host open source software applications.

Background

Blockstack went through multiple rounds of funding in its early days. In November 2014, a year after it was founded, the company announced a seed round of funding led by Naval Ravikant, CEO of AngelList. Blockstack raised $1,330,000. In 2017, it raised an unknown amount of money through a venture funding round, in which the only investor was Rising Tide, a Silicon Valley VC firm. It closed its Series A round, led by Union Square Ventures, in 2017 with $4 million raised. The company also launched an initial coin offering (ICO) in 2017, for which it raised almost $53 million. Investors for this ICO included Union Square Ventures, Naval Ravikant, and Winklevoss Capital.[1][2]

SEC-approved ICO

The U.S. Securities and Exchange Commission (SEC) approved Blockstack's 2019 offering of $28 million worth of "Stacktokens" (STK) to the public in conformance with the SEC's Regulation A+, which provides an alternative approach to traditional initial public offerings (IPOs). Unlike most IPOs, Stacktokens do not provide an equity stake in the issuer, Blockstack. According to co-founder Muneeb Ali, the token had to be built "from scratch," and designed specifically to fit Reg A+ standards.[3] The ICO is scheduled to launch July 11, 2019.[4]

Products and services

Blockstack is an online platform for developing decentralized applications, or dApps. Blockstack also created Stacktokens, with which the company received approval from the SEC to launch a regulated initial coin offering.

Utility tokens

Stacktokens, offered through their own website, are utility tokens to be used by developers and their customers.[5] According to Blockstack, Stacktokens provide the "fuel" for registering transactions on the Blockstack blockchain. Blockstack says that its blockchain will contain very little developer logic, avoids smart-contract design and encourages decentralization of data storage. At the time of the SEC's Stacktoken approval, more than 165 applications had already been built on Blockstack.[6]

Key People

  • Muneeb Ali, Founder
  • Ryan Shea, Founder

References