BlackStar Enterprise Group, Inc.
21.7.2021 16:04:48 CEST | ACCESS Newswire | Press release
BOULDER, CO / ACCESSWIRE / July 21, 2021 / BlackStar Enterprise Group, Inc. (OTCQB:BEGI) (the "Company" or "BlackStar") has finalized a production-ready user interface for the proprietary software of the BlackStar Digital Trading Platform ("BDTP"). The design and build of the digital platform features is complete and in the final phase of quality assurance. For the last phase of the project, BlackStar is actively pursuing strategic relationships with various broker dealers and clearing firms to quote the stock and enable the platform to begin trading of registered BEGI shares, completing the final stages of our multi-year software engineering effort.
The Company is positioning itself to enable digital trading of registered BEGI common shares using Amazon's Web Services Quantum Ledger Database Blockchain. The BDTP has been designed to trade registered shares of BEGI and we intend to use the platform as proof-of-concept in the short-term. This will provide benefits to include real-time transparency.
We will also provide consulting to other OTC companies looking for a new method to help create a similar market solution. The platform will be adapted and customized to meet the needs of the registered issuer. A yearly subscription fee will be charged for the design and monitoring of the digital platform technology and execution; the issuer would decide who would quote and host their particular platform. BlackStar intends to integrate BDPT with the existing FINRA and SEC regulated brokerage ecosystem in order to trade BlackStar digital shares, addressing many of the regulatory issues by operating within the existing confines of the system.
BlackStar will incorporate blockchain technology to help establish a digital spot market.
A spot market is where financial instruments, such as commodities, currencies, and securities, are traded for immediate delivery - the exchange of cash for the financial instrument. Our platform will help establish a digital spot market for equities. A benefit to the spot market is that it is designed to be decentralized, shielding it from malicious short selling that is present in other parallel markets. The broker dealer service industry could experience growth by taking the lid off trading and funding. "The allure of what the investment banking industry could do in the future is to establish a compliant data base that communicates on a permanent record that is Distributed Ledger Technology, known to many as Blockchain," said Mr. Kurczodyna.
Other Platform Highlights and Benefits.
The Blockchain platform is private but accessible to Regulators.
Investors/Traders will be invited by broker dealer members. Order flow is transparent to the regulators and the issuer in real time.
The spot market platform will complement other listings.
The arbitrage between markets will offer an opportunity and additional liquidity. According to Mr. Kurczodyna, "The cash spot market establishes the day's price."
Avoidance of dark pools.
A dark pool is a privately organized financial forum or exchange for trading securities and some cryptocurrencies. The new generations of investors may not be aware of the existence of dark pools, but they may be avoided when trading registered shares over our blockchain platform.
The Blockchain First approach to order entry.
The BlackStar Digital Trading Platform will employ our "Blockchain First" approach simply by recording all activity to an immutable ledger immediately.
Other Info:
http://www.BlackStarenterprisegroup.com/investor-relations/
More information can be found in the Company's recently filings at the SEC web site: https://www.sec.gov/cgi-bin/browse-edgar?company=BlackStar+Enterprise&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany
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
SEC Disclaimer
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in BlackStar's ("the Company's") business plan. The creation of subsidiaries and expansion of services into new sectors should not be construed as an indication in any way whatsoever of the future value of the Company's common stock or its present or future financial condition. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
SOURCE: BlackStar Enterprise Group, Inc.
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