The handling of traditional shares in the Dashboard must be understood as a representation of the legal ownership structure in the traditional world. Therefore manually added off-chain transfers must always be backed by the corresponding legal documents required by Swiss OR.
This of course is different with tokenized shares that are designed to be freely transferred and every change of legal ownership gets automatically written on the blockchain and captured by the Dashboard. This mechanism allows to keep the representation of the legal ownership of tokenized shares up to date at any time. On-chain transfers can always be viewed under the menu item “Events”.
Furthermore the Dashboard allows to adjust the number of traditional shares manually. It lays within the responsibility of the company to make sure that the total number of shares (traditional and tokenized) always corresponds with the actual number of shares stated in the articles of association and the commercial registry.
To tokenize traditional shares that are property of the issuing company an administrator can simply propose the tokenization of a certain number of treasury shares. This creates a proposal that board members with signatory powers (represented on the blockchain) can sign. On the other hand a holder of traditional shares can request tokenization through our Portfolio App.
The use of the shareholder registry is an ideal entrance point into our Dashboard and the world of tokenized shares. Once a company has captured the status quo of the share distribution, the dashboard offers an incremental way to the implementation of the market for tokenized shares. We offer the usage of our digital shareholder registry free of costs and obligations.