Web 3.0 specialized company Byu Technology announced on the 22nd that it attracted attention by unveiling the optimal PoC verification solution for STO at the 2023 Blockchain Promotion Week event held for two days from the 16th at COEX in Gangnam-gu, Seoul.
The STO PoC platform unveiled by Byu Technology is a proof-of-concept solution platform that conveniently verifies the entire lifecycle of security tokens (STO) from digital asset creation to burning online.
Financial and securities companies can use this platform to detect and check errors before entering the STO business, allowing them to pre-verify unforeseen risks and enabling effective business entry.
In particular, given the nature of the fractional investment industry where safety and security are paramount, verification through the PoC solution is highly regarded for enabling safer distribution of customers' digital assets and further enhancing the transparency of the investment process through blockchain technology.
A representative from Byu Technology said, “With legislation scheduled for next year, competition among companies to secure the STO market is accelerating,” adding, “The STO PoC platform and blockchain technology provided by Byu Technology will strengthen the reliability and transparency of digital assets.”
He continued, “STO will be a key contributor to forming a new blockchain ecosystem,” and added, “In addition to the PoC platform, we will launch a business model that connects asset holders and fractional investors by providing various blockchain-based integrated platforms.”
Meanwhile, the 2023 Blockchain Promotion Week was an event hosted by the Ministry of Science and ICT to promote the value of blockchain technology, which guarantees trust in the digital era, and to share various government project achievements and future policy directions. This year, it was held for two days from the 15th at COEX.
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