Overview
Last updated
Last updated
Since human civilization has entered the 21st century, most wealth exists in the form of book-entry interests. In order to regulate this wealth and transaction activities, various commercial legal rules, organizational by-laws and trading contracts have been established, and different centralized agents are involved in commercial activities. However, in the event that these rules, laws or contracts are violated, people can only rely on ex post facto judicial remedies to seek compensation for their losses. Such Judicial remedies have proven to be excessively expensive and time-consuming, and insufficient to fully recover for the incurred losses.
The emergence of blockchain technology provides a brand-new set of solutions for human beings, which is to define the bookkeeping rules and transaction arrangements for book-entry interests in codes, and to use distributed systems and cryptography to fix these bookkeeping records in terms of content and time sequence. In this way, the possibility of non-compliance or default can be eliminated by means of ex ante prevention.
By implementing the basic concepts of “code is law” and “decentralization”, the legal logic defined by norms and contract terms can be realized by rigid code logic, and the human management of centralized organization can be replaced by automated consensus mechanisms and smart contracts. This establishes an automated asset bookkeeping and transaction management model, where rights holders can directly manage and dispose of their assets without having to rely on any intermediaries or counterparties. The only thing that needs to be considered is the logic and algorithms of the predefined smart contracts.
In all kinds of book-entry interests, apart from deposit, corporate equity is probably the most important and critical class of assets. The company is the vehicle for a variety of assets and the subject of capital investment. The external action of companies is an important part of modern business, and their internal governance involves the interests of many investors. Therefore, company equity is the key link between capital and assets, business activities and corporate governance.
Using blockchain and smart contract technology to automate the bookkeeping of corporate equity and governance behaviors, and replacing the legal logic of ex post facto judicial remedies with the rigid code logic of ex ante prevention, these concepts will be of great significance to the modern business in reducing disputes, eliminating irregularities, improving transparency, and enhancing efficiency.
Based on the above concepts, we developed and deployed the ComBoox platform.
ComBoox is a blockchain-based company book-entry system designed for equity share registration and statutory bookkeeping, which is aimed to assist users to quickly establish a legal, secure, transparent, and reliable smart contracts system on blockchain for registering equity share and keeping records of corporate governance.
Assist users to set up a legal, transparent, reliable "On-Chain Company".
Build an international Web3 capital market.