On May 27, it has been reported that the shares were already created using GSX Group’s STACS proprietary blockchain network, as STACS is designed to bring more efficiency to the legacy capital markets.
Nick Cowan, the CEO of GSX Group, highlighted that tribeOS is the first company to utilize the firm’s GRID security tokenization platform and welcomed other companies that wish to “accelerate the adoption of blockchain within the capital markets.”
He also explained:
“Our ambition is to deliver dynamic cost-saving solutions, broaden the accessibility of capital, and help issuers in terms of speed-to-market. We are working with other companies who intend to use the GRID to enter into the fast-developing world of digital securities. I’d like to thank tribeOS for putting their trust in us and the GRID. This is just the first step on the road to mainstream adoption.”
However, GSX just recently launched its security tokenization platform, which aims to facilitate the digitization of both new and existing debt securities and funds.
GSX Group tokenized the shares of a Bermuda-based adtech firm https://t.co/bRpOlbLTqx — Cointelegraph (@Cointelegraph) May 27, 2020
As per the report, tribeOS is a digital advertising platform that uses blockchain technology to record transactions to ensure transparency and fully automate the interactions.
Thus, the platform provides advertisers and publishers with content monetization services, advertising tools with fraud protection, contextually relevant advertising placements, campaign management, and optimization.