By making use of the smart contract protocol (The Company Ordinance) that we developed, anyone can start a company instantly along with the following powerful tools :
Business Certificates - Generate a ERC721 Token (NFT) as your business identity. It acts like a company stamp which can verify the business activies that interact with other third parties.
Board of Directors - The company baord acts like the goverance of the on chain company. Any baord members can raise a proposal and other board members can vote for it. A proposal will execute automatically depends on the ballot result. Voting rights on the baord can be delegated by the shareholders who owned the crypto shares of the company (which is a ERC20 Token). It works very similar to the Decentralized autonomous organization (DAO) standard in the Blockchain community.
Token Factory - Generate ERC20 Tokens in the name of the on chain company. These ERC20 token can be used as crypto shares or bonds for fund raising purpose.
NFT Factory - Mint ERC721 Token (NFT) in the name of the on chain company. These ERC721 token can be used as NFT artworks or an unique assets of the company.
Assets Management - All the crypto assets are managed under the name of the company. Nobody can use the assets individually. A shared wallet (bank account) is managed under the winning proposal of the company board.
Secure and Private - Apart from the listed company on the exchange, shared holders and ultimate beneficial owner remain anonymous. A company directories will be avalible soon.
The Company Ordinance Protocol is an opensource project that welcome any public auditing and development (https://github.com/kiostudio/company-ordinance). The idea of this smart contract is to convert the business law practice in common law jurisdiction (e.g Hong Kong) into code and become a global paradigm on the blockchain. For more details, please read the Smart Contract Section of the docs.