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How it works

On Chain Company is a company/business registration service on the Blockchain.#

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 :

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.