ERC-884 Key Points
- ERC-884 is an Ethereum-based token standard specifically designed for issuing shares in Delaware corporations.
- It is a non-fungible token (NFT) that represents share ownership in a company.
- ERC-884 tokens are non-transferable, ensuring they remain within the control of the issuing company.
- These tokens help in maintaining a decentralized, transparent, and verifiable record of share ownership.
ERC-884 Definition
ERC-884, or Ethereum Request for Comments 884, is a unique Ethereum token standard created for issuing shares of Delaware corporations. This standard ensures the maintenance of a decentralized cap table, enabling a transparent and immutable record of share ownership. As a non-fungible token, each ERC-884 token represents a unique share, and its non-transferable nature ensures it remains under the control of the issuing company.
What is ERC-884?
ERC-884 is a distinct token standard on the Ethereum blockchain that is specifically designed to issue shares for Delaware corporations. It is an NFT, meaning each token is unique and represents a unique share in a company. Unlike other token standards, ERC-884 tokens are non-transferable, making them ideal for representing share ownership where the issuing company needs to maintain control.
Who uses ERC-884?
ERC-884 is used by Delaware-based corporations wanting to issue shares on the Ethereum blockchain. By utilizing this token standard, corporations can create a transparent, verifiable, and immutable record of share ownership. This can be highly beneficial for corporations seeking to leverage the advantages of blockchain technology for their cap table management.
When is ERC-884 applied?
ERC-884 is applied when Delaware corporations decide to issue their shares on the Ethereum blockchain. The application of this token standard provides a decentralized and transparent approach to maintaining a company’s cap table, which can be particularly useful during audits or when seeking investment.
Where is ERC-884 used?
ERC-884 is used on the Ethereum blockchain, a public, decentralized platform well known for its smart contract functionality. The use of ERC-884 is not limited to any geographical location and can be utilized by Delaware corporations globally.
Why use ERC-884?
The key reason for using ERC-884 is to leverage the advantages of blockchain technology for share issuance. It enables the creation of a decentralized cap table, which is transparent, verifiable, and resistant to tampering. This can help to establish trust with investors and simplify the audit process.
How does ERC-884 work?
ERC-884 works by issuing unique tokens that represent shares in a Delaware corporation. Each token is unique and non-fungible, representing a distinct share. The non-transferable nature of these tokens ensures control remains with the issuing company, adding a layer of security and control to the process. This allows for the creation of a decentralized, transparent, and verifiable cap table.
