Companies (or would be companies) can now raise funding up to a maximum of USD $200,000 (10 million PHP), by putting up some of their company equity for sale.
Tagcash converts the equity for sale into blockchain tokens. For example for USD $100,000, 100,000 tokens would be issued. Users on Tagcash can now buy these tokens, which represent a share of the company.
Once tokens are purchased, they can be traded against any other tokens on the Tagcash platform, including any other share tokens, rewards, cryptocurrencies etc.
The shares would be held by a regulated transfer agent.
Purchase of tokens can be by Cash, Bitcoin or Ethereum, from within the Tagcash Wallet.
Any person or company buying tokens, would need to be KYC Verified before purchasing or trading.
Tagcash uses Multichain.com open source software (a fork of Bitcoin Core). Anyone can connect to the chain, create wallets, store, send and receive tokens, which means you can also store your tokens externally to Tagcash and transfer as you want, in the same way as transferring and receiving Bitcoin. The formats of addresses are also the same. However, in the case of Share Tokens, whoever you transfer to must be KYC Verified.
This service is not yet live, but if you are interested in raising funding this way, please fill in this form to apply