Harbor Launches its First Securities Offering With Sale of $20 Million USC (Carolina)

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With the SEC earlier this month declaring their stance on
ICOs and that some can be categorized as Securities
Offering, a firm by the name of Harbor has launched a
platform to tokenize private securities. The firm
announced their first private sale via medium and it will
be of a dormitory facility at the University of South
Carolina.
The announcement came just yesterday, November 27th,
and the team let the investment community know that
they were compliant with existing securities laws. The
housing facility for students at the center of the new
securities offering is known as The Hub at Columbia . The
sale is in conjunction with Convexity Properties : a DRW
Company.

The total investment opportunity is valued at $20 Million
with each token is going for a cool $21,000. A total of
955 shares/tokens will be up for sale.

CEO of Harbor, Josh Stein, summarized his vision for
Harbor in the following statement:

"We are excited to partner with Convexity Properties to
introduce a more accessible and liquid form of
commercial real estate investment through the Harbor
platform."

Harbor is transforming private investments by
making it easier and more cost effective for issuers
and broker-dealers to syndicate more widely, raising
capital from a potentially broader and more global
investor pool.
In turn, investors can access opportunities previously
out of reach through lower entry points, and co-
invest alongside premier companies like Convexity
Properties with the potential for enhanced liquidity.
Habor’s Utilization of the Ethereum Blockchain

Today’s announcement by Habor did not dwell much on
which blockchain platform they will be using. But
investigating the firm’s whitepaper , we find the following
explanation on their R-Token standard:
Harbor is building a decentralized compliance
protocol to standardize the way crypto-securities are
issued and traded on blockchains. The first project is
R-Token, an open-source standard that defines a
mechanism in which crypto-securities can be
compliantly transferred on blockchains.

It requires issuing a permissioned ERC-20 token on
the Ethereum blockchain that checks an on-chain
Regulator Service for trade approval.
The Regulator Service can be configured to meet
relevant securities regulations, Know Your Customer
(KYC) policies, Anti-Money Laundering (AML)
requirements, tax laws, and more.
The R-Token Standard enables ERC-20 tokens to
become compliant crypto-securities that can be
traded across any ERC-20 compatible platform.

Source : https://ethereumworldnews.com