Too Long; Didn't Read
If you want to issue a tokenized or “programmable” security, you will need some code to program. There are an increasing number of ERC20 token formats to handle securities, including ST20 from Polymath, R-token from Harbor, and DS from Securitize.io. I have heard rumors that Tokensoft and New Alchemy are preparing their own token formats. I suspect they are adding to the noise because it is hard to find code that is truly open source and useful for advisors and issuers that want to design tokenized securities. Each vendor is trying to build its own walled garden, not a globally unified security market. It’s time to start consolidating the formats, and opening up participation. In this article, we will cover the basic requirements for a security token. We will also describe our own work to improve R-token, open it up, merge it with ST20, and connect it to DS.