BOULDER, CO / ACCESSWIRE / September 11, 2023 / BlackStar Enterprise Group, Inc. (“BlackStar”) (OTC PINK:BEGI) BlackStar continues to move forward with our plans to enable trading of our common shares on a blockchain with our revolutionary software called BlackStar Digital Trading Platform TM “BDTPTM“, a peer-to-peer digital trading platform of electronic fungible shares based on the blockchain. The Platform is designed to function in the existing Broker Dealer back-office operations within the confines of existing rules or regulations. A Blockchain FirstTM sample transaction is as follows: an investor holding book-entry shares of BlackStar on account at the Broker Dealer enters orders for those common shares through BDTPTM, which then records the transactions on a centralized private blockchain; the Broker Dealer or ATS hosting BDTPTM clears and settles all trades generated through them. Other Broker Dealers with Blackstar book-entry share can send orders from their customers over a secure link to the ATS/BD that hosts the blockchain trading system, BDPT. The clearing of the trade may be the responsibility of the broker-dealer that introduces their customer to trade on the B.D.T.P.™ platform.
We believe that if we are able to secure a contract to host our platform in the next three to six months, that the BDTPTM will be well-timed in the industry; in May 2023, for instance, FINRA approved OTC Markets to permit digital asset securities to be traded by broker-dealers on OTC Link ATS. We currently intend to seek a contractual arrangement such as a license with an existing ATS for a quoting service, similar to the current listing of our common stock with OTC Markets Group. At this time, no ATS has committed to an arrangement. We intend to continue having discussions with various ATS’s until we have secured an arrangement that will allow the BDTP™ platform to operate.
Once the BDTP™ platform is live and formal arrangements have been finalized with an existing ATS to execute and reports trades, the Company intends to license the platform to other publicly traded companies as a subscription service with a company specific customizable interface operation through a substantially similar license with the existing ATS. This subscription service, Blackstar’s “Blockchain Equity Trading” or B.E.T.™, would enable each subscribing company to have access to their own trading platform, based upon our core platform, where shares of their common stock could be traded, without markup or markdown in true “spot transactions” and without shorting. Additional features of the platform include the indication of interest feature for future offerings, and a corporate governance feature. All transactions, customer data and corporate governance information would be recorded immutably on an Amazon Web Services-based blockchain. The Securities and Exchange Commission and the Financial Industry Regulatory Authority would have complete and transparent access to the data recorded by the BDTP TM, offering a single data interface and consolidated history of transactions; the SEC and FINRA would only become Certificate Holders if they approve and agree to participate in viewing the data, and only if the platform is approved at a future date. BlackStar hopes that this increased transparency will mitigate many of the risks of investing in OTC-listed stocks and restore investor confidence in trading shares of OTC companies.
Bryan P Hemphill….559-359-1480
More information can be found in the Company’s recently filings at the SEC web site: https://www.sec.gov/cgi-bin/browse-edgar?company=BlackStar+Enterprise&match=&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. This press release may contain forward-looking statements. The words or phrases “would be,” “will allow,” “intends to,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in BlackStar’s (“the Company’s”) business plan. The creation of subsidiaries and expansion of services into new sectors should not be construed as an indication in any way whatsoever of the future value of the Company’s common stock or its present or future financial condition. The Company’s filings may be accessed at the SEC’s Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
SOURCE: BlackStar Enterprise Group, Inc.
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