Solana’s Project Open: A Revolutionary Proposal for Blockchain-Based Securities by Industry Leaders

On May 1st, the Solana Policy Institute, alongside Superstate Inc. and Orca Creative, presented a comprehensive proposal dubbed “Project Open” to the U.S. Securities and Exchange Commission (SEC). This initiative seeks to facilitate the issuance and trading of securities utilizing public blockchain technology, aiming to enhance overall market efficiency while aligning with regulatory frameworks.

The proposal outlines several key elements, including Token Shares for digital equity, wallet addresses that adhere to KYC regulations, and a detailed on-chain shareholder registry. Additionally, it proposes both non-custodial and compliant custodial wallet options, an instantaneous settlement mechanism, and a decentralized trading model rooted in smart contracts. Such innovations are expected to contribute to a more transparent and accessible trading environment.