November 7th marked a big milestone for Augmate, as we minted and distributed one of the world’s first digital securities, the $MATE. Our journey into the cryptoasset space has taken us on several business, regulatory and personal paths. We continue to believe in the future of an evolving technical landscape through IoT and the benefits it will provide to society and our world. In addition, we have seen significant value already from distributed ledgers (DLT) and blockchain and how that will further the benefits of connecting things. The business decision to use blockchain in our platform led to a natural exploration of new funding vehicles that are growing up along with DLT. Augmate uses traditional equity, digital securities and of course, sales for our financial requirement.
The funding side of the blockchain evolution (cryptoasset) is like an uncharted sea. Initially, DLT projects were using a form of a cryptocurrency referred to as a utility token. In order to be regulatory compliant, we met with trusted advisors and securities law experts to ensure we were moving in a direction that protected the company from regulatory risk. As time goes by, regulators around the world are providing guidance on how a cryptoasset should be treated. Our decision to create a security token, now called a digital security, was not easy to make, but we firmly believe that this is the future of fund raising using cryptoassets. We will continue to be aggressively pragmatic in our use of new funding vehicles and in staying within regulatory compliance.
On the personal side, our team is highly vested in the success of this company. We have a team of seasoned professionals with a strong belief that the world will be better off if it is explored, mapped and prepared for the massive population of IoT devices coming online. For investors, there has been a belief in our promise, alongside the realization that the seas may be rough no matter how much we prepare. Our stakeholders have assured us that they are willing to go the distance. We have built an optimistic community supportive of both Augmate’s accomplishments to date and the rewards ahead. There are no guarantees in life, but without setting sail to begin with, there is little accomplishment toward a new world.
So, we have reached another milestone and there is more on the horizon. The next waypoint for the $MATE is to begin trading on a regulated exchange that we are optimistic will occur sometime in December. That will be historic on many levels and we are excited to be a trailblazer in this space. We would like to thank our community stakeholders for maintaining support, as Augmate continues moving forward.