Korporatio, which means a corporation in Esperanto is a firm that brings the idea of a Smart Company – a globally-connected and blockchain-compatible firm with its own legal identity. In providing this service, Korporatio creates legally recognized trading entities which can own assets and capital.
Stefano Covolan, the founder of Korporatio believes that the solution will help entrepreneurs remove manual processes, expensive third party intermediary and unnecessary red tape in corporate governance. “Automation of workflows so you no longer need middlemen”, described him further.
The solution of Smart Companies that was launched in Singapore on the last two weeks are legally compliant tokenized entities that run on the Ethereum blockchain platform. Notably, Smart Companies automate and streamline things by design that removes paperwork, filing of legal documents and compliance checks, that takes weeks to complete into a few clicks on a dashboard.
Built on a blockchain platform, Smart Companies ensure trackability, traceability, immutability and security by default. Besides, with real-world executions, these characteristics represent a powerful asset bringing higher levels of transparency while reducing bureaucracy.
Other than that, with the uprising trend of tokenization of assets, the newly invented platform from Korporatio shares ERC-20 tokens modified for securities laws. In other words, whatever your company owns under its entity are sellable and tradeable like securities with direct ownership rights.
Finally, it may be concluded that there are powerful potentials that lie underneath Smart Companies. Being 5 jurisdictions strong today, the platform will not only unlatch the possibilities of illiquid assets that alone have been estimated to be worth trillions, but also the creativity and innovation that comes out of digitizing shares, governance and workflows.
Coming from a group of entrepreneurs, Korporatio is simply to make founders and businesses’ owners lives easier and much smarter
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.