Blockstream Launch a Security Token Backed by Their Mining Facilities
Blockstream, a Canadian blockchain company, launched the security token. It will be backed by Blockstream’s mining facilities and will make a good alternative to investing in the company’s stocks. BMN is equal to 2,000 terahash per second.
Bitcoins mined to back it will be stored for three years, and then represented to the holders of BMN. Mining for the token starts on July, 9th and the tranches will follow in the third quarter of the year.
The company’s CEO, Adam Back, is sure that Bitcoin mining is a prospective direction to develop for investment because it allows more flexibility and strengthens the Bitcoin’s power over the investment market.