Project Open is a proposal advocating for the issuance and trading of equity securities directly on public blockchain networks like Solana. Jointly launched by the Solana Policy Institute, Superstate, and Orca, this initiative aims to modernize the outdated US equity market plagued by intermediaries, settlement delays, and high fees. The plan includes filing a legal framework with the SEC, suggesting that traditional registration statements could be adapted to utilize digital token classes instead of paper shares, enabling instant wallet-to-wallet transactions. Project Open emphasizes compliance with a pilot program, requiring KYC onboarding and educational modules for investors, who would hold token shares in secure wallets. The initiative proposes a trading framework based on smart contracts, allowing it to circumvent certain existing regulatory obstacles. With recent shifts in the SEC's stance on blockchain, Project Open presents itself as a timely effort to merge traditional finance with crypto, potentially paving the way for innovative capital markets that settle transactions in seconds, promoting efficiency and transparency.

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