Mason Borda, CEO and cofounder of Tokensoft, joins the show. In this episode:  Tokensoft's ERC-1404 standard Why put securities on chain? Commonalities between the spirit of securities laws and the values of crypto markets The possibility of making stock transactions into a real time phenomenon Transparency through registered security offerings versus on-chain cash flows and freely viewable contracts How on-chain tokens are transparent and where they should volunteer additional disclosures Tokensoft's Arcoin and INX issuances Mason's response to the critiques of the INX offering Why regular companies don't just "hold their own securities on a centralized database" DTCC explained for Bitcoiners How Mason thinks about securities regulation today as compared with 2017 Is the 'complexity defense' sufficient to ward off securities regulators? Mason's desired approach to the market from the SEC Lessons that the SEC can take from MAS (Singapore) and FINMA (Switzerland) The outstanding barriers to security tokens gaining liquidity and market share