Tesla’s shares go on Algorand
Tesla’s shares go on Algorand
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Tesla’s shares go on Algorand

By Alfredo de Candia - 31 Aug 2020

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By interacting with Algorand’s blockchain and one of its block explorer it is possible to see tokens that refer to major shares of companies like Tesla.

These are special tokens, which have a green tick to indicate that they are approved and safe tokens and can also be exchanged through an exchange.

These are not only tokens related to Tesla shares, but also to other companies like Google, Twitter, Amazon, and so on.

algorand tesla

As we delve deeper into the Tesla token, which is called Micro-Tesla 1/10000 Share (M-TSLA), we quickly realize that they are tokens that represent a fraction of the shares of their parent company.

These tokens have a total supply of 5 billion and were created by a platform called Mese, which calls itself the world’s first microequity stock exchange.

In essence, Mese has tokenized the shares of Tesla and other major international companies, or rather, has tokenized a fraction of them.

Looking at the platform we see that it is designed to simplify the exchange of these tokens and thus facilitate the sale and purchase of shares, but unfortunately at the moment, it doesn’t seem to work. 

The project, in fact, was launched on Algorand only in February, so it is probably still in the testing phase.

Apart from the platform, we can see that the concept of tokenizing shares and being able to buy only a fraction of them, allowing ordinary people to invest in big companies like Tesla, is making its way into the crypto world.

Indeed, the CEO of Aave had even proposed tokenizing Tesla cars.

Tesla shares in decline?

Tesla shares have plummeted in the last few days, from over $2,200 to just over $440. But in reality there has been a stock split that increases the number of shares in a company.

Last week, an attack was prevented that could well have brought the car manufacturer to its knees by exploiting malware that was supposed to have been installed by employees in exchange for Bitcoin (BTC).

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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