BloxSys was founded by Cedric Edmonds who, whilst working at Solidum, was the designer and creator of the 'ILSBlockchain', a blockchain system which went live in July 2017. The system, which involves various trust structures and issuers, allowed for the creation of asset-backed securities on a private permissioned blockchain. The system allows investors to purchase and hold these securities on the blockchain and to enter and settle secondary trades directly themselves using their nodes on the blockchain. It is believed that this is the first live-system issue of dematerialised tradeable securities ever on a blockchain. (see: Artemis.bm)
The first issue of securities was a $14.8m issue of Dom Re 2017 securities. It was issued to half-a-dozen investors at the initial offering and in November 2017 a new investor became a participant onthe blockchain and purchased some of the securities on the secondary market. It is believed that this was the first time ever that securities had ever traded on a blockchain. Additional securities were added over the January 2018 renewal season. In June 2018 the Dom Re 2017 notes were redeemed on the blockchain and investors purchased the new Dom Re 2018 notes. In the September 2018 the Dom Re 2018 received a listing on The International Stock Exchange (TISE). This was the first time that securities settled on a blockchain were listed on an exchange.
By 2020 a total of 23 different securities had been settled and traded on the blockchain.