Gibraltar’s GBX: How It Works And What Is Offering
Gibraltar is the first sovereign territory to put a break on the indiscriminate growth of the ICO market in the world by offering a set of guidelines to regulate the Blockchain business within their jurisdiction with their own ICO Exchange. The ruling was taken by the Gibraltar Financial Services Commission, and it was published in October of 2017 to be made effective on January of 2018. The organism created to handle these regulations is called The Gibraltar Blockchain Exchange (GBX), and they will work on a sponsor-based model where new ICOs will have to backup other blockchain initiatives to get listed on the exchange.
Is GBX going against the current?
The move to regulate digital currencies might seem bold and contrarian to everything they stand for since their main drawn is the freedom to work outside laws and regulations while offering a transparent platform to make financial transactions. The GBX offers an alternative by making their jurisdiction a haven for cryptocurrencies. The regulations are meant to offer a secure market for legit blockchain initiatives that are truly committed to work on the issues they are offering to solve in their whitepapers or business strategies. The GBX is also ready to show their commitment to this plan of action by creating a digital currency of their own to support this new way to do business.
The GBX and the power of their own ICO
The Rock Token (RKT) is the currency that will be used inside the GBX ecosystem for transactions, listings, and other functions. The token is meant to be used as a medium of exchange between investors under the watch of the
Gibraltar Blockchain Exchange. The main benefits listed so far are:
- Instant membership to the GBX ecosystem
- Listing on the GBX ecosystem as a certified user
- Earnings subject to interest rates as a sponsor or as issuer of ICO
- Competitive trading fees
- Early access to token sales offered through GBX
- Exclusive discounts on new ICO’s offered within the GBX ecosystem
- Voting rights on selected community developments
- Rewards to positive contributions to GBX alliance members
- Rewards for innovations on the Blockchain center
- A full-time dedicated team of professionals ready to offer their services for any contingency
The structure for GBX’s token sale
The Rock Token sale structure has been listed under the codename RKT. It will be built on the Ethereum Blockchain platform. The public sale will begin the 7th of February of 2018 and it will end on the 14th of the same month. The token sale price will be of $0, 10 per unit of RKT and will be only paid in Ethereum.
There is a total supply of 900,000,000 RKT tokens with a market cap of $90 million. The distribution of the sale is being done on private operations and public sales by The Gibraltar Blockchain Exchange. So far the organism is offering 35, 4% of the total ICO (around 318,556,250 tokens) for a hard cap of $27 million. 60,000,000 units of RKT will be offered on public sales, either by GBX directly or by other operators. The minimum purchase to participate will be of $100 paid in Ethereum.
The endgame for GBX
GBX is aiming big with their intentions of regulating the digital currency market in the European Union, by offering safer environments for trade unlike the open markets of the USA and Asia and using the sponsor system to offer additional confidence. The company is currently under review by the GFSC financial services to get their regulatory license and begin their listing process for every ICO willing to work in the Gibraltar territory.
To learn more about the new way to deal cryptocurrencies under a safe environment you can check https://gbx.gi/.
LONDON — An auxiliary of the Gibraltar Stock Exchange (GSX) is wanting to raise $6 million issuing its own advanced money as the British abroad region hopes to exploit detonating worldwide enthusiasm for cryptographic forms of money.
The Gibraltar Blockchain Exchange (GBX), a backup of the stock trade administrator, declared plans for its own "underlying coin offering" (ICO) on Tuesday, saying it will issue its own particular digital money, "Shake Token," between February 7 and February 14.
My god, with all these new exchanges, companies, etc. based on blockchain and crypto imagine how big the overall market is going to be in like 10 years. Tens of Trillions easily IMO.
We are not scared to innovate. We are not scared to welcome new businesses. We want to attract good quality Blockchain operators to Gibraltar. I found it from twitter...great
Interesting information, Gibraltar Blockchain Exchange is something new in terms of investments, they allow companies on the block chain to represent the tokens for government investment purposes.
Given the extensive experience of the stock exchange of Gibraltar in the ordinary stock market, one can speak of the reliability of operations and the quality of service. In terms of functionality tokens will be similar to shares of companies. When investors invest in companies - they buy shares, and now if they want to invest in business on the basis of a block chain - they will buy tokens.
Thanks, it's interesting.
This is great news in terms of mass adoption, market cap etc., but it feels to me that this exchange will almost be a clone of the stock exchange except for cryptos. I'm interested to see how it will play out.
That's a great innovation from Gibraltar stock exchange. It shows that they are in phase with technological changes.
Stock exchange and blockchain, great opportunity for general public to invest in blockchain and participate in this revolution.
The Gibraltar Stock Exchange shows us that they will use their many years of experience with traditional assets and are now ready to give companies on the block chain brand names of tokens for public investment.
now instead of buying shares as a way of investing in a company, investors will buy tokens that would invest in projects on the block chain. They make this investment process reliable and transparent - it's good practice. Thanks to this project, we finally see what the Etherium is really capable of.
Thank you, I will follow the developments
It is excellent news! Each exchange house means more liquids in the market of the crypts.
It is going to be world leading token sale platform and cryptocurrency exchange. Thanks for sharing this with us.
so wonderful post, thanks for sharing