During the latest episode of “Śniadanie z Bitcoinem” (Good Morning, Bitcoin), hosted on a regular basis by Lech Wilczyński and Szczepan Bentyn, two special guests were invited: Rafał Zaorski and Jakub Mościcki, representatives of newly established Crypto Security Fund. Zaorski, being one of Poland’s most famous speculators of the last decade, announced that work is being done over the launch of an exchange index, combining blockchain-related companies listed on the Warsaw Stock Exchange (Giełda Papierów Wartściowych – GPW).
First Polish index of blockchain companies
If follows from what Zaorski said while being on air, that the first Polish index of blockchain companies listed on GPW (both on the main market and on NewConnect) is to be launched by Krypto Jam and Crypto Security Fund. The project is designed to follow the formula that powers such popular portals as CoinMarketCap or CoinPaprika. Companies being part the index are to be valued and grouped based on their capitalization level and arranged in columns within one, weighed index.
As the founders’ intention is to make the project sound more “decentralized-y” and “fintech-y”, they intend to tokenize the index. Moreover, it is to be run by a smart contract - thus, the quotation mechanism behind the index is to be independent from its founders and buy/sell transactions will be carried out automatically.
This index-to-be has been described by Rafał Zaorski as follows:
“We are planning to establish an index that resembles Standard & Poor, set the underlying terms for its functioning, calculation and allocation of proportional weighting to component companies; and subsequently, based on that, we will develop a smart contract. It can’t be a token, as the project’s foundation is a mechanism that is meant to buy and sell shares.”
However, according to Lech Wilczyński, in this case, a fully-fledged intelligent contract is out of the question – rather something being its approximation or a piece of complex software that automatically processes the inner workings of the index.
Zaorski’s crypto offensive is in full swing
Over the last several months Rafał Zaorski has been hitting the headlines of financial, economic and business newspapers, magazines and media in Poland. He attracted lots of publicity back in May, when he signed an agreement with BitBay to the tune of 20 mln PLN. The deal covers cooperation during early token releases and ICOs, block-trading services and tokenization of exchange-listed companies.
This year, for example, the Polish crypto sphere didn’t have to wait long. Early in July, Krypto Jam announced its plan to spend 1 bln PLN on blockchain-related acquisitions, signing a letter of intent with Merlin Group SA. As part of this partnership, Poland’s e-commerce leader is to become the first tokenized company listed on the Warsaw Stock Exchange (Giełda Papierów Wartościowych – GPW).
However, the latest move in the area of blockchain and cryptocurrencies focuses around launching a fund designed to secure deposits on cryptocurrency exchanges. It is called Crypto Security Fund and is headed by Jakub Mościcki.