Bitcoin's invention makes digital transaction platforms more popular among the public. Since 2018, Blockchain was developed to achieve a decentralized system. The use of blockchain in various digital platforms leads to public consensus for a new model of trust between parties who make transactions. Principles of the agreement, efficiency, and mutual trust are essential to the existence of a platform in society. The adoption of blockchain technology is meant to build cryptography and digital assets in business for the individual in large quantities for global jurisdiction. Imaginatively the token sale has resulted in new projects full of innovation that will generate staggering amounts of money.
The sale of asset tokens has achieved a very fundamental change in fundraising for the development of the startup platform. If the former developers are challenging to obtain funding in the beginning, then now with the concept of token sales can be used as an efficient new way to get some investment funds from the community. Token sales have come with various risks, but the raising is still done through token publishing without blocking new business and technology development. Any token edition will require a smart contract in exchange. At a high level, there will be several categories of digital asset types: digital asset exchange media, utility tokens, and securities effects.
The digital asset exchange media is a digital coin and another digital asset that becomes one of the encryption techniques used to manage the unit generation and transfer verification. The operation of digital asset exchange media is done independently from publishers such as the central bank. The next asset is a token utility. That token is a token created to facilitate access to service units that can be acquired through asset purchases. API keys are often compared to this token, as both can be accessed to access the service. The last category is securities that represent the protection. Digital assets have a role in the digital representation of tangible assets. In the future, it’s expected to present a variety of other more innovative assets.
Gibraltar is one of the platforms that develops digital asset trading with the latest methods to maximize the benefits gained by platform users. In January 2016, HM Government of Gibraltar has published a consultation document that makes distributed consideration rules for leading technology companies (DLTs). The paper is titled Virtual Currency: Outline Regulatory Framework. Feedback will be received after consideration for more detailed performance on project development implementation. Consultations have shown a strong preference from GFSC for regulators of such activities. HM Government of Gibraltar re-publishes a consultation paper Proposal for the DLT Regulatory Framework accompanied by three pillars of the desired rules and nine principles from DLT.
The approach in the founding of the platform has been explored in a consultation paper to provide certainty of DLT company regulations operating from Gibraltar and Gibraltar based as well. Besides, the consultation will also provide a more responsive regulatory framework. The approach intends to encourage technological growth and fintech skills in jurisdictions. Sufficient flexibility will also be provided for the efficient arrangement of new business activities, processes, business models, and products. Increased consumer confidence is also essential in corporate affairs and will be well governed using novel technology. The ultimate goal of consulting paper exploration is to encourage DLT companies to set up it in Gibraltar as there will be a regime that suits the activities undertaken. You can access the website and Whitepaper by these links:
Ann Thread: https://bitcointalk.org/index.php?topic=2684176.0
Website: https://gbx.gi/
White Paper: https://gbx.gi/token-sales/GBX-Whitepaper.pdf
The regulations made have been in effect since January 2018 under the HM Government of Gibraltar framework. Implementation has been recognized for the flexibility required to make it easier to adapt to new conditions and new DLT usage. Rules have been applied to more extensive variations. Thus the use of DLT regulations is a principle that is targeted and non-decisive. The nine laws required by DLT companies are as follows.
• Run the business with honesty and integrity. Reliability will be one of the essential principles of running a business. Honesty and integrity will be directly related to consumer trust, so it needs to be done and maintained.
• The platform must also support adequate financial and nonfinancial resources. It can make the platform stay afloat and continue to improve its existence in the global community.
• The principle requires the platform to be able to manage and control business efficiently and run the business with adequate skills and attention. Business should also be run with diligence and understanding of risk ownership that will occur to the business and its customers.
• Companies should also have sufficient management and governance to run well and maximally.
• Companies should be able to ensure all security access systems and protocols are maintained to a high standard.
• The platform must have the ability to prevent, detect, and disclose the risk of financial crimes that often occur in digital transactions such as terrorist financing and money laundering.
• The platform must also have the resilience to the development of contingency plans for order and solvents that subside businesses.
The GBX Platform For Port of Crypto That Use Rock Token
Gibraltar Blockchain Exchange is a company that belongs to a group of GSX companies. Proposal of GBX has requested approval from Gibraltar regulator in DLT approval appliance. Its use aims to make GBX a platform that can sell token and digital utilities that can be integrated with market exchange. GBX will be licensed under DLT regulations in the first half of 2018. A different passage has been gained by GBX in the latest market environment for the stock market so it will require AML / KYC for a standard, quality control, and digital asset market transparency. The company needs governance and management expertise to provide the GSX regulator experience. GBX also proposes to follow the same governance and regulatory system to enter into digital asset trading and cryptocurrency.
GBX will be a platform for GSX companies. Operation of Gibraltar Stock Exchange will be a market regulated under the EU and members of Enterprise Etherum and Aliens Hyperledger. The proposal from GSX to exchange using blockchain on the capital market will be the target of the world's first stock exchange as token security. Liquidity will be provided at new access and transparency levels in the capital market. GBX will list token issuers who have access to the GSX capital stock and will offer more options for increased capital and access to more diverse investors in the future.
The GBX ecosystem will provide financial services in a fintech ecosystem that will make a difference from other participants in the digital sector and token assets. The operation of the GBX market will also be in line with the process of the GSX Group with Tokenised Securities Exchange. Fintech's financial services are expected to be professionally delivered through a trading platform that provides support to the full spectrum of market participants in the ecosystem. In the end, the offer will be estimated to be some of the features in it; the GBX market, the Token GSX Stock Exchange, funding services, corporate services, business sense, and digital e-money agencies. The launch of the GBX ecosystem will use a gradual development approach that will begin with the operation of the GBX market.
Selah GBX market began to operate in December 2017; then further development will be done with funding services, corporate, and business solutions. Furthermore, there will be facilities that can include debt funds and is expected to launch the Toen GSX Stock Exchange for the second time in 2018. Continued development will create a digital e-money agency that will be the business line started in 2018. GBX Teleh is committed to building blockchain community globally. Proposed establishment of GBX Alliance for a consensus building platform, and trust in the city. The creation of the GBX innovation center during September 2017 aims to provide support for the blockchain business in Gibraltar.
The use of Rock Token will be one of the market functions of GBX and ecosystems. The Token Rock structure refers to the 20th ERC token that can be used for the ownership of membership privileges within the platform and can use it as a medium of exchange for features existing across the GBX market and the GBX ecosystem. The establishment of GBX will make a demand for high utility tokens and digital assets to be operated in the regulatory framework of Gibraltar and is the first in the sector. The creation of high standards is intended to conduct acceptance and trade in a controlled environment with ongoing obligations and standards of conduct and remain under the GBX rules. The development of whitepapers is also done in quality with conditional content to reveal the measures and certainty of AML / KYC compliance.
The Gibraltar Blockchain Exchange platform will be done with priority liquidity and warranty with securities targeting so it will allow access levels. Rock Token will be a medium of exchange on the market and the GBX ecosystem. Rock Token will enable the holder to have membership benefits by exchanging Rock Tokens that include fundamental access rights and potential incentives. You also need to contribute to the sale of Token Rock which will begin on February 7, 2018. You are expected to join the community to interact further with the developers and update the latest information from the development of the platform.
Social Media:
https://twitter.com/GibBlockEx
https://www.facebook.com/GibBlockEx/
https://t.me/GBXCommunity