In just a few weeks from now this February the first and potentially “last buyback” of fledgling cryptocurrency OBITS is expected to occur, whereby an anticipated dividend option will be possible to exercise on the world’s first decentralized financial trading platform, the de facto BitShares 2.0 platform OpenLedger. But with an imminent fiat gateway development around the corner things are poised for a further step up.
According to OBITS issuer and market maker, CCEDK, a Danish crytocurrency exchange, the OBITS crowd sale has so far managed to generate total public sales amounting to around 645 Bitcoin (BTC) – equivalent to around $237,000 (c.€217,000/£166,000) today. This has been spent purely on development costs and enhanced user experience.
The exchange reveals that it is expected that “any future profits made will be utilized primarily as a market maker on platform.”
Specifically, the buyback will take place on the base of a minimum 1 million (m) BitShares (BTS), starting from 10.00am GMT +1 (06.00am EDT) on February 2, 2016. Sell orders are expected to be placed on February 1 2016.
Developments around the first-ever cryptocurrency OBITS based on the profits generated on a decentralized exchange (DEX), which for those that don’t already know is OBITS based on the DEX named OpenLedger, a financial system based on the Bitshares blockchain and its recent launch of next-gen platform BTS 2.0, has certainly garnered a few media column inches since the initiative launched last October.
As a financial system, Openledger was launched by Ronny Boesing, CCEDK’s CEO and founder, in co-operation with Cryptonomex Inc., an independent US-based blockchain development company run by Dan Larimer and founded by the developers of the BitShares blockchain, utilizing the Graphene tool kit.
Touted as being able to deliver speeds akin to almost that of NASDAQ exchange also allows individuals to set up their own user issued assets (UIA’s) and thereby garner funds in fiat or crypto [currency] for their personal projects.
Future Developments On The Cards
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Developments though are far from over. The issuers of OBITS, namely CCEDK, which is the registrar of OpenLedger, keep innovating and coming up with an extra ace. It’s all part a journey of constant diversification.
But of course we are talking about Danish input here. And, I could list a few examples of innovation over the years from Danish physicist Niels Bohr, who received the Nobel Prize in Physics in 1922, onwards.
A much more recent illustration springing to mind came after I visited a SIBOS (Swift International Banking Operations Seminar) a decade ago in Copenhagen, is how in 2007 the Danish mortgage loan system was successfully exported to Mexico using technology (software and bond functionality) developed by the Danish central securities depository VP Securities.
Making ‘Crypto’ Currency Waves
Boesing in northern Denmark contends that: “OBITS as a currency and a market maker is really making waves both short and long term. And, we’ve come to the conclusion that best possible value of OBITS is based on putting a hold on selling of any remaining supply from our side, starting from the time of the first buyback.”
As such a countdown to this commences from Monday, January 18 2016, on the OBITS website.
Boesing elaborating on this upcoming initiative says: “We will then in future only offer a limited amount of remaining OBITS for sale based on the introduction of a new project…every time adding new value to the overall portfolio of OBITS.”
He adds: “We believe that perhaps the first and only buyback experience will confirm the OBITS holders in their choice of OBITS being a currency with great potential. Clearly, we would like to add some extra value to this belief on an ongoing basis by offering new projects every month.” That is, if such endeavors serve to add value.
The first interesting new project is expected by mid-February, when a remaining amount of OBITS supply is to be offered for sale. “A deadline as well will be offered at the time of presentation of this newly added profit generator,” the Dane says.
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Special Buyback Warm-Up
As of this Saturday (January 16) a special ‘buyback warm-up’ was introduced with the help of one of the future profit generators of OBITS called ShareBITS.io.
Described as unique, the sharebot mechanism has undertaken to initiate a share drop to all OBITS holders on the base of a total of 2 Bitcoin (BTC), on a platform named OPENBTC. According to recent statistics of BTS blockexplorer cryptofresh.com this is spread out across some 335 holders.
A 2-minute use case video on YouTube (‘OpenLedger – Smart Trading Decentralised’) has recently also been launched to provide more color and explanations. At the time that it was put together a disclaimer stated that some features were “still under development but are approaching completion.”
With the new fiat gateway now approaching reality it shows that the consortium behind the project are putting words into action. As Boesing puts it: “It was the time to ask whether all of the points mentioned in the disclaimer of that video had actually come true or came up short.” But perhaps you might want to digest it yourself over a coffee and a Danish.
So, as from next Wednesday (January 20), it will now be possible to deposit more than 15 fiat (i.e. traditional) currencies to be converted into US dollar (USD), Euro (EUR), Chinese Yuan (CNY) and then directly to the user account of OpenLedger according to Anti-Money Laundering (AML)/Know Your Customer (KYC) procedures. And, as such the equivalent OPEN.USD, OPEN.EUR, OPEN.EUR.
This development will represent the first time worldwide that you are able to deposit fiat via a gateway directly to a decentralized exchange and its equivalent valued fiat asset.
On top of that users will have the immediate option on a market of their choice to exchange fiat to the official currency of the platform – namely BitShares. And, with this they can purchase assets of gold, silver, as well as Bitcoin and Litecoin. It should be noted that depositing is free.
The expectation is for more assets to be added going forward over the course of 2016. Boesing adds: “On the base of this fiat gateway I believe you will see in the coming months and hopefully even in February added gateways – debitcard NanoCard, PayPal and Ripple.”
According to OBITS issuer and market maker, CCEDK , a Danish crytocurrency exchange, the OBITS crowd sale has so far managed to generate total public sales amounting to around 645 Bitcoin (BTC) – equivalent to around $237,000 (c.€217,000/£166,000) today. This has been spent purely on development costs and enhanced user experience.
The exchange reveals that it is expected that “any future profits made will be utilized primarily as a market maker on platform.”
Specifically, the buyback will take place on the base of a minimum 1 million (m) BitShares (BTS), starting from 10.00am GMT +1 (06.00am EDT) on February 2, 2016. Sell orders are expected to be placed on February 1 2016.
Developments around the first-ever cryptocurrency OBITS based on the profits generated on a decentralized exchange (DEX), which for those that don’t already know is OBITS based on the DEX named OpenLedger , a financial system based on the Bitshares blockchain and its recent launch of next-gen platform BTS 2.0, has certainly garnered a few media column inches since the initiative launched last October.
As a financial system, Openledger was launched by Ronny Boesing, CCEDK’s CEO and founder, in co-operation with Cryptonomex Inc. , an independent US-based blockchain development company run by Dan Larimer and founded by the developers of the BitShares blockchain, utilizing the Graphene tool kit.
Touted as being able to deliver speeds akin to almost that of NASDAQ exchange also allows individuals to set up […]
