Cryptocurrencies have brought a significant acceleration in the process of technology innovation and evolution. However, it’s easy to dismiss these improvements as brought by crypto coins themselves. The truth is, behind every coin, there is a platform that allows its overall functionality and reliability; the real reason behind the rapid revolution of processes that already existed but that have seen new light thanks to the blockchain.
What’s funny is that even though cryptocurrencies are traded on several exchanges dedicated only to their distribution, the services themselves aren’t entirely decentralised.
Take any exchange, and the odds are that you’ll find how they control almost everything but prices and offers. They handle sales, operations, transactions, and pretty much any process that takes place on their platform. All of it is also recorded in their registers.
The curious thing is that those are exchanges dedicated to the distribution of assets that symbolise anarchy and freedom of central entities, and they accomplish this by providing a central body that drives all movements.
The lack of information that is 100% transparent and verified comes with the consequences of prices potentially being manipulated to suit the need of particular individuals.
You might be wondering why haven’t crypto exchanges (who work with blockchain-based assets) implemented blockchain records and smart contracts into their platforms to achieve better transparency and market efficiency.
What would seem like an obvious option, is only recently being done by the GBX, Gibraltar Blockchain Exchange, who looks to redefine token listing by providing a blockchain-based, decentralised cryptocurrency exchange.
The ambitious team is expecting to create a “new era of trust” for the crypto industry.
The project, which has been covered by portals like Yahoo! and Forbes, looks to revolutionise security, transparency, and accessibility for crypto exchanges through the idea of public consensus, thus empowering the community’s decisions and paving the way for a free and transparent exchange that facilitates crypto trading for everyone.
One of the most surprising things about the project is that it will be regulated by the Gibraltar government that has shown great support for distributed ledger technology, which could make it a more legitimate and trust-worthy platform to many.
To unify and put together everything about this exchange, the GBX is launching their token: the Rock Token, or RKT, which will be the currency for transactions and many functions like listings while also serving as the medium of exchange that facilitates everything for the GBX ecosystem.
Rock Tokens will be used for the following:
- Verifying membership of a user.
- Paying for sponsor, trading, and listing fees.
- Staking for both sponsors and issuers.
- Earlier access to token sales through the GBX.
- Discounts available only for owners.
- Right to vote on community developments.
- An overall reward for the positive contribution of alliance members from GBX.
- Payment for professional services available from the group.
Overall, what this project looks to bring to the table is more than enough to justify investing on their ICO. Be it to form part of the modernisation and revolution of crypto exchanges or to seise the earliest offers and discounts, RKT seems to be an excellent investment for now (they’re already backed by legitimate partners including Block Armour and Enterprise Ethereum Alliance).
Website: https://gbx.gi/
Click her to see the whitepaper explained.
