Wouldn't it be great if BitShares had a powerful champion like Ethereum has with Consensys or Linux has with Red Hat? Well soon it will! Cryptonomex may be about to gain new superpowers that will allow it to build BitShares into the powerhouse we alway knew it would be! Of course, Cryptonomex has been quietly working to promote BitShares since it released the code for the world's first decentralized exchange in 2014. But without new investor support there was only so much we could do.
Not any more.
While the industry is stampeding away from Initial Coin Offerings (ICOs) in a panic, Cryptonomex is preparing to charge headlong into the fray. Using new guidance from TXSRB and the Stokens Model, we think we may be able to freely seek investors and ultimately offer legal securities to everyone, including US citizens, on the BitShares blockchain in the next few months under the recent US Reg A+ Title IV Tier II, et. al. JOBS act and associated new crowdfunding laws.
"Reg A+ Title IV Tier II"
Kind of just rolls off the tongue, doesn't it?
...and don't make me mention "Reg B".
Stokens, Inc. and several others will be doing the same thing in parallel. This will set the new standard for high quality ICOs and put BitShares on the map for all the startups who are interested in doing ICOs "by the book".
...and we have an awesome new business model as a result.
The Case for Cryptonomex
Cryptonomex is well known as the developers of the technology that spawned BitShares, Steemit, Peerplays, Muse and now EOS. It is lesser known for its invention of the BitShares Exchange Network (Big BEN) two years ago - of which OpenLedger.info is the first and best known member. We believe conditions are now right to greatly increase adoption of Big BEN - which will now become a turn-key way for exchanges to migrate to safety and transparency demanded by the world.
Cryptonomex will be the provider of turn-key exchange upgrades that any exchange can adopt...allowing them to become compliant with global jurisdictions and the industries new Token Exchange Self-Regulating Body (TXSRB.org). Further, Cryptonomex will greatly expand its 4-year role which is similar to Red Hat for Linux and Consensys for Ethereum. Using its new funding to promote the ecosystem with far more power than it has had in the past.
BitShares will remain a fully autonomous Sovereign Software Company independent of Cryptonomex. But now there will be another way to get top quality development when shareholders can't agree to do it themselves with their own $100,000,000 development fund. Joint development proposals with matching funds from Cryptonomex and BitShares are another intriguing possibility to take BitShares to premium quality across the board. We'll also be building out a customer support division with thousands of operators standing by to provide uniform support for member exchanges.
Here are a few tantalizing possibilities for joint developments between Cryptonomex and BitShares...
- Add other commodities market tokens
- Add other smartcoin market tokens
- Hardening physical security
- BitShares in Space - mirror witness nodes on new satellite networks.
- Full time operational support team
- UI/UX Development for wallets
- Free the Fast Bitcoins (FBTC) support
- Reset bitGOLD and other swanned assets
- Add forkless sharedrop support on UIA to other tokens
- Add Remittio debit card support to wallets for offramp
- Provide opt-in KYC/AML credentials for assets that need them.
- Attracting high quality security tokens (stokens)
- Market making capability to bring depth and liquidity
- Improved stealth privacy support
- Universal help desk - world class customer support
- Marketing initiatives
- Billion Hero Campaign acceleration
- TXSRB representation
All this is possible because of the new TXSRB-approved Stokens Model for issuing fully legal securities on the BitShares blockchain. We'll talk about how that works in a series of upcoming posts. Suffice it to say that under the Stokens model, the US just became the best place to do quality ICOs with Americans given blessing to participate again, just like in the Free World.
For now, we'll just say that the current ICO crisis is making it possible to achieve what the BitShares community has been envisioning for a very long time!
Did I mention that this all starts This Summer!
The BitShares Exchange Network (Big BEN), Revisited
Here's how Big BEN was first described on June 15th, 2015 post on bitsharestalk.org.
Here's a past article on Cryptonomex:
Cryptonomex Rears its Head