Imagining The Potential Behind OpenLedger (OBITS)

The potential behind OpenLedger DEX

The financial markets of today are hindered by centralization, regulation, and communicative boundaries. How difficult is it for an American to buy a stock trading on the Shanghai Stock Exchange, for example? Today, it is simply very difficult, if not impossible. Investors would need to differentiate between A-shares and B-shares, which could determine eligibility for foreign investment. Likewise, currencies would need to be exchanged from US Dollars to Chinese Yuan. In addition, global exchange trading rights would need to be approved. Beyond this, are the impractical realities of trading volume, trading capability, access to information, and etc. But what if there was a way to cut through all this red tape.

What if there was no need for third parties or overarching regulatory bodies. What if everything could become asset-backed cryptocurrencies which could be settled entirely in the programmatic code of smart contracts. Imagine if a listing of an owned security could be purchased around the world under a universally-used reserve currency that can be easily exchanged between parties. Considering the hundreds of trillions of dollars now currently being traded throughout the financial markets, imagine what a thin slice of this market could be worth.

This is just part of the potential that can be realized by what OpenLedger DEX can one day become. OpenLedger currently operates as a decentralized exchange that revolves using BitShares as its base currency. Stable fiat currencies like the US Dollar and the Chinese Yuan can always be denominated into a market rate of equivalent BitShares. New asset-backed currencies can be created and traded here. The network is fully decentralized and can operate at the scale of what the NASDAQ Stock Exchange can process.

Now understand that it's still very early days for OpenLedger DEX. Right now we're still only looking at the trading of fiat currency and various cryptocurrencies. Yet, as the ecosystem continues to develop and as the number of cryptocurrencies begin to rapidly expand, the need for a decentralized market capable of processing both a wide number of otherwise-untradable coins will need to emerge. Likewise, expanding vertically, it would significantly increase in the exchange's prominence to trade asset-backed coins of more common securities. For example, imagine if a coin could be made representing a fund that only held a certain amount of Apple, Inc. stock. This is truly not far away from becoming a reality.

For those intrigued by the potential of OpenLedger, one way to play this is to consider an investment in OBITS, which serves as the catch-all token for the OpenLedger ecosystem. All fees collected from the decentralized exchange and those generated from the parallel ecosystems are given back to the holders of OBITS. This is done by using the received revenue to both buyback and burn OBITS, and to also sharedrop BTS-denominated currencies to OBITS holders.

OpenLedger is still in the very early days of its development. As more ecosystems and projects emerge, one can only expect for OBITS to continue to gain value. This is particularly the case as it is already reducing its total supply every month from continued buybacks and generated revenue.

In my opinion, one project to keep an eye on is the soon to be released platform of OCASH. OCASH should allow for crypto-investors to begin using stable coins like those traded on the OpenLedger DEX to buy goods in the real world. In doing so, the platform allows for a stable exit for investors using readily accepted fiat currencies. Stay tuned.