[EN] Fast, efficient and scalable – APAsia.Tech expanding/rebuilding BitShares Decentralized Currency Exchange (DEX) in Thailand

in #news7 years ago (edited)

WHY? Because there’s always a better way!

BitShares platform (BTS) is truly great, with untold potential. Millions of dollars are trading daily on it. BitShares is being talked about online, nearly all positive. Yet it will only grow when the network exists for it to grow. There is a distinct lack of seed nodes, other nodes are down, or have high ping times and other issues. So, we thought the time to act, (from right here in Thailand no less) was as good as any.

Signup for a free bitshares account here

APAsia.Tech is a professional IT company dealing in managed hosting and web services, based in Thailand since 2014. So, what ended up happening amongst our combined posse? Some hungry, full stack developers and admins by day, got together and became crypto-passionate ambassadors by night. Like a skunkworks team, things came together around the APAsia.Tech campfire over beers and ribs. We already have the full stack development resources. We had blockchain projects live and others coming, as side-projects. Having already prototyped platforms and coins for months of trading –and frustrations –why not get involved in the decentralized business eco-system?

So we decided, APAsia.Tech will invest and pool resources into creating a decentralized cryptocurrency exchange (DEX) from Thailand, for Southeast Asia.

We are striving always to deliver the best in the long term. As such, this can become part of our growth journey. APAsia.Tech is a company that has always believed in building platforms for long term success, in a rapidly shifting technological future.

As of today, a master seed is open with a LifeTime paid up membership. All you have to do to join the ride is first register yourself an account with this link (free).

Tell me more about it

We are active traders, developers, IT specialists, and keeping a close eye on how technology is progressing for better solutions in the future. We are committed to blockchain technology for the long term, and creating open platforms that any entrepreneur or organization can utilize –when done through due procedures and certified polices. BitShares has been proven a ‘Clean Coin’ and is emerging as the go-to platform for releasing an ICO. Having become ourselves involved, we have now decided to do something for the BitShares community at large. We are going to run our own instance of the social network STEEM blockchain, and BitShares full node for Southeast Asia. Our node will be run with our hosting expertise, and we will be publishing all the details and follow along how-to guides, blog posts, and providing user support to grow and earn from sharing of transaction fees. As a full witness, we will grow more to develop also on the front-end world.

In the works are derivate/white label UI and apps for trading cryptocurrency on our DEX. (In a similar model such as previously by OpenLedger). Later to add automated support ticketing, local payment gateways, within our decentralized exchange and master node instance on the blockchain. Our aim is to finally open the doors for more entrepreneurs and businesses in Thailand and SEA, with decentralized technology enablement. Including for submitting, approving, and launching ICO tokens (user-issued assets), on our DEX, and available for trading. We have the means to bring blockchain technology to the startup and entrepreneur eco-system in Thailand and Southeast Asia. We are a Thai company that is 100% committed to bringing innovation, new technology, and smart digital solutions, aligned to “Thailand 4.0” policies for economic growth.

Imagine THB as a stable yet tradeable Cryptocurrency

BitShares is a decentralized exchange for Cryptocurrency, which has a unique advantage of something known as 'bitAssets'. These are type of digital token, or ‘SmartCoin’. They have values pegged and track their actual fiat currency counterpart value. This provides low cost trading and full protection from volatile price swings, whilst remaining liquid in local currency.

Along with our growth of the BitShares network, in due time and with backing we also have been readying the terms and process under which a bitTHB can be created on the bitshares network. We are discussing the gateway possibility with Thai banks, and they are welcome to contact us also. A Thai Baht smart coin would open new trading possibilities for Thai companies, in particular import/export to undertake business and transact in Bitcoin and easily convert to THB, instantly and at low fees.

Many thanks for reading this post and following our progress. We welcome your comments below or join our Discord chat server to ask any questions.

[Updated] Useful sources:

Keywords: bitshares, Thailand, dex, exchange, apasia.tech

[UPDATED] @xeroc - Please provide a contact for a discussion of potential collaboration.
[KR] https://steemit.com/kr/@apasia.tech/apasia-tech-dex

Fantastic choice! Bitshares DEX has been cranking for over three years and people are just starting to see it's full potential.

I would highly recommend contacting the TXSRB (https://www.txsrb.org/) for help with the compliance aspects for ICOs, Stokens (https://stokens.com/) to see if you can get any love from VC pools and George at Bitspark (https://bitspark.io/) to touch base on bitTHB. These three groups could massively accelerate your development cycle.

There is so much happening in Bitshares right now it is crazy!

And your timing is very, very astute. Centralized exchanges are going to become extinct and or so heavily regulated as to be useless for most crypto traders. Decentralized exchanges like Bitshares are the future!

Look forward to following your adventures!

@johnsmith - Many thanks for such valuable points! We will have in a day or two fully operational master node with no faucet for now. Parallel with this we are also boosting Steem Nodes in Thailand, so kinda hands are busy, but Ross ( @britcoins ) will tomorrow go step by step through your lovely guide and will provide some feedback on it definitely :)

Yeah, btw timing was accidental. We had plan to start this a month ago, but seems like it turns out its better we are a bit late :)



Many thanks @johnsmith and I have followed your advice, today dropping a line to the suggested contacts above. Will look forward to further advice and news from them will update in a later post. Your support and everyone on this post (we are in trending!), amazing reception to the idea, as such @murda-ra can be proud today as mastermind and CTO of the plan :)

Lots of great people involved in Bitshares that aren't caught up in the Bitcoin drama/power mongering. Bitshares seems to be closer to Bitcoin's original purpose - life, liberty and the pursuit of happiness without the vampire squid taking a big cut - than any other crypto out there. I hope you connect and can bring some Bitshares goodness to the Thai people!

Thanks again @johnsmith and that is aligned exactly to our thinking. The bitshares DEX brings a lot of crypto goodness to the world and that is also why we believe and want to be a part of it. As goes to vampire squid taking a big cut, I couldn't put it better than yourself but I'm sure our agro Serb nasty developer @murda-ra can come up with some 'thoughful' words about blood sucking vampire horror .... joke aside, it's time to drive a wooden stake into the heart of the master vampire (bitcoin)

@johnsmith - Pointing out George at BitSpark seem to be very valuable discussion at the moment :) Seems we are all very excited and ready "to fly" by joining THB to BitShares network as a Bit Asset. :)

Many thanks

Great to hear! George is a wonderful fellow who will change the world for many, many people by using Bitshares to exchange and transfer remittance funds. Given where you guys are located I suspect Bitspark and Apasia.tech can find a lot of common ground...

Sounds great but let me understand something, you want to build another bitshares dex with bts as the base currency? Or do you want to release your own token for your own separate project and only use the undrerlying tech? I would imagine that the former would greatly benefit the bts while the latter not so much

Hi @ravid, I am the owner and CEO of @apasia.tech
BTS stays the main currency and we will only submit and sponsor bitTHB to become official currency for the bitshares network regarding Thailand backed 1-1. Regarding tech is what we will improve is the faucet itself and maybe add the gateway for the Thai baht currency directly. We are currently syncing and operating under bitshares-core GitHub release.

Well then best of luck to all of you, great initiative indeed!

@ravid - as CTO of the company, i can say only this. We are not changing the Bitshares in any way. Only few improvements will be added to faucet (bitshares-ui) with pull requests towards original github release. You have to admit that switch button in openledger faucet between Basic & Advanced mode is quite catchy and useful especially for newbie accounts at the network. Few more things in UI/UX will be updated as improvements, and configuration of the server + blockchain itself will be updated since it's based on the same technology as SteemIt blockchain, but not being compiled/configured with same optimizations.


Watching the Trend, certainly will go for it.

Hi Guys, Glad to see you looking to expand the Bitshares platform and create your own business on top of a strong platform similar to what OpenLedger has achieved.

Another great project your might look to for inspiration is RuDEX ( @blockchained ) who is a Russian exchange that has launched in a similar manner and also launched their own RUBLE smartcoin which once it had been bootstrapped ownership was transferred to the Bitshares committee members and is now a regular smartcoin with full collateral backing.

Note sure if they have implemented FIAT pairings but would be great to see a THB on/off ramp!

@steempower - great to meet you here with all the details i've seen in your posts! Awesome work! The whole point was very simple. Thailand is operating under dodgy owned centralized exchange when it comes to THB / BTC and all operations regarding deposits of THB are being manually processed. As you said, regulations and governments... hardly in Thailand at least few more years. But BitAsset such as bitTHB should speed up things in our favor (Bitshares DEX) and open many more door around Thailand... I've spend last 4 months on Dan's work, and he left a treasure, but he left it in a mess... Luckily how i can see both blockchains were/and still are being saved by community (devs/admins) running it all even when it doesn't seems good at all.
I've personally as trader haven't moved this year more than BTS, OBITS, STEEM, BTC.
You can't follow all, you can't do all. Make a choice and hit it hard. No giving up, no regrets.

And far as RuDEX - very similar concept, just we are leaving completely BitShares logo, with possible addition to it Thailand/SE Asia and support will go through AP Asia Tech as custom support chat within faucet.

Fiat THB to Bitshares blockchain would be a great step for us as a company and Bitshares network in Thailand... We are talking about taking over from centralized local exchange instantly around 350 BTC daily trading, which is 1.2m USD in just BTC/THB. :)))

That's what we actually did with Steem and BitShares.



@apasia.tech Your website seems to be down at the moment :S

@cm-steem - We are transferring domain away from GoDaddy to our own registrar associated with enom. so everything is currently down related to apasia.tech

our domain http://apasia.tech is restored, email and all. In fact now the domain is hosted under our own servers and TLDR, no more Godaddy. The site itself is a transitional placeholder of content to be moved to fully optimized new pages that are currently taking 2nd priority to our nodes...will be done along with everything else in the list x)

The @OriginalWorks bot has determined this post by @apasia.tech to be original material and upvoted it!


To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!

For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by steemwalker from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

Coin Marketplace

STEEM 0.20
TRX 0.12
JST 0.028
BTC 66137.20
ETH 3543.37
USDT 1.00
SBD 2.56