Friday, October 13, 2017

Globitex (GBX) - Linking Digital Currency to Global Trade

GBX token will serve the primary purpose of a means of settlement of trades on the Globitex exchange, serving as a commission payment token, as well as used within loyalty programs. Redeemed GBX Tokens are intended to be burned and therefore permanently removed from circulation.

GBX Tokens will be usable to cover commission payments for the trades made on the Globitex platform. All registered clients of the Globitex exchange will be able to redeem GBX tokens as payment for commissions. Initially the tokens will be subject to a significant premium of no less than 20%. For example, at a price of GBX 1 = EUR 0.1, the client opting to use GBX as payment for trades will be able to enjoy the following bonus: GBX 1 = EUR 0.1 + 20%. Over time, depending on overall Company’s success, the bonus will largely increase in order to stimulate widespread utilisation of GBX tokens for trade settlement.

Furthermore,   Globitex will offer other Company success-related member loyalty programs to reward its clients and token holders during the GBX Token lifetime.

Overall, GBX Token is expected to have a 10 year lifetime, during which time, tokens can be redeemed, loyalty programs and other success-related benefits enacted. After 10 years will have elapsed, the Company will review the GBX Token program and make the necessary adjustments on continuation of the program.

Token/Cryptocurrency Index Futures
Likewise, as the overall market for tokens and cryptocurrencies develops and becomes more sophisticated, Globitex will be in a position to standardise a relevant selection of tokens and cryptocurrencies into indices. Such indices will function much like traditional equity indices, for which there will also be a standardised futures market, provided by Globitex.

If one were to effectively purchase a shipload of coffee in Bitcoin, one would need first convert one’s Bitcoin to US Dollars, and then enter a forward or futures trade with physical settlement. This transaction would favour the USD fiat currency by demand directed towards conversion and then settlement for the trade and delivery. If however, commodities had a direct pricing mechanism for Bitcoin on an organised exchange, it would diminish demand for fiat currency and therefore increase demand and subsequently liquidity for Bitcoin as a currency and unit of account. By allowing Bitcoin to be used as a medium of exchange on Globitex for global trade scale consumption and production of goods, such as commodities, it will strengthen Bitcoin’s relevance as a currency or unit of account globally.

The Core System
The Core System consists of a set of services that ensure the operation of the exchange. The central components of the Core System are the Risk Management System, the Order Matching Engine, the Clearing and Settlement System, and the Data Feed Services. To handle high system loads and ensure fault tolerance, the Core System is designed to be modular, redundant, and CPU cycle and cache efficient. The system relies on advanced queuing and messaging techniques to achieve the highest throughputs with the lowest

Token Details
Token name: Globitex Token
Token symbol: GBX
Token lifetime: 10 years (subject to extension)
Token execution environment: Ethereum platform
Token standard: Ethereum EIP-20 (previously known as ERC-20) compliant smart contract
Token decimal units: 8
Token sales currencies: Ether (ETH), Bitcoin (XBT), Bitcoin Cash (BCH) 
Token emission standard price: GBX 1 = EUR 0.10
Minimum sales target incl. pre-sale: EUR 1,000,000.00

  • Stage I sales target: GBX 50,000,000 
  • Stage II sales target: GBX 150,000,000 (Stage I + GBX 100,000,000) 
  • Stage III sales target: GBX 500,000,000 (Stage I + Stage II + GBX 350,000,000)  

Soft cap: GBX 500,000,000 
Minimum purchase amount: GBX 100 
Sales start date: 08.11.2017 12:00 UTC 
Sales end date: 07.12.2017 17:00 UTC or 72 hours after the soft cap has been reached 

More Info 
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Author : mriansa;u=886049
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