Introduction
What constitutes the price of a product? It is the value stored in it and demand in the market. This price varies as the demand varies for the product. It is what, that plays out each second on the trading exchanges. The management of demand for a product and price related to it are the key factors of a successful trading. The economy of a product takes positive shape as the demand grows in the market. New products are launched daily in the market, and not everyone survives the standard of the market. Companies and commodities have created a value chain in the market. We witness the launch of different companies and products in the market.
It is seldom that we see the launch of a new currency. But, what started as an open source project soon became a Multi-billion dollar market. The Digital currency or the cryptocurrency has become the source of excitement and opportunity for all the financial markets of the world. Its strength and price have risen like no other product in the market. The innate quality of cryptocurrency removes most of the weaknesses of the present financial market. It signifies the effect of technology which can bring tremendous change in the mala fide system. The rate of growth of cryptocurrency is stupendous. But, it lacks the capabilities for mass adoption.
The single most problem with cryptocurrency is lack of liquidity. The cash is what people have been using in the traditional market, and there is still a large fraction of the global population which uses only cash for all of their transactions. This is the major hindrance to the mass adoption of the cryptocurrencies. A comparison between Bitcoin payment and fiat currency payment reveals the truth of the matter. The Number of fiat currency based payment in 2016 was more than 9000 times the number of Bitcoin payment. If we compare the payment value between bitcoin and Fiat-based currency, this multiplier digit is more than 40,000.
These numbers paint a true and stark picture of the usage of cryptocurrency and fiat based currency. Bitcoin has the largest market capitalisation in the world compared to all the other cryptocurrencies. Still, there exists a vast gap between the usage of cryptocurrency and fiat based currency in the traditional market, and this leads to the limited contribution of cryptocurrency in the global economy. The potential of cryptocurrency has been limited since the required support system is not present to make it a globally accepted mainstream currency.
There is a need for a platform, which provides a support system for the scaling capability to the cryptocurrency. A platform for the next generation of financial technology with the integration capability to the Institutional platforms.
Solution Offered
Globitex is offering an institutional grade Bitcoin exchange, which allows direct market access to the algorithmic traders with the capability of FIX API connectivity. Currently, their platform is in beta testing phase and will be fully operational in 2018. The current trading pair is Bitcoin and Euro, but they plan to expand this to other major currency pairs.
They are planning to build cryptocurrency money market, which will solve the problem of liquidity in the cryptocurrency. Once the liquidity improves, they will allow standardised future and commodity market. As the bitcoin becomes the mainstream currency with the capabilities of surplus liquidity, it is bound to bring significant changes in the global market.
They are the firm believer in the power of Bitcoin and its capability to change the commodities market. The commodity market offers unlimited opportunities. Globitex aims to link commodity Spot and derivatives market to the bitcoin. A few of the steps required to set up the operations as visualised by the Globitex is mentioned below.
- Starting from Europe with the setup of cryptocurrency Spot Trading
- Obtain all the required regulatory & compliance licenses for their operation
- Setting up infrastructure for the cryptocurrency Derivative market
- Client Protection and Transparency Requirements
- Passporting Rights In the EU
The technology behind the Globitex platform is advanced and confirms to the best industry practices. Well-designed APIs, Customisable Web interface, Sophisticated reporting tools are some of the features of the Globitex Platform. Their technology can be divided into three layers.
- Frontline Module Layer, including connecting and networking Interface
- Core System Layer
- Backend Management System and Support Channel Layer
Globitex is the platform for Professional traders as well as retail investors. It will bring unprecedented changes in the different financial product by linking Bitcoin to it through its Exchange.
ICO Information
The Globitex token under the ticker GBX will be issued by the Globitex Private limited. It is incorporated in Gibraltar. They aim to use the funds to obtain the licenses and rights for operating as an exchange. The GBX token is an Ethereum EIP-20 compliant. One GBX token is equal to EURO 0.10. The 80% of total tokens will be sold to the Public.
They will also utilize the funds in the marketing and operational activities of the platform. They have divided their ICO into different stages. As they progress and offer new service on their Platform, they are going to conduct an ICO for it.
Conclusion
Globitex is aiming to build a platform for trade with cryptocurrency utilizing the traditional financial products of the market. It will be the platform for all the next generation Professional traders, who wish to leverage the unlimited potential of the cryptocurrency. We must be ready for the change in the global economy which will be transparent and secure.
Website : https://www.globitexico.com/
Whitepaper : https://www.globitexico.com/wp.pdf
Written by ollivander7
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616