While I am fond of cryptocurrency, and the technologies that provide it, I have visited many times the idea of how my hobby will be regulated by the state in which I live, how to pay taxes, and be fairly honest in their understanding. And if I do this, how will the state protect me with my investments? These thoughts visit me every day, in my head I scroll through the options of tax schemes that would suit me as an investor. But we are not all as smoothly as we would like.
In trying to find out how and where the crypto regulation by law, I roam the Internet for hours studying the math part, because this question will sooner or later catch up with everyone, and is always run will not be possible. Many countries are trying to make attempts to resolve the legal norms in the crypto currency community, but they do not succeed, or they tighten the nuts to such that one thought about this area is not profitable, or they are so superficially suited to this, that you begin to wonder how such laws can be considered at all, and even more so to apply.
In the course of my analysis of the countries where there is a favorable perception of cryptocurrency, I identified 3 countries that are successfully developing in this direction: Japan, Switzerland and Gibraltar. To study their basic legal norms I have not yet had time, only superficially, but I plan to do it soon. I am pleased that if you have in these countries accounts in banks or cryptocurrency assets on accredited exchanges, in the event of theft of your funds, you will be in the jurisdiction of the law, and this situation will be investigated at the state level, which gives little confidence in the safety of funds, and the status of the exchange as a whole.
My recent attention was caught by one company of the upcoming ICO which is successfully deployed in Gibraltar, in the legal jurisdiction of the country. The project called Gibraltar Blockchain Exchange (GBX), the most interesting thing that Gibraltar is in the jurisdiction of the United Kingdom, and is investigative is a full member of the European Union. I note that the GBX is a subsidiary arising from the Gibraltar Stock Exchange. Taking into account the success and rich experience in the capital markets of the parent organization, there is no doubt that the project will receive good potential for development and growth on a global scale.
The Advantages Of The Gibraltar Stock Exchange:
Gibraltar Blockchain Exchange is not created like all exchanges, the basic principles of which will be:
Security: Based on the ideals of public consensus and community trust in General, a rigorous GBX listing process will enable the community to flourish and evolve rapidly, protecting participants who have undergone the AML / KYC procedure (Know your customer, verification, user identification in the system) using best practices and corporate standards.
Transparency: the Basic principle of trust throughout the crypto community. GBX encourages confidentiality, trust and liquidity among all participants. That will allow to form a transparent and energetic future for the whole community.
Availability: GBX will give the international portal on blockchain-based regulatory framework the Government of Gibraltar.
One of the strategically important tasks that the exchange is going to solve is a comprehensive listing process. Which takes on a lot of instances of access control companies to listing in the GBX system. A number of authorities exist to implement such a plan.
Alliance
But this is just the tip of the iceberg, the main asset will develop in the internal Alliance of the exchange itself. On the basis of GBX, an international forum will be created from different layers of communities, for a clearer formation and understanding of the Alliance. It will include the best minds and the ideological inspirer of the whole community of crypto industry as a whole. Such a practice would serve to advance Gibraltar’s development of a centre of excellence and the development of legal instruments related to the blockchain industry as a whole.
Council
Of the educated members of the Alliance will be selected by the Council GBX. Whose role, providing feedback, development of regulations and standards for listing and trade tokens, as well as the development and addition of rules. The Council itself is independent, and will never be dependent on sponsors, which will give a fair assessment and impartiality in all matters.
Sponsorship firms
In fact, these are the mentors who will conduct this or that business in all stages of listing on GBX, this should ensure the quality and give the best practical support. Corporate managers and companies themselves who have sufficient industry experience to satisfy GBX. Sponsorship firms will be included in the Gibraltar Blockchain Exchange network of trusted partners.
The Protocol of listing the tokens
As a rule, few people check the quality of an ICO — and its token as a whole, the security or quality assurance of the claimed technology or business as an element.
For listing on the GBX will be developed to high standards of quality and safety of the project, consisting of at least three points:
To issue a token, the candidate must state the essence of the project and prove its viability, justify the concept, this will allow to enlist the support of the sponsorship firm.
The sponsor firm prepares a token for consideration of the application, based on the guidelines and codes of conduct developed and established by the GBX Council. Such a mechanism of sponsorship control and sponsorship will further increase the liquidity of candidates.
Gibraltar Blockchain Exchange — makes the final decision on the basis of reviews corresponding to regulatory frameworks, as a consequence, successful tokens will be admitted for turnover in the secondary market.
Thanks to such a strict selection, the crypto industry community will receive a high-quality list of liquid projects and tokens, as well as new opportunities for the development of the entire community.
Analysis of the Gibraltar Blockchain Exchange ecosystem and ways of its development.
The first stage of the project GBX:
The creation of a global platform for licensee and exchange cryptocurrency
GBX is aimed at creating a white list of projects (tokens) and investors. Such a selection procedure will eliminate low-quality and risky projects, and will not allow unscrupulous market participants to participate. In the selection process, KYC and AML procedures will be mandatory for all participants. They will note the possible problems of money laundering in the crypto community within the exchange itself and will allow the industry to develop honestly. GBX will also provide a centralized cryptocurrency exchange, providing liquidity and quality. Multi-level protection and insurance systems will be applied at all stages. Undoubtedly, such a system promises a carefree and secure cryptocurrency trading to all participants.
Second stage of GBX project:
Blockchain based stock exchange
The GBX project is going to become a bridge between the world of foreign exchange and the world of real (Fiat money), in addition to the bridge to exchange functions, GBX together with GSX are going to open up new opportunities to attract more capital for projects, providing double listing on both GBX and GSX exchanges. As crypto startups grow, they will have access to new investment resources, where their listing will attract new funds for business development. The company, which will receive a passport with a project GSX will have the opportunity to raise funds from other European stock exchanges.
The third stage of the project GBX:
The creation of an integrated platform for the crypto markets
The GBX and GSX tandem ecosystem plans to cover the full range of additional financial services, from banking and asset management, to company creation and control over their financial portfolios. Optimize multiple asset transfers in a global network of stock exchanges. Thanks to blockchain and innovations in the field of Finance, GBX opportunities are endless, which will undoubtedly give a good example of how a developed economic market should develop.
The service pack will look like this:
*Platform for the sale of tokens
*Cryptocurrency exchange
*Services Fund
*Corporate services
*Electronic money
*Business solution
The entire ecosystem will be provided with its cryptocurrency, which will be used in all internal services.
*Membership in the GBX ecosystem
*Listing and fees of sponsors on GBX / GSX
*Sponsor / location of the Issuer
*Trading fees (Commission of the exchange)
*Early access for tokens sales on the GBX
*Exclusive discount
*Vote for the individual events community
*Awarding a positive contribution to the GBX Alliance community
*Blockchain innovation center campaigns and awards
*Environment for a full range of professional services of the group
Map of possible Rock Token interactions
Rock Token Utility Explained
The properties of the Rock token.
Undoubtedly, such a tool will be useful and important in the development of the community, but not as important as the idea of the team that will build the ideology of the project in life…
Project team.
GBX is headed by the Director and founder of Nick Cowan LiN, has 35 years of experience in managing capital and markets.
More important for the GBX project is a team of partners that is widely known in the blockchain sector, each partner has more than one project in the industry.
Project partner
How to become a part of the project and take part in a significant event for the crypto industry as a whole.
GBX team conducts ICO to raise funds for the implementation and development of the project, to participate in it can absolutely anyone, if his right to participate is not limited by the laws of the country in which he lives. Each participant will receive a Rock tokens GBX project, which will give some opportunities to their holders when working with the entire system.
All the essential links for consultation, I will leave here:
WebSite: https://gbx.gi/
WhitePaper: https://gbx.gi/token-sales/GBX-Whitepaper.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2684176.0
Twitter: https://twitter.com/GibBlockEx
Telegram: https://t.me/GBXCommunity
On my own, I can add, as a crypto enthusiast and a person who is worried about the blockchain industry as a whole, that such a project will whitewash the entire system that is just beginning to find its face, will give guarantees and a quiet sleep in relation to guaranteed protected tools for interaction with the investment portfolios of cryptocurrencies and tokens companies.
PS: I’m for the project, and support it at the start!