Since
the invention of Bitcoin in 2008, the ideas of decentralization, public
consensus and creating new trust models between parties conducting transactions
has been embraced. Principles of consensus, efficiency and mutual trust are
treasured by the community, as demonstrated by the rapid adoption of blockchain
technology, cryptocurrencies and other digital assets by both businesses and
individuals in numerous jurisdictions globally. Token sales have captured imaginations, giving
rise to a wide range of innovative new projects and generating unexpectedly
large amounts of funds. Till date, over USD $3.4 billion has been raised via
token sales . The flexibility and speed to market of token sales has created a
fundamental change in fund raising, however, it comes with several associated
risks. Governments and regulators around the world have struggled to find a
solution for dealing with fund raising via token issuance without inhibiting
business or the development of new technology. At a high level, we can categorize
three types of digital assets as follows: (1) medium of exchange digital assets (2) utility tokens (3) tokenized
securities. Digital assets can
also serve as digital representations of tangible assets. There are also
various other possible types of digital assets and more will undoubtedly
emerge. Read more on https://gbx.gi. On 12 October 2017, HM
Government of Gibraltar published the DLT Regulations. DLT Regulations came
into operation on 1 January 2018. When establishing the regulatory framework,
HM Government of Gibraltar recognized that it should be flexible to adapt to
new cases and new uses of DLT and that it needed to be able to be applied to a wide
variation of DLT firms and as such, the DLT Regulations are principles based as
opposed to being prescriptive. GBX is a member of the GSX group of companies,
of which GSX Group Limited is ultimate parent (“GSX Group”). GBX proposes to establish the Gibraltar Blockchain
Exchange (GBX) and seek approval from the Gibraltar regulator within
Gibraltar’s DLT regulatory framework. The
aim is for GBX to become a fully integrated utility token sale platform and
digital asset exchange (“GBX Market”)
licensed under the DLT regulations within the first half of 2018. GBX is in a
unique position to offer the GBX Market within the environment of a stock
exchange and therefore provide much needed anti money laundering and know your customer
(“AML/KYC”) standards, quality
control, accountability and transparency to the digital asset market. With the
corporate governance, management expertise and regulatory experience of the
GSX, GBX proposes to follow a similar governance and rules based system for
admission and trading of digital assets and cryptocurrencies. GBX is a
subsidiary of GSX. GSX operates the Gibraltar Stock Exchange, a regulated
market under European Union regulations and is also a member of both the
Hyperledger Alliance and the Ethereum Enterprise Alliance. GSX proposes to
provide a blockchain based exchange for capital markets and will aim to be the
world’s first stock exchange for tokenized securities (“GSX Tokenized Securities Exchange”) in other to provide a new
level of access, liquidity and transparency in the capital markets. GBX is
expected to be different from other participants within the token and digital
assets sector; in addition to operating the GBX Market and operating within the
GSX Group that has the GSX Tokenized Securities Exchange, it is also expected
to have a financial services and fintech ecosystem that will provide
professional services to support a full spectrum of market participants (“GBX Ecosystem”). GBX established the
GBX Blockchain Innovation Centre in September 2017 with the aim of supporting
blockchain businesses in Gibraltar. Rock Token will be structured as an ERC 20
compliant token that may be used by holders to access membership rights and use
it as the preferred medium of exchange throughout the GBX Market and the GBX Ecosystem
https://gbx.gi. GBX has a vision of establish a
market place for utility tokens and digital assets operating within Gibraltar’s
regulatory framework that is “first in
class”; create a high standard for entry and a controlled environment
with rules for admission and trading, with ongoing obligations and standards of
conduct, under the GBX Rules; implement an innovative staking mechanism,
ensuring all members have a shared ethos to grow a sustainable token and
digital asset exchange ecosystem within the DLT regulatory framework; https://gbx.gi By
operating at high standard and with token listing best practices, they are
confident of attracting the best quality token listings to GBX, which should in
turn attract the best quality of token buyers (both accredited and individual
buyers). They expect that this will result to quality in the ecosystem for token
buyers and token issuers with extensive global participation. The components of
the token sale platform include: database operation, token admission, token sale payment types, tracking performance, buyer deposits and withdrawals, AML/KYC
compliance, token buyer segmentation and security. GBX plays an important role in the global
blockchain community and Sponsors will form an integral part of such the role. Sponsors have a duty to uphold the quality,
reputation and integrity of the GBX Market. They will play a crucial role in maintaining
quality in the market and are responsible for critically assessing the appropriateness
of an Applicant for admission. Sponsors will be required to ensure the
Applicant meets the GBX eligibility criteria, if suitable for admission and to
assess the likelihood of an Applicant affecting the integrity and reputation of
GBX. GBX envisages establishing a
trusted network of Sponsors who will play a crucial role in maintaining the
quality of the GBX Market. GBX will set eligibility criteria and a code of
conduct with the aim of attracting world class and proven experts in the token
sale sector. GBX’s digital asset exchange is expected to connect buyers and
sellers in the secondary trading market to buy, sell or exchange digital assets
and cryptocurrencies for other digital assets and cryptocurrencies, or for fiat
currency, utilizing the single user sign on. The GSX Tokenized Securities
Exchange is planned to function as a transparent auditable ledger such that
participants will be a registered holder of a tokenized securities at every
stage of the trading process. This is by virtue of utilising the record keeping
functionality of DLT for the benefit of the exchange, issuers, the participants
and regulators alike. GBX envisages creating the GBX Ecosystem, a financial
services and fintech ecosystem with multiple products and services such as
Token Sale Platform, Digital Asset Exchange, Fund Services, Corporate Services,
Business Solution and E-Money Services. The GSX Tokenized Securities Exchange
and the GBX Ecosystem are expected to be built via a phased development
approach at appropriate intervals as and when technology and control systems
are developed, tested and approved for adoption and integration. http:www.gbx.gi. The GBX Alliance will be
formed from a cross section of the community with international participants as
well as those from Gibraltar. GBX established the GBX Blockchain Innovation
Centre on 18 September 2017. The GBX Blockchain Innovation Centre has been
established with the aim of enabling Gibraltar to be the world’s most connected
technology community by bringing customers together with fast growth technology
companies and world class talent whilst providing infrastructure support. The
aim is to create a centre for the blockchain community in Gibraltar, providing
a dynamic workspace, an active events calendar and world class facilities to help
businesses achieve their goal. Get more information on https://gbx.gi. The functioning of GBX, GSX and the GBX Ecosystem are proposed to
be supported by GBX’s utility token. The Rock Token is an ERC-20 compliant
token to be issued on the Ethereum blockchain to be used and accepted
throughout the GBX, GSX and GBX Ecosystem. The ERC-20 token standard prescribes
the functions that a token on the Ethereum blockchain should incorporate to
enable the issuance, distribution and control of tokens in a standardized
manner. It is a set of guidelines that a token issue contract should adhere to
in order to be compatible with most wallet software. The Rock Token contract
will adhere to the ERC-20 token standard by declaring six standardized function
names and two standardized event handles. This standardization makes it easy
for decentralized application developers to utilize Rock Token in the future
and ensure maximum exposure and adoption.
SALES TOKEN SUMMARY
Sellers:
GBX
Token Name:
Rock Token
Ticker:
RKT
Project Name: “Gibraltar Blockchain
Exchange” or “GBX”
Public sale Periods:
Early sales access starts 7th February 2018 and public sales token starts 8th
February 2018.
Total Token Supply: 900,000,000 RKT
Minimum Sales
Target: USD
$10,000,000
Token Price for
sale: USD $0.10
= 1 RKT
Accepted Payment
Method: USD, ETH
FOR
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