Token sales have boomed in 2017 and ICOs raised $3.7 billion dollars during that year. But the lack of regulation and uncertainty left room for exploitation and scams. As a response, different governments imposed regulations and bans.
The Gibraltar Blockchain Exchange (GBX) is different. It is the world’s first institutional great token sale platform and cryptocurrency exchange. The Gibraltar Blockchain and Cryptocurrency exchange is a subsidiary of the EU regulated Gibraltar Stock Exchange. That’s the first time that a cryptocurrency exchange will seek to adopt the governance of a regulated stock exchange and operate under a regulatory framework. More details you may find in their whitepaper
The GBX is expected to be a global listing and token sales springboard for utility tokens. These tokens must satisfy a strict admission process that is set out in the ‘GBX Rules’. In addition to it, the GBX is working to offer a high-quality digital asset exchange, including a marketplace where issuers of utility tokens, traders and investors can participate with confidence and trust.
Furthermore, the GBX will be a fully tokenized stock exchange providing a path from initial token sale to funding via traditional bond markets or equity issuances.
The ecosystem created by GBX’s team is aimed to traditional investors that would like to invest in the blockchain and cryptocurrency world. The market will not list every single coin available, but instead, a group of experts will deeply analyse which currencies will be available for the investors.
The RKT Token
The token proposed by the team is the Rock Token (RKT). It will be used in the GBX to have access to financial services and fintech ecosystem. The Rock Token will be structured as an ERC-20 compliant token that will be used to access membership rights and use it as the preferred medium of exchange throughout the GBX Market and the GBX Ecosystem.
There will be 900,000,000 Rock Tokens available that would be worth $0.1 USD Dollars each. The public token sale is scheduled for the first days of February. The Rock Token distribution will be as follows:
- 4% will be for the Token Sale
- 4% will be used as a reserve for further development and stability of the GBX ecosystem
- 5% will be for community development and liquidity.
- 13% will be distributed among early backers, partners and advisors.
- 7% will be reserved for the founders and the staff.
The proceeds from the token sale will be used to achieve the GBX vision and allocated as follows:
- 40% Technology and Liquidity
- 15% Marketing
- 13% Security
- 12% HR/Personnel
- 10% Capital Requirements
- 6% Licensing
- 4% e-money development
It’s important to mark that less than 15% of the tokens will be reserved for the team. This is a good proportion that does not centralizes the funds in just a few hands. Every $10 dollars spent, $1.4 go to the team members.
The team has an important experience in the stock market and has been working before in several projects related to the financial industry. That’s important knowing that some ICOs are starting without any background experience.
Nick Cowan is the founder of the Gibraltar Stock Exchange. He has 34 years of experience in capital markets, including being the head of Equities at ING Barings, managing up to 2,500 employees in 43 countries.
Adrian Hogg is the Group Chief Financial Officer. He has 20 years of experience in the financial sector. He has helped to establish the Gibraltar Stock Exchange and other institutions.
Other team members are William Rawley, Gorup Legal Counsel, Philip Young, Group Chief Marketing Officer, I-Wu Wang, Kai Jun Soh and Ta-Ming Chao Thomas. There are six key advisors that help the team taking important decisions. Additionally, the GBX team and project has some strategy advisors like Kenetic Capital, Krowd Mentor, Coinsilium, ISOLAS and others.
The team behind GBX has several years of experience in the financial field and perfectly knows how exchanges around the world work. This new ICO will try to shorten the gap between the traditional financial world and the cryptocurrency sphere.
The past experience of the key members of the team is more than welcomed. Additionally, the regulatory framework will help this ICO to succeed in a world that is moving towards a tokenized economy. Being under the regulation of the EU would reduce future regulatory problems and questions.
For more details you may check their social channels: