The popular Gibraltar Blockchain Exchange – or GBX – is a token exchange platform that describes itself as a ‘world-leading institutional-grade token sale platform.’ The exchange also claims to be ‘built upon principles of decentralization and community consensus.’
GBX describes itself as a ‘crypto exchange unlike any other.’ The platform is actually a subsidiary of the Gibraltar Stock Exchange, a European Union-regulated stock exchange platform. That exchange (Gibraltar’s first stock platform) launched back in 2015, and a few years later, the stock exchange announced its intentions to use blockchain for a payment and settlement system. The company introduced its Gibraltar Blockchain Exchange platform to the world in August 2017, and during the following months, the firm took part in blockchain conferences around the world to make the exchange known.
How Does Gibraltar Blockchain Exchange Work?
There are numerous other cryptocurrency exchange platforms on the market today, so why do we need yet another exchange?
Gibraltar Blockchain Exchange intends to create a system that’s ideal for traditional investors. The developers’ aim was to create a cryptocurrency exchange that functions similar to a stock exchange platform. However, rather than listing any coins, for instance, GBX’s team wanted to actively vet new coins to make sure the investors are safe at all times. The ultimate goal is to ‘create a harbor for investors who are too nervous to brave the uncharted waters of the crypto markets.’
Simply put, the unique selling attribute of Gibraltar Blockchain Exchange is that it will thoroughly analyze new coins before adding them to the listing on the platform. A group called the GBX Alliance is set to form a consensus about each asset before having it listed on the website.
Other key features include assiduous whitelisting procedures and an innovative sponsor staking system. The investor pool is set to consist exclusively of KYC- or AML-cleared investors, which, overall, makes the exchange platform ‘the future of cryptocurrency trading.’ Lastly, the ecosystem revolves around an in-platform cryptocurrency called the Rock Token, or RKT.
How Does GBX’s Rock Token (RKT) Work?
The Rock Token (RKT) is the native currency for transactions, listings, and numerous other functions on the Gibraltar Blockchain Exchange platform. The token is the medium of exchange and the utility asset that powers the GBX/GSX ecosystem.
Some key features and functionalities of the token include:
- Pay for membership and management within the Gibraltar Blockchain Exchange platform
- Pay for sponsorships, listings, and fees on GBX
- Have access to banking services, including an order book for trading and acquire offline custodianship
- Vote on particular community developments
The token on the Gibraltar Blockchain Exchange platform has since undergone a one-to-one swap to the STACS token.
Gibraltar Blockchain Exchange vs. Gibraltar Stock Exchange
The Gibraltar Blockchain Exchange is called the GBX, while the Gibraltar Stock Exchange is referred to as GSX. The stock exchange platform was established back in 2014 and began to operate at full capacity in the first quarter of 2015. The platform is the first fully-licensed exchange in Gibraltar.
With the Gibraltar Blockchain Exchange, the company tries to expand in order to offer a curated selection of crypto coins and digital coins. At the same time, the stock exchange platform is meant to ‘fully integrate’ blockchain into its trading and settlement systems. So, basically, the stock exchange’s purpose is to embrace both cryptocurrencies and blockchain technology.
The Bottom Line
In conclusion, Gibraltar Stock Exchange – GSE – is Gibraltar’s first stock exchange platform, while Gibraltar Blockchain Exchange – GBX – is a separate trading platform for cryptocurrencies.
The Gibraltar Blockchain Exchange’s website lists a few reputable partners such as Kenetic Capital, PWC, Blockchain Lab, and BlockchainWorx.
The tiny country of Gibraltar has definitely taken a major role in the crypto community throughout the years. The British protectorate signed deals with numerous crypto startups just a while ago to launch a blockchain exchange platform on its shores. Then, it pushed strenuously to attract crypto startup businesses to its blockchain exchange and platforms.
Here are some of the most popular and reliable crypto companies and platforms in Gibraltar you should get to know.
Gibraltar Blockchain Exchange
Released in collaboration with the Gibraltar government, the Gibraltar Blockchain Exchange is the British territory’s first digital asset exchange platform and token sale website. Its native cryptocurrency is the Rock Token (RKT), with 60 million tokens worth approximately $6 million during GBX’s first token sale.
The platform runs under the Distributed Ledger Technology (DLT) regulations created by Gibraltar’s government and is a Gibraltar Stock Exchange subsidiary. The platform made headlines when it revealed the ICO TradeTo, the first token sale on GBX. The exchange is also actively racing other crypto exchange platforms in an attempt to become one of the leading token sale websites in Europe.
Acorn Collective is another Gibraltar-based business that’s trying to transform the space of crowdfunding by utilizing crypto and blockchain technology. Created and developed by a team of entrepreneurs, the platform allows anyone to offer equity in their project or firm in the form of tokens. The startup was launched in mid-2017 and has an active role in Gibraltar’s expanding crypto community. Besides being a crowdfunding platform, Acorn also provides legal and advisory services to any company raising funding via its platform.
Gibraltar-based ConnectJob is a business that’s impacting the global gig economy because of its blockchain-powered labor platform, which enables users to get rewarded in cryptocurrency in exchange for carrying out various tasks. The Ethereum-based platform launched back in 2017 and revealed its public ICO, raising over $7 million to fund the development of its service.
On ConnectJob, every engagement is linked to a smart contract, which tracks the history of each job in a clear and secure manner. After successfully completing jibs, users are rewarded in CJT tokens, which can be exchanged for fiat money.
A blockchain-based media streaming service, Current gives its users possibilities in how they want to pay for their streaming options. Current merges functionality from all popular streaming platforms, including YouTube, Spotify, and others in one place, and rewards users for streaming content and data they share, which is then shared with third-parties.
After streaming, users can get rewarded with CRNC tokens – the platform’s native currency – which can be exchanged for other crypto coins. The platform has a top-end advisory board as well, which include entrepreneur Mark Cuban and VC investor Sten Laureyssens.
MediBloc is attempting to disrupt the traditional healthcare space by using a collaborative, blockchain-powered data-sharing platform. The service allows users to sell their health data to scientists around the world and get rewarded in MED tokens, which are listed on a few cryptocurrency exchanges worldwide.
Moreover, patients have complete access and control over their information and are able to choose which pieces of their healthcare identity are shared with care providers and issuers. Based in Gibraltar, the service is actively targeting Asia for its first stage of development and has established partnerships with a few medical institutions across the continent to enable access to its platform information.
The Bottom Line
Gibraltar was one of the first states to have successfully passed legislation regarding cryptocurrency. This regulatory certainty is encouraging more entrepreneurs to shift their crypto services, platforms, and operations in Gibraltar.