Gibraltar Blockchain News
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Business News
    • Ethereum News
    • Litecoin News
    • Ripple News
    • Technology News
  • Industry
    • Regulation
  • Markets
    • Market News
  • Tutorials
  • Advertise
    Home / Blog Archive / News / Blockchain News / Gibraltar Blockchain Exchange (GBX) – What it is and How Does it Work?
Blockchain News Business News
February 18, 2021
Share this:
  • Facebook
  • Twitter
  • Google Plus
  • Pinterest
  • Email to a Friend

Gibraltar Blockchain Exchange (GBX) – What it is and How Does it Work?

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.

Previous Post
5 Crypto Platforms Based in Gibraltar You Need to Know Of
Next Post
Gibraltar's Crypto Funds Regulations and Intentions

Leave a Reply - Cancel reply

Your email address will not be published. Required fields are marked (required)

Converter
Categories
  • Blockchain News
  • Business News
  • Ethereum News
  • News
  • Technology News
Calendar
February 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
« May   Mar »
Gibraltar Blockchain News
  • Write for Us
  • Terms & Conditions
  • Privacy Policy
  • Contact
About

The Gibraltar Blockchain news blog and investment strategy guide. All you need to know about ICOs, education, reviews, mining, and more.

Categories
  • Blockchain News
  • Business News
  • Ethereum News
  • News
  • Technology News
ADVERTISEMENT
Copyright © 2021. Gibraltar Blockchain News. All Rights Reserved.