Globitex - Connecting digital currency with world trade

November 26, 2017

Bitcoin and cryptocurrencies based on the Bitcoin protocol are preserved. Essentially, the Bitcoin protocol has the right formula to become a universally accepted universal currency. Bitcoin already works as a value store and exchange medium. However, in order to gain in importance as an account unit in global trade, it is necessary to scale both technically and economically.

What is Globitex?

Globitex is an institutional-class bitcoin exchange with fully functional FIX API connectivity that provides direct market access to algorithmic traders. Launched in the summer of 2017 as a working prototype, it will be tested in a limited beta mode and should be opened in early 2018.
After building exchanges to meet the needs of sophisticated institutional clients, we now operate Globitex from the beginning to enable the exchange of trading partners Bitcoin and Euro on a secure and established platform. However, building Globitex for the future requires handling one of the major issues Bitcoin faces: its liquidity or its current shortcomings.

Therefore, one of the first goals of Globitex is to bring another important currency pair to the market. Extend the Bitcoin FX order book to enable immediate trading, deposits and withdrawals in the world's major currencies. The next step is the development of a kriptocurrency money market, where qualified market participants can lend their assets over a certain period of time by setting market-based interest rates.

The development of the Bitcoin money market will be an important catalyst in increasing liquidity and matching Bitcoin's supply and demand on the spot market, as well as future timeframes, and possibly turning it into the most liquid currency.

As Bitcoin's liquidity grows and large orders can easily be absorbed, Globitex will then activate a standard list of commodity futures and options in an open order book. Derivative contracts are physically transferred and exchanged into bitcoin as the base currency. For example, counterparties in derivative contracts may exchange physical commodities (crude oil, aviation fuel, gold, silver, copper, corn, etc.) for a set of Bitcoins upon conclusion of the contract or opt against physical commodities. instead shipping and billing in Bitcoin.

By replacing Globitex with the global spot and derivative business, manufacturers can purchase Bitcoin-listed products. Trading companies and speculators can also hedge their risks in Bitcoin through derivative contracts. Thus, scaling will benefit the Bitcoin Globalitex Exchange and promote its development as a suitable medium of exchange to facilitate global trade and overcome geographic, political or monetary constraints.

Business development phase

To achieve these goals, Globitex proposes a sales token that includes the issue and distribution of tokens GBX. Token sales will be phased in, demonstrating the commitment of the Globitex team to specific business objectives.

This goal is divided into three main sections. Each section requires a number of tokens of GBXs sold, which in turn releases the results needed to go through the stages of development specified here.

First level: Spot FX and REPO

The token is expected to be sold: 10,000,000-50,000,000 GBX
Scale Spot FX, where Bitcoin can trade against Major Fiat and other crypto options
Apply FX - REPO trading margin ability
Second stage: BIBOR, money market and derivatives
Expected tokens sold: 50,000,000-150,000,000 GBX
Develop a money market Bitcoin - BIBOR
Create a list of commodity futures and cash options
List of future cryptocurrencies, swaps and options
Third phase: GCOM Commodity Index and physical commodities
The token is expected to sell 150,000,000-500,000,000 GBX
Lists Bitcoin with Commodity Price on Globitex - GCOM
Facilitating the physical delivery of precious metals futures contracts
Next develops warehousing infrastructure and expands spot commodities
Details on token sales
Token Sales Schedule: 8th November - 7th December 2017
Purchase of tokens: Ethereum, Bitcoin, Bitcoin Cash
Token Price: 1 GBX = EUR 0.10
Bonus: 5% - 15%
Total supply token: 500,000,000 GBX

Team