ChainBLX Ledger

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  • marioortizmarioortiz Rep This User!
    a new claim has been added! it is claim # cla1564698803
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    claim has been flagged as The current solution is meant to be for companies which have low trading volume and/or already issued ERC20 tokens which are categorized as a stock or in risk in being categorized as a stock, hence already being on the blockchain with a limitation. Other corporations benefiting are small and medium companies wanting to gain access to investments over cryptocurrencies: Reg A, Reg D, and/or crowdfunding. Our systems limitation is currently only based on the speed of the Ethereum blockchain and the volume and capacity given in the blockchain. Of course, while blockchain develops increased maturity, other blockchains will be integrated in the system as well as self-developed side chains, including our own subchains as described in the ChainBLX whitepaper for trading. (https://chainblx.io/index.php?p=/discussion/114/chainblx-business-plan-overview#latest ) As it is mentioned in our case study examples (https://chainblx.io/index.php?p=/discussion/324/chainblx-ledger#latest ), we speak about problems which we solve from companies in early and mid-stages. If we consider companies which are already traded, a seamless integration as provided in our whitepaper will be possible. So, to be clear, if right now the top S&P 500 companies would change to this ledger system, the Ethereum blockchain would not be able to handle the trading volume. But this being said, the ledger product would be then handled in a way which is described in our whitepaper. Where day trading would be going off-chain with the possibility to converge as for the user’s sole discretion on-chain. Regarding the case studies, the problems in the case studies, focus on small to mid-size companies not for the top traded companies in the world. That being said, from different development projects, it seems to our personal opinion that decentralized full comprehensive such trading platform is only 3-5 years away. Plus, thus also such blockchains will be developed, when those blockchains are ready, the basic ledger functionalities we proposed to be implemented. Regarding your question on legal compliance, we programmed our system so that it could be compliant in multiple jurisdictions with the ability for companies to customize according to their needs. Fulfilling such compliances is eased through our system but still the responsibility lies on the company. Therefore, everyone should receive advice from their attorney if our product should be used in the applicable jurisdiction. For example, Microsoft Word including spell-check. Which surely assists attorneys to prepare legal contracts. The validity of such contracts is still up to the user. QuickBooks/SAP surely helps accountants but does not necessarily ensure that the accounting is done legally correct. Regarding your question about pricing, in our main paper we propose a pricing model which is percentage based per transaction. The proposed pricing structure is obsolete. ChainBLX will charge a tiered fee in the case if tokens have to be created over us, otherwise a flat fee per transaction which is discounted over 80% compared to fees currently charged from wholesale retailers like e-trade, Charles Schwab, Ameritrade etc. For further reference we encourage you to research legal dark pool trading which shows how major institutions switches their stock positions between each other after market to avoid negative influences in the stock market. We rely on a peer-to-peer network to jumpstart it, as well as later on as trust and security is the main concern. We thank you for this inquiry and also, we don’t believe that your inquiry will not fulfill the requirements for a claim but as it is helpful for the consumers, we kindly ask the juror/s reviewing this claim to award around 5% of bounty. Of course, as we speak as ChainBLX, the randomly selected jury is absolutely free to offer more or less bounty as it is their decision.


  • edgardoedgardo Rep This User!

    The current solution is meant to be for companies which have low trading volume and/or already issued ERC20 tokens which are categorized as a stock or in risk in being categorized as a stock, hence already being on the blockchain with a limitation. Other corporations benefiting are small and medium companies wanting to gain access to investments over cryptocurrencies: Reg A, Reg D, and/or crowdfunding. Our systems limitation is currently only based on the speed of the Ethereum blockchain and the volume and capacity given in the blockchain. Of course, while blockchain develops increased maturity, other blockchains will be integrated in the system as well as self-developed side chains, including our own subchains as described in the ChainBLX whitepaper for trading. (https://chainblx.io/index.php?p=/discussion/114/chainblx-business-plan-overview#latest
    )

    As it is mentioned in our case study examples (https://chainblx.io/index.php?p=/discussion/324/chainblx-ledger#latest
    ), we speak about problems which we solve from companies in early and mid-stages. If we consider companies which are already traded, a seamless integration as provided in our whitepaper will be possible. So, to be clear, if right now the top S&P 500 companies would change to this ledger system, the Ethereum blockchain would not be able to handle the trading volume. But this being said, the ledger product would be then handled in a way which is described in our whitepaper. Where day trading would be going off-chain with the possibility to converge as for the user’s sole discretion on-chain. Regarding the case studies, the problems in the case studies, focus on small to mid-size companies not for the top traded companies in the world.

    That being said, from different development projects, it seems to our personal opinion that decentralized full comprehensive such trading platform is only 3-5 years away. Plus, thus also such blockchains will be developed, when those blockchains are ready, the basic ledger functionalities we proposed to be implemented.

    Regarding your question on legal compliance, we programmed our system so that it could be compliant in multiple jurisdictions with the ability for companies to customize according to their needs. Fulfilling such compliances is eased through our system but still the responsibility lies on the company. Therefore, everyone should receive advice from their attorney if our product should be used in the applicable jurisdiction. For example, Microsoft Word including spell-check. Which surely assists attorneys to prepare legal contracts. The validity of such contracts is still up to the user. QuickBooks/SAP surely helps accountants but does not necessarily ensure that the accounting is done legally correct.

    Regarding your question about pricing, in our main paper we propose a pricing model which is percentage based per transaction. The proposed pricing structure is obsolete. ChainBLX will charge a tiered fee in the case if tokens have to be created over us, otherwise a flat fee per transaction which is discounted over 80% compared to fees currently charged from wholesale retailers like e-trade, Charles Schwab, Ameritrade etc. For further reference we encourage you to research legal dark pool trading which shows how major institutions switches their stock positions between each other after market to avoid negative influences in the stock market.

    We rely on a peer-to-peer network to jumpstart it, as well as later on as trust and security is the main concern.

    We thank you for this inquiry and also, we don’t believe that your inquiry will not fulfill the requirements for a claim but as it is helpful for the consumers, we kindly ask the juror/s reviewing this claim to award around 5% of bounty. Of course, as we speak as ChainBLX, the randomly selected jury is absolutely free to offer more or less bounty as it is their decision.

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  • karlkarl Rep This User!

    Thanks Edgardo for answering

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  • karlkarl Rep This User!

    BTW the ledger will be available August 15, 2019

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  • marioortizmarioortiz Rep This User!

    Thank you for the clear and concise comment, Edgardo. I am glad to have found this platform to find areas of opportunity in current projects, and an encouraging atmosphere to do so. That in itself is a great achievement.

    I wish you both the best next week, and feel free to contact me.

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