While Danish crypto currency exchange CCEDK has signalled that it is to become a hub for a series of “diverse projects” and services, with the current trading engine ceasing for good this May, investors should not panic as the shutdown will allow the exchange to initiate a major upgrade. Once revamped it relaunches as a Decentralized Conglomerate on 1 July - aka an enterprise ecosystem engine.
But you might ask what does this overhaul involve exactly? Well, CCEDK (now named Crypto Coins Enterprise Denmark) will transition from operating as an exchange to becoming the service and education center for the OpenLedger platform, which will effectively serve as a decentralized exchange (DEX) based on assets, smart coins and smarts contracts.
Crowdfunded Projects
The pioneers behind this latest move explain that it will include helping start-ups and businesses create digital tokens to crowd-fund new projects and simultaneously assist in what is described as assisting “digital currency cross the mass adoption” threshold.
As the crowd-funding process is discriminatory - not only due to selection from a vetting perspective - but also due to market demand, the team behind CCEDK’s new endeavour indicates that it will only be focusing on two crowd-funding campaigns per month.
Bitcoin medals on display in Washington, DC. Bitcoin uses peer-to-peer (P2P) technology to operate... [+] with no central authority or banks. Managing transactions and the issuing of bitcoins is carried out collectively by the network. (Photo: Karen Bleier/AFP/Getty Images).
The DAO Hub
One might think that all this talk about crowd funding in the cryto currency arena is mumbo jumbo. Well, think again and reflect on the fact that The DAO had raised an equivalent of over US$106 million (m) to date in a crowdsale of their token in the past two weeks and smashed it. This figure is based on 10.53m Ethereum (ETH) at an indicative price of $10.12 per ETH unit (0.02215930 Bitcoin (BTC) equivalent) at the end of this past week.
However, with twelve days still remaining until May 28 (09:00 GMT) in the project’s fund raising, one wonders just how much more this figure will swell to. Thus far a not inconsiderable 1,052.5m DAO tokens have been created. And, when The DAO receives ETH, new DAO tokens are created at that moment.
Exchange Upgrade
A white paper to describe the organizational structure and operation flow behind CCDEK’s overhaul is currently in the process of being prepared by Larry Christopher Bates, Bitland Global’s chief security officer based in Indiana, who has Master’s degrees in cyber security and telecommunications.
It is understood that Bates, who has also written about the theoretical application of the blockchain on the global economy, will present a “theoretical construct” for a new model of economic ecosystem that is built on OpenLedger and guided by CCEDK.
Withdrawals from CCDEK will nevertheless unaffected during the upgrade period and possible throughout June 2016 upon request - as well as afterwards.
Thereafter, on 1 July 2016 when the exchange re-opens, CCEDK will serve as a portal for OpenLedger and as what is being described as “an investment knowledge hub” for the so-called Decentralized Conglomerate, which currently includes OpenLedger, Obits, blockchain-advertisting network BitTeaser plus other blockchain-based projects.
The Decentralized Conglomerate
It was back in March 2016 on Forbes that I explored themes around bitcoin, the blockchain and the future of newly coined term the Decentralized Conglomerate (DC). The latter is effectively a new form of partnership and touted as the “cutting-edge” method to building communities and establishing diversity in the marketplace.
The DC development is basically an idea that has existed as far back as last October when BitShares launched on OpenLedger, a universal shared platform based on the BitShares 2.0 MIT-licensed Graphene blockchain technology. The term itself was incidentally conceived by Bates.
A Decentralized Conglomerate enables multiple organizations to team up and join forces on a universal platform and allows them to invest in each other’s success. In theory it should result in the entire network reaping the benefits of cross-promotion. At least that is the theoretical goal.
OpenLedger’s Role
As part of its evolution, CCEDK will transition from hosting an exchange to operating as support for the OpenLedger project. In so doing the pioneers forging this vision assert that it will not only become a service center but a “fiat gateway for the platform.”
Ronny Boesing, CEO and founder CCEDK, explaining some of the benefits says: “This will consolidate volumes between the two exchanges and give CCEDK a new position as the entry point for start-ups or businesses looking to raise funds, thus offering vital knowledge and experience, and enabling developers to serve end users better.”
Supporting Enterprise
Specifically, the relaunched CCEDK aims to have an emphasis on crowd funding and supporting new blockchain-based enterprises, with new services including escrow facilities, crowd funding, marketing and even issuance of assets on behalf of existing businesses looking to create their own smart currency.
Boesing adds: “We plan to use our expertise to facilitate new businesses raising money and getting up and running, as well as being the fiat gateway for OpenLedger, which similarly allows us to offer vital knowledge and feedback, enabling developers to better serve end users.”
He stresses that crowd-funding is the way to get to the heart of what the market desires.“Giving the crowd a direct involvement in bringing projects to fruition is a great way to let the market decide what it wants and needs,” he argues.
As part of this programme, CCEDK will sell so-called Initial Coin Offering (ICO)packages to businesses seeking to raise funds, also generating revenues for OpenLedger and CCEDK.
The Dane up in Jutland reveals that “tiered packages will come with different levels of advertising and blogging support, plus the creation of a custom token.” Higher-tier packages will offer more articles, written about the company from the Obits Bloggers’ Club 500 as well as a number of BitTeaser advertisem*nts.
ICCO (Initial Coin Offering Openledger)
A proportion of the revenues from consulting and selling ICO packages will then flow into OBITS and BitTeaser - as supporting assets - whilst another allocation will be made to holders of a new asset, Initial Coin Offering Openledger or ICOO for short.
Launching later this month on 20 May, ICOO is held up as a new kind of fund that will invest in future ICOs and create “proxy tokens” for them. These which allow users to trade the new project on OpenLedger in the period before the official launch.
As with other new projects, it is understood that a proportion of ICOO assets are reserved for OBITS, which Boesing describes as a “catch-all asset” representing all current and future initiatives in the CCEDK network.
ICOO funds will be distributed across several other key projects too beside from team funding. That will encompass: (1) BitTeaser advertising network; (2) Obits-based blogging network; (3) the DGX gold asset; (4) the Cadastral land contract asset; and, (5) A reserve buffer and implementation budget. Sounds like they are riding many horses on the way to the ultimate objective.
From an IT and technical perspective, the backend developers and assigned contractor of the ‘open’ assets of OpenLedger - namely blocktrades.us - will undertake the implementation of the various crypto currencies added to the OpenLedger platform, while the CCEDK team will handle everything else besides.
DAOHub: CCEDK’s First ‘ICOO’ Project
As CCEDK is preparing to launch ICOO, the first project that will be a focus of the token’s energy will be DAOHub.The way this will work out is that CCEDK will take a portion of the ICOO crowd funding campaign and purchase DAOHub tokens.
Subsequently after completion of the DAO ICO, the ICOO community will then move to support the next ICO that the CCEDK specialists “scout out and report” as being potentially prolific projects according to Bitland’s Bates.
Boesing and his team’s quest and the long-term goals for Openledger and CCEDK are to be an “incubator for tech start-ups”, a hub for existing businesses to transition to blockchain-based infrastructure as well as a “portal for investors to find these businesses.”
It’s a bold vision and one where the Dane intends for the synergy between the platforms to help them become the crowd-funding platform of the future.Let’s hope he’s right in being able to bring the dreams of the market to reality. Soyez chanceux.
