For digital currency exchanges, the pain point is how to increase trading depth and enhance liquidity, especially in a bear market. In order to solve the pain points, digital currency exchanges have launched a series of gameplay such as "trading is mining", financial derivatives, and inviting quantitative teams to join.
In addition to these actions of the digital currency exchange itself, the encryption world also has the role of a stock exchange in the traditional financial world, allowing participants to share transaction data and liquidity. Recently, Odaily contacted the exchange allianceBXA（Blockchain Exchange Alliance）. Currently, Bithumb, one of the largest exchanges in South Korea, is a member of the alliance.
The main purpose of the exchange alliance is to share order data and increase the liquidity of the entire network. As a member of the alliance, each exchange also obtains liquidity from it.
BXA global co-CEO, Bithumb's largest controlling shareholder, Kim Byung-gun, chairman of Singapore's BK consortium, and BXA board member Kangho Kim said that although BXA is currently an exchange alliance, its vision is to be a digital asset financial institution that provides users with a comprehensive digital financial services.
Regarding the exchange alliance, BXA Global Co-CEO and Chairman of the ONEROOT Foundation, Tony Sun, said that whether it is digital currency trading, traditional stock trading, or securities trading, the essence of the transaction is actually the same, all through price matching, matching catalogs, and then according to Different market premiums to trade. If the judgment is accurate, you will make money, and if the judgment is not accurate, you will lose money. Taking the traditional Shanghai Stock Exchange as an example, the trading data of all brokerages on the Shanghai Stock Exchange is connected. They share a set of matching servers, share a trading depth, and connect all transaction data, so that they can provide sufficient trading depth and market liquidity. BXA is equivalent to the Shanghai Stock Exchange in the blockchain world.
As a blockchain solution provider, ONEROOT has established a strategic partnership with BXA to provide technical support.In terms of technical solutions, it mainly includes two products: DDEX, DCEX. Among them, DDEX is a distributed decentralized exchange solution based on the R1 protocol (distributed decentralized exchange protocol). DCEX is a set of trading system solutions for centralized exchanges.
Compared with technology, the biggest advantage of BXA is operation, that is, whether it has a license and legal currency channels. However, among them, Bithumb is BXA's killer feature.
Tony Sun said that Bithumb has already had a large amount of operating income and capital in and out. It is not a start-up company, but a relatively successful company that has undergone transformation and brought its own traffic. At present, BXA has obtained fiat currency channels and compliance licenses in 16 countries around the world, and has established 12 local entities around the world.
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In the track of the exchange alliance, aggregated decentralized exchanges, Odaily has reportedTokenlon、DEx.top、DDexand other decentralized trading platforms, and introduced0x、Kyber、Hydro and other agreements. Aggregation of centralized exchanges, Odaily has reported cloud exchange service providersMasterDax, trading depth and settlement systemGLASS networktextBiUP。
one of themGLASS network, a transaction depth and settlement system created for the US private equity trading platform SharesPost. At present, several major domestic exchanges OKCoin and Huobi have joined the network. So how does BXA view the Glass network?
Tony Sun said that Glass is equivalent to the central bank’s clearing and settlement system, which connects Industrial and Commercial Bank of China, China Merchants Bank, China Construction Bank, etc., but these traditional banks all use the same system, and different encryption exchanges use different systems. There is a system, so there needs to be a reconciliation process in the middle. andBXA is a set of systems used by all exchanges, the same standard, just like the Bank of China has opened branches all over the country, the system is the same, there is no need for an account reconciliation process in the middle, and the efficiency will be higher.
Talk about BXA's competitors, Tony Sun said that BXA's biggest competitor in the future is Coinbase, but Coinbase is in North America, and BXA's main battlefield is Asia (Korea, Japan, Hong Kong, and Singapore). In addition to the regional differences in the main battlefield, Tony Sun also said that BXA is building its own public chain.
Short-term development plan for BXA, Tony Sun said that the first phase of BXA adopts a self-built method. At present, the 16 exchange alliance members of BXA are all invested by ourselves, and they have all obtained licenses and legal currency channels. When the prototype is completed, the number of users exceeds 10 million, and the transaction depth and liquidity run, it will attract small and medium-sized exchanges to join. In addition, exchanges in the UK, Thailand, and Taiwan will first share order data, and in February and March 2019, Bithumb's transaction data will be connected.
In the long run, BXA wants to become a digital asset financial institution.For the development plan of this vision, Tony Sun said that it is mainly divided into two stages: one is the technical layer, which attracts traffic and users through the exchange alliance and public chain. The second is the need to superimpose various digital financial services such as payment, insurance, and asset management. Among them, payment is the most likely to land.
AnnounceAnnounceIn cooperation with the US financial technology company Seriesone, a regulatory-compliant securities token platform will be launched. Tony Sun said that STO is similar to the previous asset securitization, which can bring a new liquidity-supported market and a new premium space. STO is a trend that allows the traditional financial industry to accept blockchain technology. This is the biggest progress. At the same time, tokenization may bring about a real cross-border financial market. Once the cross-border financial market appears, liquidity will increase. A qualitative change occurred.
I am Qi Ming from Odaily, I explore the real blockchain, and I like to chat with various gods every day. For project communication and breaking news, please add WeChat qingmoruoshui, please note your name, company, and position. For reprinting/content cooperation/reporting, please contact report@odaily.com; illegal reprinting must be punished by law.
I am Qi Ming from Odaily, I explore the real blockchain, and I like to chat with various gods every day. For project communication and breaking news, please add WeChat qingmoruoshui, please note your name, company, and position. For reprinting/content cooperation/reporting, please contact report@odaily.com; illegal reprinting must be punished by law.
