Apptrade is a profit sharing marketplace, described as “the stock market for apps” but instead of supporting one project, users can support multiple projects and have all the compliance and tracking automated via bitshares. The temporary tokens APPX.WARRANT representing the Apptrade master tokens, known as APPX will start to trade on the OpenLedger DEX immediately after the minimum threshold of 1 million USD has been achieved during the 61 days of the Apptrade Initial Token Offering (ITO) on February 28th, 2017.
Similar to how Ether tokens were issued during a crowd sale, then redeemed into Ethereum (ETH) on a 1 to 1 basis once their network was launched, the temporary token APPX.WARRANT will convert 1:1 to the Master Apptrade token APPX, once the Apptrade network goes live.
The estimated timeframe for conversion of WARRANT.APPX to the final asset on a 1:1 basis, will occur in 12 months post token crowd sale or earlier if the project is ready and tested ahead of schedule.
The OpenLedger Decentralized Exchange (DEX), the platform acts as the foundation for a Decentralized Conglomerate; an ecosystem of interlinked and mutually-supporting companies. By using the Graphene toolkit, crypto companies can develop applications or services on top of the framework.
Las Vegas recently hosted CoinAgenda 2016. It is a conference for both the mainstream who are new to Bitcoin and Blockchain investments and experienced investors in digital and blockchain assets to come together. In this edition, Ron Boesing, CEO of OpenLedger and Bitcoin exchange CCEDK revealed the future plans for OpenLedger. From a successful career in the music industry to a switch to digital asset based investments, Ron has been relentless. Let’s look into the key takeaways from the interview:
Ron Boesing was in the music industry for about 25 years. The financial crisis of 2008-09 hit the music industry hard leading to the closure of Ron’s record company. After two years of contemplation, Ron went back to college to take a bachelors course in ‘Export Technology Management’. In late 2014, he actually came in contact with Bitcoin and an old friend proposed the idea of establishing an exchange. In collaboration, they launched the first Bitcoin exchange out of Denmark (CCEDK). During the course of his cryptocurrency ventures, Ron fondly recollects that the journey was a continuous learning curve.
Currently OpenLedger has completed a year slowly phasing out CCEDK as planned. The idea was to make OpenLedger the gateway for fiat and cryptocurrency making it a decentralized exchange.
Traditional IPO vs ICO
When asked about how these ICO’s would differ from traditional IPO’s, Ron made it very clear that in ICO’s, the investors have an easy exit option. This means apart from investing, there is an option to move the funds from one cryptocurrency to another as a backup contingency. Ron explained that unlike other ICOs this doesn’t require a crowdfunding investment. It rather revolves around only investing in ICO’s and gaining the privileges. With the facility to the move the funds around, Ron believes it would resemble a cryptocurrency index.
Talking about the token sale of the projects OpenLedger would be associated with, Ron gave preliminary information about the same:
Beyond The Void: This would be OpenLedgers collaboration with gaming industry. The tokens can be ordered on OpenLedger or directly from Beyond The Void.
Centz: Centz enables full control over individual’s Gift Card Money via OpenLedger ICO. This would essentially allow for transfer and buying of requisite Gift Cards suitable for individual’s occasion.
Apptrade: This has an entirely new approach to developing and managing next generation of mobile apps. The underlying idea behind this is to create a ‘Stock Market of Apps’
With so many interesting prospects coming up, Ron looks hopeful about OpenLedger’s chances at enabling complete decentralization.