With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Barter Smartplace, a confidential digital asset exchange platform based on a legal smart contract has arrived.
"Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.
As a counter-culture movement that is often connected to cypherpunks, cryptocurrency is essentially a fiat currency. This means users must reach a consensus about cryptocurrency's value and use it as an exchange medium. However, because it is not tied to a particular country, its value is not controlled by a central bank. With bitcoin, the leading functioning example of cryptocurrency, value is determined by market supply and demand, meaning that it behaves much like precious metals, like silver and gold.
Cryptocurrency transactions are anonymous, untraceable and have created a niche for illegal transactions, like drug trafficking. Because the currency has no central repository, law enforcement and payment processors have no jurisdiction over bitcoin accounts. For cryptocurrency supporters, this anonymity is a primary strength of this technology, despite the potential for illegal abuse, as it enables a shift in power from institutions to individuals."
With that being said, Barter is looking ahead and expanding the use of smart contracts in the legal field, using digital assets as contract objects.
Now that I have your attention, let’s get right to it.
What exactly is BARTER SMARTPLACE?
As depicted above and as indicated on the official website of Barter Smartplace, Barter Smartplace is a confidential digital asset exchange platform based on a legal smart contract. In addition, but as the main element of the platform ecosystem, a service of tokenization of a real valuable asset is provided, which can then be placed on the smartplace. Digital assets lowered the barrier of trust, increase the privacy of the parties to the transaction and the speed of its execution. Legal smart contract with electronic signature allows achieving high reliability and convenience of the service.
Smart contracts in the financial sector have shown their advantage in comparison with traditional methods of value transfer, but so far have not been widely used in the legal industry.
Barter is looking ahead and expanding the use of smart contracts in the legal field, using digital assets as contract objects. By combining digital assets of different standards in one ecosystem, it is possible to exchange them with each other instantly and almost free of charge, having received this legal contract for the transaction with a record in the data register with a copy of the digital form of the contract.
Smartplace is a trading order platform in the Barter ecosystem. An order that includes one or more items of uniform quality, items, and sets is called a lot. The lot can also include heterogeneous assets, for example, it is possible to place a car and real estate in one lot. Each order and lot is assigned a sequence number (ID) and a price is set. The value of the lot displays the total value of the assets included in it.
by Ethereum — foundation of Barter platform design. Provides lightning transaction speed.
will provide support for a new type of trading — barter trades. Facilitates interaction between tokens standard ERC-721 and ERC-20.
ensures confidentiality of personal data of parties to transaction and other important computation.
Distribution of Investments
Attracted funding from stakeholders in the development of the Barter platform will be aimed at the development of the blockchain platform, smartplace applications and maintaining their performance. Startups in the crypto-currency industry face legal problems, so Barter has its own legal consultants to solve such issues and additionally seeks professional help from other international lawyers.
Today, any project and product at the first stage of launch needs a strong marketing strategy to become recognizable in the market and attract potential users. Barter:
smartplace is positioned as an international project. It is planned that the marketing and promotion of the product will initially be aimed at expanding the community and increasing the potential user base of the application.
All participants of primary financing before IEO will be included in white list of participation at IEO, it guarantees 100% place in market with high demand.
Participants pre-sale have right to sell tokens on IEO immediately in fact listing. Participants ICO have right to sell 50% tokens on IEO immediately in fact listing.
Token type: ERC-20
Blockchain consensus: D-PoS
Project idea, market Analytics, conception descriptiont of the OTC-platform and product interface.
A minimum team has been formed to prepare for the seed stage of investment, presentation, writing primary documentation about the product, development of marketing strategy.
Attracting investments, expanding team, developing a minimum viable product (MVP), updating and supplementing product documentation in several languages (White Paper, Token Economy, One Page, Presentation), minimal marketing on target sites.
Launch of MVP, marketing, receiving feedback from potential users on the product, launch of crowdsale smart-contract, code audit, investor’s account on the project website, preparation for the initial exchange offer (IEO).
Develop a core product, increased marketing, Initial Exchange Offering of token Barter platform at top-cryptocurrency exchanges to attract additional investments ($3 million).
Launch of the beta version of Barter: Smartplace and blockchain test-net token platform (payment system), new partners to expand the ecosystem, integration with banking institutions (API) and registers of owners of real and movable assets.
over-the-counter and barter transactions on Barter: Smartplace by strategic partners and banks, launch of the interbank Lightning payment system (beta), preparation for the launch of main-net platform, expansion of product line, integration of the platform into interbank operations at international level.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.