Introduction
What is the value of a product which is in high demand but highly volatile? Let us compare two different kinds of products and choose a suitable one. A product which currently provides high value but not any security measure for default claims. Another product which has low value and in demand but provides enough measures for default claims. Which one would you prefer? Most of Us will go with the second kind of product. It has the security. As the market grew and a plethora of products arrived, a security to the buyer has always been a priority in case of bad experience.
The market regulators keep a keen eye on every product for this specific guideline. A product has to meet regulating guidelines, security compliances, and law of the land if it wishes to trade. But, as the new technology-based products are reaching the market with new demands and features, it is becoming a tedious process to categorize the products into the traditional system. The new products are volatile, scalable and have fresh approach compared to the traditional products. They possess the capability to reform the traditional industry due to their tech-based approach.
If we look at the current tech products we find cryptocurrency in such position.
- It has high demand among the public.
- It is a technological invention.
- It is highly volatile.
- It has high risk.
- It has no measure for default claims.
- It is highly valuable now.
- It has the scalable design which can be integrated with any industry.
Many in the traditional industry are fascinated with the idea of cryptocurrency but are afraid to take the plunge, due to its devastating shortcomings. The major shortcomings of the cryptocurrency are mentioned below.
- Cryptocurrency does not have titled/auditable Ownership : This means they crypto assets cannot be audited by accounting firms or traditional method of accounting. They do not have any direct existence within the fiat systems. They cannot act as collateral either.
- High Risk involved in the clearing and settlement of cryptocurrency : Crypto exchange has significant risk considering the transactions are final without any legal implications involved. There is no government or sovereign body controlling any exchange which is alarming for traditional institutions.
- Risk of theft and Security Breach : It possesses the high risk of security breach and theft of data records. Data can be destroyed as special hardware is required for this purpose.
There is a need for a platform which integrates cryptocurrency with fiat currency. An ecosystem where the traditional investor can invest in the crypto asset and crypto-based startup can raise fund through institutional methods. A synergy can be created between fiat currency and cryptocurrency in the ecosystem to promote a unified product.
Solution
The CyberTrust is creating a solution to turn cryptocurrency into a secured product. It will create Global Crypto Notes (GCN) which will have a legal claim to crypto assets(BTC, ETH, BCC/BCH).there will be special service for each of the BTC, ETH and BCC/BCH which will issue relevant GCNs. All clearing and settlement will be done by Clear stream Banking SA. The SPV (special purpose vehicle) auditing will be done by Ernst and Young by Q2 2018.
It is creating a CABS (crypto asset-backed securitization) token for securitizing crypto assets. CyberTrust has applied for a license for custody and brokerage service in Luxembourg. After obtaining a license from Luxembourg, it will apply to other countries such as USA, UK, and Switzerland.
How does it work?
It is a simple process where you just need to open an account at first with CyberTrust with KYC credentials and deposit your cryptocurrency. CyberTrust can also be used just as custodian for your cryptocurrencies. An account can be further extended to join securitization pool for different cryptocurrencies. It provides services of traditional custodian bank as well as brokerage services. CyberTrust approach is similar to institutional banks in case of providing these services with security claims.
Team
The team consists of market experts, bankers, engineers and crypto enthusiasts. They are working very hard on this project which aims to bridge the gap between fiat currency and cryptocurrency. Providing security claims for cryptocurrency will open up a new world for investors and the general public. They have already broken ground with their concept and idea to build such system which breaks the divide between real world and crypto world. They are guided and advised by well-established names of Industry and Traditional market.
ITO Information
To fund their project, they have taken the route of ITO. They are conducting their ITO campaign from 5th December 2017 to 5th January 2018.
A total of 600,000 tokens will be issued under the CABS ticker. CABS token is ERC 20 standard based Ethereum Token. The minimum bid is 1 CABS. Their platform has the capability to transform the nature and scale of an entire crypto asset in the world.
Why should you invest?
No one can stop an idea whose time has come. Cryptocurrency is a true example of such idea. It cannot be avoided as it provides applications for the entire Industry. They have a huge task. It will change the way we look at cryptocurrency. In a volatile crypto market, CyberTrust is developing a technology which will kill all the fear around the crypto asset. By making it similar to the traditional asset, it will bring the crypto asset to the mainstream market. We must choose to participate in such ecosystem which provides best of both the worlds.
For more information visit:
Website: https://cybertrust.io/
Whitepaper: https://www.cybertrust.io/CyberTrust-WhitePaper.pdf
Written by: ollivander7
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616