BitGate uses blockchain technology to bridge the gap between the old and the new economy, enabling instant, global, and frictionless value transfers.
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Bitcoin was invented in 2009. Since then the number of users and transactions have increased rapidly. Bitcoin’s global exchange volume is now over 400 billion dollars worldwide.. And big companies like Microsoft, Dell and Wordpress are already getting on board
Today, when you pay someone, the payment goes through a bank or payment service before it reaches the recipient. Bitcoin removes the need for middlemen, enabling direct person to person transactions in a trustless manner. The blockchain technology behind Bitcoin is open, decentralized and self-regulating...and has given rise to a whole new economy based on cryptocurrencies. We call it the Crypto Economy
In contrast, the traditional economy and finance sector is based on closed, centralized systems, regulated by law. These systems are fundamentally different, preventing frictionless interaction, and resulting in a gap between the two. BitGate bridges this gap with a hybrid-economy platform. Like Bitcoin, it’s based on open blockchain technology, but it also enables centralized elements that allow for parts of the platform to be regulated.
This allows BitGate to achieve regulatory compliance in each jurisdiction around the world. Ultimately, BitGate will connect banks, exchanges and companies to the emerging internet of finance...giving end users access to a highly scalable, frictionless and global market.
Let Us Know What You Think!
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Today, when you pay someone, the payment goes through a bank or payment service before it reaches the recipient. Bitcoin removes the need for middlemen, enabling direct person to person transactions in a trustless manner. The blockchain technology behind Bitcoin is open, decentralized and self-regulating...and has given rise to a whole new economy based on cryptocurrencies. We call it the Crypto Economy
In contrast, the traditional economy and finance sector is based on closed, centralized systems, regulated by law. These systems are fundamentally different, preventing frictionless interaction, and resulting in a gap between the two. BitGate bridges this gap with a hybrid-economy platform. Like Bitcoin, it’s based on open blockchain technology, but it also enables centralized elements that allow for parts of the platform to be regulated.
This allows BitGate to achieve regulatory compliance in each jurisdiction around the world. Ultimately, BitGate will connect banks, exchanges and companies to the emerging internet of finance...giving end users access to a highly scalable, frictionless and global market.
This is incredible. Good job.
Thank you necrus!
on what technology will it be based on?
BitShares :)
so you are going to be using BTS as the native token?
The plan is to use BitShares as is, hopefully with upgrades in the future. We could fork Graphene and do our own thing, but as of right now the best way forward seems to be collaboration. Whatever Daniel Larimer is up to might also be relevant.
The video looks so slick. Your project has so much potential for growth it's simply mind-boggling. I can't wait to see it grow. Take care @clains!
Old centralized economy does not need a bridge… it needs to die. ASAP
I wish it was that easy, but the situation is very real: Governments all over the world have rules in place, and people are afraid of change. Without subtlety in the transition the old infrastructure will resist and contract in a way that makes the process less egalitarian, and even more slow and painful.
I didn't say it would be easy. It will be painful, it's the nature of the revolutions. But it has to be done. And as soon it is finished, the less will be painful. No bridges for banksters…
I think the cryoto model has to be easy to use, just as easy as the fiat model. People need to be given the means to be able to go from one model to another in an easy way (bitgate). Over time people will decide which is best for their interests. In the future one of the two models will study our children in the cole as part of the history of humanity.
Very cool. I wish you guys the best of luck going forward.
Thank you :)
Great looking video! Great work from your marketing department.
Thanks!