Multifaceted Bitcoin company Banx Capital recently announced to partner with BitShares, an industrial-grade financial settlement platform.
The fellowship, as per reported in media, is aiming to utilize “smartchain”, a method that will allow multiple exchanges to trade user-issued assets with and against each other within a well-defined universal network, provided by BitShares. These assets will be powered by an underlying cryptocurrency, also known as BitShares, which will have access to all the network ports — the companies and the users; therefore, improving operations’ liquidity and speed.
Explaining further, Banx Capital’s CEO and Founder, Mark Lyford, said that smartchains can be used by the entire industry to exchange assets. He stated:
“It can serve as backbone network to all the exchanges as a way for them to trade with and against each other. Instead of keeping their order books in a dark, closed, isolated, hackable stovepipe, they can put them all out there in the transparent open where all their combined customers can trade against all their combined assets!”
Lyford’s comments somewhat points towards BitShares’ recent integration into yet another cryptocurrency exchange — Denmark-based CCEDK — that would enable both the exchanges settle buy and sell orders in a unified order book, without turning into a competition threat to each others. This will subsequently benefits their users, who would now be able to enjoy flawless liquidity between two (or more) separate exchanges. And it will be secure, ensures Lyford.
“With shared order books we will have deeper markets, tighter spreads, and greater liquidity,” he stated. “And since our customers keep their own keys while trading on this network, combined with hierarchical multi-sig capabilities we can’t get hacked – and our customers can’t get hacked.”