We had earlier interviewed Ronny Boesing, the CEO of CCEDK. In that interview, he explained about the origins of CCEDK and how he got drawn into the cryptocurrency sector. A lot of things have happened with CCEDK since then, including the recent launch of OBITS, an OpenLedger based crypto-token. So, here we are back with Ronny to know about the latest news from inside CCEDK and OpenLedger.
NewsBTC: CCEDK has been in the news a lot lately, especially about the launch of OBITS and how it is different from other cryptotokens? Can u please elaborate a bit about that?
Ronny: Unlike other cryptocurrencies, OBITS is based on profits generated from companies that are involved in making OpenLedger the preferred trading platform for crypto-traders, mainstream Wall Street style brokers and traders who are interested in making that last 10% of portfolio into something extraordinary on a long term basis, which differentiates between great success or failure.
In order to gain a better understanding of OpenLedger I would suggest you to go through this small story on this link.
It is a story based on what will be possible in the coming months. In the coming months we will be introducing a fiat gateway with KYC based whitelisting. Only validated users will be able to use this gateway as well as the upcoming fiat pegged crypto NanoCard. Once this project is completely implemented, it is likely to generate thousands of transactions per month. The project has already become a common knowledge and it is gaining traction from across the world. All these transactions happen over OpenLedger decentralized platform which differentiates OBITS from all the other crypto-tokens.
It is a live token, strengthening with every additional project joining the platform. The transaction fees paid by these projects serve as the life-force that helps OBITS grow. I believe that by 2017, these kind of projects will become popular among the world’s unbanked population. This is the right time to invest in OBITS, those who miss this slot might be sorry for not acting when they had a chance.
When I say new projects will help OBITS grow, I guess a better way is to say that it will help OBITS grow in terms of value per unit. The amount of OBITS available to the public will however be reduced, due to the monthly buyback and burn, thus reducing total supply. Eventually you will see a limited number of owners of OBITS (the investors believing in keeping close the good things in life, and only sell when needed) all of whom will be able to sell a small part of the remaining OBITS on a monthly basis as part of the buyback offer. This will allow anyone with OBITS to be supported for life based on the profits generated via the various revenue streams of OpenLedger.
NewsBTC: Which are the other decentralized projects that contributes its profits to OBITS?
Ronny: In order to give a better idea, let me explain the whole process clearly. Imagine OBITS to be your own bank located on blockchain in a decentralized environment, where you are able to manage your funds using your private keys. (The feature is already functional. All transactions happening over this bank carries a transaction fee of 10-15 cents depending on the cryptocurrency BTS rate.) 100% of the fees accumulated from this bank of yours are added to the revenue stream of OBITS (20% of all fees are returned to network for ongoing development, so it is the 100% of the remaining 80% we are talking about, which is added to OBITS) If you buy OBITS, you could say you are part owner of your own bank! And the bank is open 24/7 just for you!
The platform offers a wide range of features, making it easier to trade between any fiat – crypto or SmartCoin combinations. Some of the supported cryptos and assets include – BTS, BTC, NBT, DOGE, PPC, DASH, NSR, SmartCoins like USD, EUR, CNY and more. Any asset traded against fiat like USD, EUR and CNY are exchanged directly to and from the user account in fiat pegged crypto like OpenUSD, OpenEUR, OpenCNY etc. on the base of a set exchange commission of 2-3%, expected to be fully integrated in January.
Minimum 50% of all trading fees are added to the revenue stream of OBITS (minimum because of a Cryptonomex assigned contractor handling the Open Assets. On top of all, the available advanced market operations will include but not limited to trading (long and short), prediction markets, bond markets and P2P lending in the coming months.
It means in future you can arrange with your employer to have parts of your salary in fiat sent to OpenLedger, where the gateway will have it converted automatically against a commission of 2-3% to equivalent crypto to an account on OpenLedger which is controlled only by the user.
Withdrawal from OpenLedger account, paying employees in fiat directly to their accounts is also possible provided they are all validated according to KYC procedures. (this feature is expected to be fully functional by January 2016).
NewsBTC: Can you mention some of the important OpenLedger features?
Ronny: Some of the important features to the concept OpenLedger – Smart Trading Decentralized soon to be implemented include:
- A Ripple gateway integration
- An integration with crypto debit NanoCard supported by SmartCoins and assets like OBITS, OPEN.USD, OPEN.EUR, OPEN.CNY a.m.
- A PayPal gateway withdrawal option.
Ripple, NanoCard and PayPal are based on a fully operational multi-sig account functionality on the platform and it is expected to be fully up and running come February 2016.
100% of all transaction fees and trading fees on OpenLedger in connection with the above and CCEDK issued assets in particular are added to the revenue stream of OBITS.
All these reasons makes OBITS different. These are the features we are ready to share right now. Lots more is coming in the future, and since the aim is to make OpenLedger compete openly with any of the major centralized exchanges, and eventually take over as the No.1 choice of everyone wishing to trade in their own bank, OBITS will grow accordingly, very much tied to the increase of revenue streams on OpenLedger.info – the first decentralized exchange with a financial trading platform, KYC based whitelisting of fiat users, a multi crypto debit NanoCard accessible worldwide to fiat, as well as Ripple and PayPal gateways and to tie it all up with a multi-sig account.
NewsBTC: How was the response to obits during presale? How much money did CCEDK manage to raise until now as part of the Obits based fundraising campaign?
Ronny: It seems we managed to get a good grip on an initial amount of interested parties, as we have managed so far (within 1 month or 4-5 weeks as we took off with presale on Nov. 13th) to sell some 3,5 mill OBITS equivalent to some 600 BTC or in USD some +260K USD in today’s rate according to CMC market cap, where the stats are based on sales to public, rather than what is totally available as supply. Total supply of OBITS is some 18 Million, full details available on our statistics page on OBITS site, where it also states how much OBITS is left. It is obviously not bad at all, my own target is however to reach 70% of total supply available by the time of first buyback which is 1st day of February, so the good news to investors and VC funding organizations is that it is still possible to buy into this token of the future, and special arrangements are possible based on volume and commitment to hold at the very least until first buyback.
NewsBTC: If I have understood it right, OBITS are crypto-technology based shares issued/sold by CCEDK. Apart from the profit sharing model currently in place (as mentioned in the press release) are there any other applications where they could come in handy?
Ronny: I think in time OBITS will become a market maker on many different levels, I see OBITS playing a crucial role in supporting the company’s future products based on OpenLedger Platform.
OBITS is CCEDK’s crypto-technology based token that connects all the revenue streams generated from different arms of the company that are based on or connected to OpenLedger decentralized fintech platform. OBITS is probably the first cryptocurrency to include all profits generated from the activities taking place on a decentralized trading and exchange platform. It will soon make it possible to have instant fiat payouts anytime from anywhere across the world (after validation).
Decentralized exchange and fiat never seem to go hand in hand, except on OpenLedger. In the coming months, the addition of instant conversion from user’s private bank account on OpenLedger will enable them to cash out in any ATM across the world. We intend to announce the feature once there is proper funding after reaching the targeted 70% sale of OBITS.
NewsBTC: CCEDK has partnered with many companies to offer a wide range of features on its platform, what do you have in mind for CCEDK in the immediate feature?
Ronny: I have explained the whole thing during the first question itself, if you need any additional information, please let me know.
NewsBTC: Talking from the regulatory perspective, we all know about the unfortunate events in Paris last month. There were discussions about introduction of stringent regulatory measures on digital currency and alternative payment systems. Has there been any significant changes in CCEDK operations or the regulatory framework in Denmark?
Ronny: I think, as long as you prepare yourself in all the ways possible to avoid anyone of these bad people to access fiat through you, you have been part of making it difficult for such people to carry out their intentions. I think it is very important to make it difficult for such people to access funds via crypto, which will limit their interest in cryptocurrency and it will also make it easier for any legal authorities in future to take action when needed. We do all we can on our end to prevent anyone like this from misusing our offerings. We will continue to do this in close cooperation with local authorities as well as the EU based crypto task force with branch offices in most European countries.
NewsBTC: What are the different roles you handle in CCEDK?
Ronny: I handle most of the things at CCEDK, while the tech guys do what they are really good at. Everyone working at CCEDK are exceptional in their own ways. I take care of front office, marketing, PR etc.
NewsBTC: Any expansion plans on the drawing board at this moment?
Ronny: We do have, but cannot share it just yet.
NewsBTC: Would you like to add anything more?
Ronny: I think it’s important to add that the centralized exchange CCEDK and the decentralized platform OpenLedger works very well together creating a synergy not possible for many to experience, and it allows us to present the best possible solutions on OpenLedger once well tested and proven ready on CCEDK. I believe as such one cannot exist without the other to perform the best possible, as CCEDK is also the one providing the gateway to OpenLedger via fiat, Ripple, PayPal as well as NanoCard. Nobody else has these options like we do, making us stand strong in the eyes of the public as well as any investors we could be looking to welcome in the near future. Any interested parties looking forward to associating themselves with OBITS, OpenLedger or CCEDK can contact me at [email protected].