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Offline James

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DACx 100% delegates proposal: dacx.baozou
« on: January 18, 2015, 12:28:14 PM »

Hey everyone. Long time no see. I am James Gong, aslo known as Baozou (Rampaging Prince Gong) in the Chinese community.

Recently there is a lot of focus on the business of payment through cryptocurrency, though I see great potential in international payment through cryptocurrency, I still believe it will not stimulate large-scale personal demand for any application to have a sustainable growth. However the need to raise capital and to invest is there every day and numerous barriers to go from Angel, to VC, to PE and securities regulatory committee is a process only few can scrape through, if my team and I manage to shorten the tunnel and lower the cost, it would really solve problems and create values to the world.

On November 19th, the Chinese Premier Li Keqiang held the state executive conference of the state council, demanding to construct a speed micro-finance system in the capital market and first proposed a pilot program of "equity crowdfunding". In China, in order to get listed, companies need to go through years of complex procedures and limits, causing the small and medium sized companies' difficulties in capital raising, which explained a lot why all these crowdfunding platforms mushroomed in the past year. My team and I are pushing forward our own crowdfunding platform DACx, in the hope to take crowdfunding platforms to the next step: the facilitation of exit after investment.

The liquidity of capital is what investors care about the most, if an investment has very limited exit channels, or worse, when the investors are not sure how to get out later, they will not even consider this particular investment. The exit of investors is a demanding, time-sensitive and very hard job to be done. Any centralized exchange that is yet approved by the government would face huge pressure and legal risks, as evidenced in the last couple attempts occurred in China with the ending of none standing still. However, the block chain technology offers unprecedented opportunities as it will belong to no country and it has no centralized servers or operational institutions to be destroyed.

Hence, what DACx is different from all the uprising crowdfunding programs in and outside of our crypto-currency world, is that DACx not only offers platform that allows investors throughout the world to easily give in for programs on a decentralized crypto-asset platform, it gives investors the right to exit from the first day, and this might be first in the history. This feature might also attract traditional VCs and PEs as they need to go through an extended period of time in roder to get back their investment. Furthermore, liquidity adds more value to the shares. The prices of shares that can be traded in an open market is a world different from those that are not. A quick look into the legal persons’ shares or the price gap between PTS and AGS can help with the picture here.                   

DACx has done a thorough research on protocols of the decentralized crypto-assets and came to the conclusion that BitShares can best suit our purposes. First of all, on BitShares, it's easy to issue BTA (BitAssets) that can be traded globally on the decentralized built-in exchange based on the block chain technology. Secondly, BitShares holders formed a caring and hardworking community that passed many real-world tests in the process of its development. Furthermore, the circulation of BitCNY and BitUSD and other BitAssets that are pegged to its fiat counterparties made BitShares even more ideal for a global crowdfunding technology. Because investors would hardly invest using a crypto-currency like Bitcoin that is notoriously volatile, because despite all of its benefits including the convenience when making international transactions, as then they would be facing a complicated combination of two risks. BitCNY and BitUSD come in very handy in this situation as first, the investment and settlement can be done in the traditional sense of fiat currency and the value carried by them could still flow all around the world barrier-free and second, acceptance dealers would allow investors to invest without really holding a geeky wallet thus welcoming more people who are not familiar with the cryptocurrency idea.

After the crowdfunding process, investors can trade their shares on the decentralized built-in exchange on the first day. For DACx, it would serve as a supporting platform for small and medium sized companies, various projects and programs to meet their investors of a spectrum of capital size. For BitShares, DACx will take the most advantage of the protocol, profoundly promote its brand and usage.

That is why DACx will help traditional companies to issue their own shares using the BitShares technology. We have already launched the crowdfunding of the first project "BitShares PLAY" on our platform, raising more than 2,500,000 RMB in the first week. In order to legally protect our investors we need fundraisers to transfer their shares or rights to earnings to be held in trust of a equity trust company who will release issue BTA. In this case, the legal share holder of the shares given out to investors is the equity trust company, who will claim all the rights of investors.

Standing from this point of view, we believe this has a shot of becoming the killer app of the block chain. To simplify capital raising and investment in a global scale will be truly extraordinary. Fundraising globally is not a novelty in the industry of mining, but it remains too geeky to the outside world. DACx seeks to standardize and simplify the whole process to benefit more with the invention of the block chain technology by making this inside game a smooth channel for funding for more in need.

DACx will be serving the role of investment banks, providing financial service and solution package. Since DACx itself is not an exchange, so it will not bear too many legal controversies, and at the same time upon the advice of our legal team, DACx will follow the case of ADR to provide a BDR (Bit Depositary Receipt’s) to crowdfund in order to avoid unnecessary legal problems.

This project has jumpstarted in our office that is based in Xintiandi, Shanghai since last year after we got our seed investment from a world famous VC. The team consists of experts in the cryptocurrency industry, professionals from traditional investment banks like Merrill Lynch and seasoned legal team in the crypto-financial services.

On behalf of DACx, I've made the decision to run for 100% delegate. Beginning from the translation of BitShares whitepaper, I have been a believer and a promoter till now, and now combined with DACx team's contribution, what our coherent would do for the promotion and devleopment of Bitshares will be even greater in every endeavor in a very long time. I wish for the support from the community.

None of what we are trying to do can happen without the contribution of the whole community and the BitShares technology. I'd like to express my sincere gratitude.

Our Delegate: dacx.baozou
« Last Edit: January 20, 2015, 11:09:06 AM by James »

Offline merlin0113

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #1 on: January 18, 2015, 12:33:15 PM »
+1 +1 +1

Offline callmeluc

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #2 on: January 18, 2015, 12:34:21 PM »
 +5%

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Offline wuyanren

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #3 on: January 18, 2015, 12:40:27 PM »
e....good啊good啊

Offline cass

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #4 on: January 18, 2015, 12:46:51 PM »
 +5% you'll get my vote!
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Offline aloha

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #5 on: January 18, 2015, 02:11:21 PM »
Great  +5%

Offline Akado

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #6 on: January 18, 2015, 02:17:57 PM »
Nice  +5% hope to see this grow
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Offline onceuponatime

Re: DACx 100% delegates proposal: dacx.baozou
« Reply #7 on: January 18, 2015, 09:56:59 PM »
Voted.

Offline carpet ride

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DACx 100% delegates proposal: dacx.baozou
« Reply #8 on: January 19, 2015, 12:42:05 AM »
+1 Would it be possible to add specifics in showing how the funds will be spent?


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Offline btswildpig

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #10 on: January 19, 2015, 05:47:31 AM »
+1 Would it be possible to add specifics in showing how the funds will be spent?


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I think for a project like this , having a delegate is not for funding rather than recognition for both parties .

The funding can not even pay for 1/10 of the rent of this project , judging by the office place they mentioned above .

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Offline donkeypong

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #11 on: January 19, 2015, 06:21:52 AM »
Fantastic! I'd vote for this at 110%. Who needs Overstock when we have DACx?

Offline 天籁

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #12 on: January 19, 2015, 06:31:34 AM »
 +5%
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Offline cube

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #13 on: January 19, 2015, 07:01:32 AM »
..
DACx will be serving the role of investment banks, providing financial service and solution package.
..

Do you need a license to do this? Who are your target audience?
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Offline xeroc

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Re: DACx 100% delegates proposal: dacx.baozou
« Reply #14 on: January 19, 2015, 09:50:10 AM »
adding you to my slate
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