Quote from: fav on March 24, 2017, 09:07:40 AM
anyways, no sharedrop and no direct advantages for bitshares. moving to random

If other organizations got to know GXB created based on Bitshare 2.0 and Emercoin, and they must be focus on bitshares 2.0.

You should vision in future.

Announcement

According to the available rule, GXB would like to inform all shareholders and ICO investors: GXB Project operator - Hangzhou Credit Data Technology Co., Ltd has created a new data technology with a third party ( force politicians and business veterans). The new company name is - Hangzhou Jing-Yi Data Technology Co., Ltd, and the main business is to customize blockchain project and operation for Chinese government agencies.

These customize blockchain projects of Chinese government agencies could access to GXB, that means GXB will earn profit from customize blockchains.

At the same time, this new company will become a shareholder in a Provincial Big Data Exchange Center, and will develop, operate for this Center.

GXB
23rd., March, 2017

Some features:

1. No Data Precipitation/Caching

GXB Data Exchange shall not cache any data from the data source, which could guarantee the maximization of the benefits of the data source generators and avoid the risk of data leakage, debottlenecked the defect of transaction data caching in traditional centralized technologies


2. P2P Data Transmission

When transaction query matched, the data shall be exchanged via point-to-point transmission and the Hash value written into the blockchain shall be the proof of the transaction completed


3. Asymmetric Data Encryption 

With the asymmetric data encryption technology, the data shall only be decrypted when the public and private keys of both parties matched, which could eliminate the risk of transaction data leakage and steal


4. Digital Proof of Ownership (DPO)

As each data has a unique digital proof of ownership (DPO) which could ensure the uniqueness of the copyright and permanent right to earnings of the data generators


5. Precise Data

Whatever the personal identity data acquired by the crawler tools or the special data provided by the Alliance members, the mechanism of GXB Data Exchange could guarantee the accuracy and freshness of the data to the best extent


6. Whitelist Technology

GXChain shall classify the client group trading of specific data through the whitelist mechanism, i.e. GXB may establish the governmental data exchange alliance, financial data exchange alliance etc., which enables the exchange of data in different fields via the same blockchain


7. Anonymous Transaction

All parties involved in the transaction may opt to the anonymous transaction mode, which could safeguard the privacy of all parties and is especially suitable for the exchange of financial performance data of internet financial industry;


8. Proof of Credit Share (PoCS)

Which enables the equal transaction of data between enterprises with different data volume


9. Authorization

The exchange of personal sensitive data must be subject to the personal consent and authorization, which enable the sunshine and transparent exchange of personal sensitive data and effectively curb the leakage of personal data



10. Support of High Frequency Data Exchange

With the DPOS mechanism, GXChain could make the block confirmation time as short as 3 seconds; the advanced high-frequency data exchange technology enable the millions per second data exchange frequency in GXB Data Exchange


11. Fair Pricing and Real-time Settlement

The unit price of data shall be determined by joint voting of the alliance members, which features with flexible adjustment and could give full play to the law of market regulation and respect the pricing right of all alliance members. GXCoin enables the flexibility and transparency of real-time settlement and the time stamp technology enables the traceability to the consumers


12. Access and Punishment Mechanism

GXB shall exercise rigid audit to the alliance enterprises, only enterprises with data generation ability and practical data demand could access the alliance, and shall implement the harsh punishment mechanism to data fraud to effective curb the generation of false data. 

Quote from: fav on March 23, 2017, 10:34:45 AM

Quote from: GXShares on March 23, 2017, 02:41:40 AM

Quote from: fav on March 22, 2017, 08:46:17 AM
wait a minute. did you just copy bitshares?

do you sharedrop?

Not copy.

GXB based on Bitshares 2.0 and Emercoin, and so many changes.  We disposed "Currency Market" and add so many functions.

This is a real business model and it can earn profit by itself. It does not need to get profit from Crypto-currency market.

awesome. did you add something we could use in bitshares 2.0?

We cut the market and add some functions such as send files by p2p, DPO (Digital Proof of Ownership), etc.

We can not sure if these functions could use in bitshares 2.0 that these designed for our DATA Exchange business model.

Quote from: fav on March 22, 2017, 08:46:17 AM
wait a minute. did you just copy bitshares?

do you sharedrop?

Not copy.

GXB based on Bitshares 2.0 and Emercoin, and so many changes.  We disposed "Currency Market" and add so many functions.

This is a real business model and it can earn profit by itself. It does not need to get profit from Crypto-currency market.

15.  ICO Rules


15.1  Glossary

GXCoin（公信币）: refers to the system token used at GXB Decentralized Data Exchange  for settling transactions and calculating commissions. It permanently anchors with the RMB at 1:1, and the operator of GXB (Hangzhou Cunxin Data Technology Co., Ltd.) serves as the acceptor.

GXShares（公信股）: issued by GXB Decentralized Data Exchange as the object of ICO.

15.2  Commission Dividend Distribution Rules

The proposed GXShares to be issued is 100 million (100,000,000), carrying the right to enjoy 10% of the commissions generated by GXB Data Exchange (please be kindly noted, it is sharing of commission instead of profit. Commissions will be shared on the basis of transactions,  regardless of the profitability of the Company). Our plan is to distribute dividends derived from commissions once every 6 months in the first year since the launch of GXB Data Exchange, once every 3 months in the second year and once every month in the third year. The dividends (GXCoins) shall be distributed directly into the respective account as per the shareholding ratio registered within the system of the exchange; GXCoins can be cashed via GXB's gateways.

15.3  ICO Plan

　　 Total volume of GXShares (公信股):100,000,000 Shares

　　 Total volume of private equity:10% （10,000,000 Shares） - issued to the first private equity investors (private placement was completed on December 12, 2016, which raised 500 BTCs from 250 investors in total, each limited to maximum 2 BTCS.)

　　 Total volume for ICO:（39%）39,000,000 Shares

　　 Shares held by GXB Foundation: 51% （51,000,000 Shares）, is held by the foundation as restricted shares and shall be circulated by year; maximally 6% in the first year and shall be used for marketing programs (consultant appointment, talent recruiting, community construction, ICO referee incentive and ICO propaganda and promotions etc.); maximally 5% for every year after that. The dividends (GXCoins) generated during such period shall be owned by the foundation. The GXCoins account held by the foundation shall be made known to the public and the plans and purposes for the use of funds shall be announced on its official website and open to social supervision.

15.4  ICO Fund-raising Procedure 


15.4.1  Private Placement (Completed)

The targets of private equity were locked onto blockchain researchers, senior corporate management, community leaders etc, who were invited participants in the private  placement. Each person was limited to subscribe 2 BTCs at most and the total volume was limited to 500 BTCs. 20,000 GXShares were assigned to participants for each BTC.

Participants in the private placement were also required to offer assistance for the community construction, operation and promotion of GXB Decentralized Data Exchange.


15.4.1  Date and Time of ICO

As scheduled, GXB's ICO will be officially commenced at 8:00 pm March 15, 2017 (Beijing time) and ended at 8:00 pm April 14, 2017, lasting for one month, or it will be ended immediately when the targeted amount of BTC had successfully raised through the ICO claim process.


15.4.2  Public ICO

The duration of ICO is one month starting from March 15, 2017. ICO users will get 10,000 GXShares for each BTC, and the total volume of GXShares is limited to 3,900.

The minimum volume to be raised from the ICO shall be 1,000 BTCs, and the ICO would fail if the total volume raised is below 1,000 BTCs. Then, the BTCs that have been subscribed shall be returned to the investors via the original routes. Refund to PE participants shall be conducted 3 months after the end of ICO refund.


15.4.2  ICO Claim Rules

As considering the following two aspects, GXB's team had decided to adjust the original claim rules which were aimed to raise 3,900 BTCs due to the sharp rise in BTC's price in RMB recently:

At the very beginning when planning GXB's ICO, BTC's price in RMB is far below RMB8,800. The targeted 3,900 BTCs was calculated by GXB's team according to expected scale of the business development of the company based on BTC's price in RMB during that time. However, due to the sharp rise in BTC's price in RMB recently, the ICO users shall shoulder more if BTC's price in RMB remains around RMB9,000; meanwhile, what is in the first place is always the expansion and development of our own business, from the perspective of GXB's operation mode.

However, as uncertain risk exists in BTC's price, especially in the sensitive period recently. In addition, GXB shall implement the ICO+ policy of Yunbi that the 30-40% of the BTC raised shall be managed by Yunbi for 1 year, then, it will be up to the holder of GXShares to pay for the residual, BTC's price in 1 year remains much less predictable. We have taken into account of many factors before making the decision on a "flexible price exchange" which could guarantee the benefits of ICO users while reducing the risks facing GXB:

The time node of the "flexible price exchange": the closing price of BTC on Yunbi at 18:00 March 15, 2017 (Beijing time).

Exchange ratio:

A: If the closing price of BTC by that time is below RMB 8,000, the upper limit of BTC to be raised through ICO process shall be 3,900, then, the ICO exchange ratio shall be 1BTC=10,000 GXShares;

B: If the closing price of BTC by that time is over RMB 8,000 (including RMB 8,000), the upper limit of BTC to be raised through ICO process shall be 3,455, then, the ICO exchange ratio shall be 1BTC=10,000 GXShares if we failed to raise 3,455 BTCs, while the ICO exchange ratio shall be 1BTC=11,000 GXShares if we successfully raised 3,455 BTCs.

The minimum BTC to be raised through ICO process shall be 1,000. We will announce the failure of ICO if we the BTC we raised through ICO is less than 1000. Then, the raised BTC through ICO shall be returned to the investors from the original route.


15.5  ICO Incentive Program

15.5.1  In-kind Incentive

　　

• One first prize winner, being the TOP1 in ICO investment, rewarded with one set of MAC PRO laptop worth of RMB13,888 (latest version of 2016, with Multi-Touch Bar and Touch ID);

　　

• One second prize winner,  being the TOP2 in ICO investment,  rewarded with one set of iPhone7S/iPhone 8 worth of RMB8,000 (specific model and price is subject to Apple's spring release 2017);

　　

• One third prize winner, being the TOP3 in ICO investment, awarded with one set of Huawei Mate 9 worth of RMB3,399;

　　

• Seven outstanding prize winners,  being the TOP4~TOP10 in ICO investment, rewarded with a JD shopping card worth of RMB 1,000;

　　

• Ten lucky prize winners, randomly drawn from all ICO participants, rewarded with a JD shopping card worthy of RMB500.

　　

• All ICO participants with 1 or more BTCs (including 1 BTC) shall receive a book compiled by Dr. Han Feng – Blockchain ~ Quantum Wealth Outlook (worth of RMB49, to be published in April 2017); overseas participants are required to provide a mailing address in China.

　　

• Note: The prize for overseas participants may be replaced with Amazon shopping card of equivalent value.
  

15.4.2  Referee Incentive

GXB's ICO will be launched on the Yunbi platform. All registered users of yunbi.com will be assigned a dedicated link for GXB ICO reference. Referees will receive an incentive of GXShares equivalent to 1% of the total GXShares subscribed by the ICO investor referred through the link.

15.6  ICO Platform

GXB has established a relationship with Beijing Yunbi Technology Co., Ltd. (hereinafter referred to as "YUNBI" https://yunbi.com) and entrusts Yunbi with GXB's ICO program, funds custody, GXShares online trading in future and other matters.

YUNBI, formerly known as Peatio Exchange, is a wholly-owned project under BitFundPE and co-funded by Li Xiaolai and Qiu Liang. YUNBI was initiated on July 1, 2013,  launched on April 1, 2014 and officially renamed to YUNBI on October 8, 2014. It is built on the independently-developed Peatio Open Source Project. In addition, YUNBI is the first in the industry to provide full disclosure of its reserves, and the quantity of all digital coins and legal tenders are open and transparent.

15.7  Fund Custody

In order to safeguard the security of investors'  funds, we, as a responsible operator of GXB,  decide to place BTCs raised during GXB ICO (excluding those raised by private placement) under YUNBI's trusteeship. The custody ratio will be calculated according to the total volume of BTCs raised during ICO:

If the total volume of the BTCs raised during ICO (excluding those raised by private placement) is 1,000~2,000 (including 2,000), then, 30% of the total will be deposited at YUNBI;

If the total volume of the BTCs raised during ICO (excluding those raised by private placement) exceeds2,000, then, 40% of the total shall be deposited at YUNBI;
Withdrawal of deposited funds will be determined through voting by GXShare holders 1 year after the end of ICO. Funds shall not be withdrawn if 51% of the holders vote no, and the residual BTCs shall be returned to the users in proportion to their shareholding. Meanwhile, GXShares will be removed from YUNBI exchange and shall not be traded again. 

15.8  Fund Demand and Purpose

The total basic fund demand for the development, construction, operation and promotion of GXB Decentralized Data Exchange is estimated to be around RMB10 million, largely spent on the following aspects:

• Server purchase: CNY 500,000;
• Development of network spider and data service: CNY 1.5 million;
• Blockchain development: CNY 4.5 million;
• SDK and APP development: CNY 1 million;
• Distribution channel development: CNY 1million;
• Propaganda and promotion: CNY 500,000;
• Daily operation and initial working capital of the company: CNY 1 million.

The total above is CNY 10 million. Our maximum ICO goal is set at 3,900 BTCs to guarantee the rapid progress, grab a large market share and beef up the technical inputs and market inputs, so as to establish a trade barrier and technical barrier before competitors join in the game.


16.  Expected Return


The development of consumer finance in China is still in its initial stage, however, the consumer finance industry develops rapidly with a great potential. The current economic, social and policy environments in China have created favorable conditions for the development of consumer finance industry. Its industry chain is improving. A complete consumer finance industry chain shall consist of the upstream consumption demanders, core consumer finance communities (consumer finance service platforms and regulators) as well as the downstream consumption suppliers. The basis of the core consumer finance community is the regulators (regulators, credit investigators and bad loan caretakers). However, as the regulation regime (especially the independent third-party credit investigation and rating) is missing at the current stage, the cost of risk control incurred by consumer finance service providers is high. Risk control is crucial to the development of the consumer finance service providers，because all types of consumer finance service providers must select appropriate risk control measures according to the features of their own services. The blockchain-based decentralized data exchange developed by GXB is promising in improving the risk control capability of the entire consumer finance industry.

In two years, according to the estimate that the scale of consumer credit in China will rise up to RMB 41 trillion by 2019 and considering the current one-trillion data transaction volume of the black market each year as well as GXB's integration capacity with major institutions, banks, business side (B) merchants and client side (C) users, we expect GXB Data Exchange's annual turnover to be beyond RMB100 billion. The commission profits, service fees of the exchange shall exceed RMB10 billion, including the 10% of the commission (i.e. RMB1 billion) to be distributed to the holders of GXShares. If calculated by a total of 100 million GXShares, the dividend per GXShare shall be RMB10 each year. Along with the enhancement of GXB's  integration capacity, the annual transaction volume of the data exchange shall pick up rapidly, thus the investors holding GXShares shall enjoy more dividend return each year.

In the near future, we hope to see that, a landlord can quickly obtain data on the potential tenant's criminal record, drug abuse history, credit rating and other information by scanning the tenant's GXB APP on his mobile with the tenant's authorization and paying RMB 2 to GXB Data Exchange, and accordingly makes the rental decision. Along with the development of the society, the future must be a world where all is built on the basis of credit. This is a world only for people with good credit.


17.  Commitment and Guarantee

• 1. GXB will disclose the progress made by each project team once a quarter;
• 2.  GXB will disclose the operation condition each month after the GXB Data Exchange is brought online; 
• 3. Following the commencement of its official operation, GXB Data Exchange will calculate and distribute dividends to the GXShare holders as per the ICO rules;
• 4. The public key address of GXB Foundation will be announced and subject to the supervision of the entire community.

18.  Release Rules

• 1)  Restricted shares held by GXB Foundation shall be released by year, maximally 5% in each year;
• 2) During the period when GXShares are held  by the Foundation, the dividends generated from the restricted shares (GXShares) shall be owned by the Foundation.
  

19. Expert Remarks on Gongxinbao (GXB)


1)  Ni Liya, Doctor in Law, bureau-level researcher at the Policy Research Office of CPC Central Committee
GXB Data Exchange organically combines the innovation of internet information technology with that of the financial integrity construction. It breaks a new ground to realize secure and efficient circulation of data and its market development prospect is bright. I wish your team success in making continuous innovation and meeting your goals step by step.

2)  Chai Lin, Director / Procurement Specialist of the Ministry of Finance of PRC, Information Center of Communication Department of Zhejiang Province, E-Government Affairs Unit, Zhejiang provincial government
Under the current background of e-government, the construction of informationization is developed under independent systems.  As a result, all the existing information systems are scattered, heterogeneous and closed, and information cannot be shared by each other. The issue of information island must be solved if we want to give play to the effectiveness of e-government. GXB's blockchain technology and model are able to address this issue in a better way.

3)  Han Feng, Doctor, i-Center Tutor at Tsinghua University, Secretary-General of DACA Blockchain Association
The transformation of big data into assets that could be circulated through ownership authentication is a new world of human wealth.

4)  Li Xiaolai, the Richest Man with Bitcoins in China
Bitcoin is an irreversible invention, and the same of blockchain technology, they are quietly making a better world!


20.  Q & A


1)  Will the Data Exchange challenge the state administrative rules on credit investigation? Is it legal？

The uttermost concern of the industry over the processing of credit investigation data lies in its attribute to challenge the administrative rules on personal credit investigation, which may be vigorously repelled by the regulating authorities and lead to legal issues. Instead of caching and processing data, or providing data assessment report, GXB Data Exchange facilitates data exchange only when it's authorized by the user himself.  Therefore, it does not break the administrative rules on personal credit investigation. The blockchain-based data exchange via P2P technology puts an end to the chaos of offline black market transactions. It brings about rational and rule-keeping data sharing between alliance members and builds an equal and impartial trading and exchange platform.

2)  What is the relationship between ICO GXShares and GXCoins or GXB?

GXShares are shares used by GXB Data Exchange for ICO, carrying the right to share 10% of the commissions generated at the Exchange. While GXCoin is the token of GXB Data Exchange, permanently anchoring with RMB at 1:1, used for transaction settlement and dividend distribution within GXB Data Exchange. For instance, when Company A (e.g. a P2P lending company) needs to inquire or purchase data, it first has to buy GXCoins with cash via the GXB interfaces, and then it's able to buy data within the Exchange with GXCoins; while Company B as the data seller will receive GXCoins from the buyer, and then it may purchase the required data with GXCoins or cash GXCoins via the GXB interfaces. Dividends received may also be cashed in the same way by the shareholders.

3)  Where does the profits of GXB Data Exchange come from？

Being the first blockchain-based decentralized data exchange with the authentic application scenario and real business clients, the profits of GXB Data Exchange come from the commissions of each data exchange transaction. Based on the growth of our client base, the initial estimated volume of transacted data each day following the launch shall be up to millions and the figure will increase exponentially along with the continuous growth of alliance members.

4)  How to cash the dividends of GXShare into RMB? 

GXB Data Exchange integrates the interface developed by GXB's operator  (Hangzhou Credit Data Technology Co., Ltd.), so the users may directly cash their shares into RMB or BTC via the wallet client . The Company will transfer hard cash into your account via Alipay, online banking transfer or remittance.

5)  Is there a limit on the number of investors? What is the limit？

There is no limit on the number of investors, but the total volume for ICO is 3,900 BTCs. The ICO channel will automatically close when it has successfully raised 3,900 BTCs during the ICO.

6)  How much could GXShare be valuated？ 

We cannot accurately estimate the value of GXShare; however, judging by the commercial capability of the Company and the demand of the entire market, a very good performance is expectable once the Exchange is brought online. Certainly, this requires the support of you investors and the unremitting efforts of the GXB team!

7)  How is GXShare issued？

When GXShares are brought online at GXB Data Exchange, they will be issued to the same public key address as the investors send the BTCs in proportion to the shareholding at the time of ICO. Besides, the digital currency exchange will also offer assistance to the investors on how to receive GXShares.

8)  Is the GXShare client for individuals the same as GXB Data Exchange client？

Yes, it is. GXB blockchain employs GXCoins as the token with constant price used for transaction settlement and dividend distribution. Its exchange rate to RMB is set at 1:1. In future, the GXCoins received by the Exchange shareholders as dividends are on the very same blockchain as those spent by alliance members. That is to say, the client for the alliance members is consistent with the individual client. Statistics of everyday transaction can be viewed on the UI interface of individual client, which guarantees the transparency of the revenue generated by GXB Data Exchange. For the alliance members, the GXB Data Exchange client is connected to its local data servers through the interface. It retrieves data from local data server to process transactions, and completes the follow-up settlement only when the transaction is being retrieved and traded. Therefore, the UI presented at the clients is consistent with the UI of the individual client.

9)  Can individual GXShare holders make data query at the Exchange? Or can they participate in data exchange? 

No, they can't. GXB Data Exchange is an alliance chain, only the alliance members can participate in data exchange, and what the data exchange consumes is GXCoins instead of GXShares. We adopt the "whitelist" mechanism to incorporate alliance members and classify them by group. For instance, internet finance companies are only eligible for specific classified data transactions such as on individual credit history and performance of financial agreements, while their governmental counterparts are only allowed to transact within predefined groups, so as to guarantee the purity of parties to data transactions.


21.  Partners and Media




Contact:

Twitter: https://twitter.com/gongxinbao
Weibo: http://weibo.com/gongxinbao
Facebook: https://www.facebook.com/gongxinbao/
Youtube: https://www.youtube.com/channel/UCioTZwhEMJK4jz7_zCVHpsA
BTT ANN: https://bitcointalk.org/index.php?topic=1813679.0
WeChat: gxbdata
ICO Website: https://ico.gxb.io/

 :) :) :)