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Topics - bitcrab

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“Stable coin” become hot in recent past and attracted much attention,  the event that USDT is discounted more than 5% bring great worry on this token that occupy more than 95% stable coin market shares, now there is a great market chance for smartcoins, we should not miss it and need to do some big promotion to extend the market share.

Now one of the biggest market for stable coin is exchange, exchange has the demand to adopt stable coin as base trading currency, to encourage every potential people in this world to help to lobby the exchanges to adopt bitCNY and bitUSD, I suggest to open a worker proposal to use public fund for a marketing campaign.

1. Bounty quantity

the 4 most famous exchange: binance, OKEX, Huobi, Bitfinex.      1M/0.5M BTS

Top 20 in coinmarketcap  Adj.Vol(24h) ranking                           400K/200K BTS

Top 50 in coinmarketcap  Adj.Vol(24h) ranking                           200K/100K BTS

if one succeed to lobby one of the 4 most famous exchange -  Binance, OKEX, Huobi, Bitfinex to open smartcoin market, he/she will get 1M BTS as reward for the first adopted smartcoin(either bitCNY or bitUSD), 0.5M BTS as reward for the second adopted smartcoin(either bitCNY or bitUSD).

for other exchanges, the reward is as listed above based on the Adj.Vol(24 hours) ranking in

2. Work verification and reward distribution
Bitshares Committee will take the responsibility to verify the work of lobbyist and decide the distribution of reward.

People who want to work as lobbyists need to comment on the work proposal thread, give the information of bts account, email and which exchanges he/she want to lobby, if finally the exchange open smartcoin market(open at least 3 relevant trading pairs), the lobbyist need to provide evidence that it’s his/her work that make things happen.

There is a 30 days observation period, if the smartcoin markets are kept open in these period, then the highest  Adj.Vol(24h) rank of this exchange in coinmarketcap in these 30 days will be used to determine the reward.

This campaign will last 180 days, only when exchange open smart coin market in these 180 days then the reward will be distributed accordingly.

A worker proposal  of 100K BTS daily pay will be created for this campaign, if too many exchanges open smart coin markets and the totally 18M BTS is not enough to pay the reward, open market operation fund will release the fund to fill up the gap.

I hope this suggestion can be supported by community and we can implement it rapidly to capture the market chance.

General Discussion / Announcement on BSIP42 relevant actions
« on: October 01, 2018, 06:31:22 pm »
Recently there are some BSIP42 relevant actions: proxy openledger and michaelx vote to oppose BSIP42, proxy xerox claimed that will unvote witnesses that apply BSIP to bitUSD.

Sad to see these, however, I think I can understand why these actions comes out, I was also an opponent to BSIP42 at the very beginning of discussion, but step by step I was persuaded by others, especially by abit, so here I’ll also try to  summary some key points of the solution and hope that can help to persuade.

First, let’s define the vision of smartcoin,  in my view, it is 1. enough accurate pegging and 2. enough liquidity. based on these smartcoin will seek wildly adoption comparing to USDT.

If you do not agree on these, if you think “premium is good, volatility is good, I am bitUSD holder don’t remove the premium” you need not to read follows.

to improve pegging and also liquidity, now there are 2 solutions:

1. BSIP42
2. To dynamically adjust MCR

The core ideas of these 2 solutions is negative feedback - while one smartcoin is in positive premium, loose the smartcoin creation condition, while one smartcoin is in negative premium, tighten the smartcoin creation condition.

this naturally lead to one question: in bear market both solutions lead to higher black swan risks, a higher feed price lead to higher called price and also higher global settlement price, while solution2 also may lead to a close to 1 collateral ratio.

Let’s do a idea test: if we disable black swan setting, what will happen:
My conclusion is: the actual CR has very low chance to fall below 1, even it fall below 1, it is easy for it to jump above 1.

Easy to understand: if one can borrow with actual CR < 1, he have a infinite leverage and can borrow smart coin and buy BTS endlessly, this is not sustainable as the rapidly increased smartcoin quantity will rapidly lower the smart coin premium, with the negative feedback mechanism  the actual CR will rapidly return above 1, either by lowering price feed in soluton1 or increasing MCR in solution2.

In practice, we can expect that when actual CR fall close to 1, the “borrow and buy” activity will happen in big quantity that can resist the actual CR to fall continually, there is a very very little chance for black swan to happen even we keep the black swan setting with solution1 or solution2.

“harsh collateral rule lead to high risk” is one essential experience we lernt in the past several years, increasing force settlement offset, target CR both follow an essential logic: try to be more friendly to debt position owners, request least to borrowers. In BSIP42 the new idea is to let the market decide what an actual collateral ratio is appropriate, this not only improve peg, but also help to convert the demand of smart coin to purchasing power to BTS. The latter make big sense for ecosystem grow up.

After BSIP applied to bitUSD the premium fell drastically, we hope we can keep this trend continue until to a close to 0 premium.

bitUSD belong to the people all around the world, in China there are also many big bitUSD players. it will benefit the whole ecosystem to keep better peg and better liquidity, I hope the whole community can take action to protect the good pegging status of bitUSD, if we remove BSIP42 at this moment, bitUSD will return to high premium and disappoint potential users again, don’t make the previous efforts wasted.

If anyone would like to try some other solutions like solution2, please leave BSIP42 there and develop the new BSIP, go through the voting->testing->implementation process, if there’s strong enough consensus, it can cover BSIP42.

it’s not easy for the whole community to make bitUSD to go on a right way, I now have no choice but try my best to protect BSIP42 from being removed from bitUSD, spring-team now only support the witnesses that apply BSIP42 to bitUSD, if later this week xeroc unvote the witnesses that support BSIP42 on bitUSD, proxy bitcrab will unvote the witnesses that do not support BSIP42 on bitUSD.

I also hope voters that prefer bitUSD to have a better peg/liquidity to take similar actions. save bitUSD, please!

The next work day I’ll visit finance office to request them to remove setting proxy of binance-bitshares-gvbdb84k6h as openledger.

BSIP42 now worked fairly well in bitCNY. in several days the bitCNY premium decreased from above 5% to about 0.35%(this moment).

however, we are now facing 2 problems:

1. based on BSIP42, feed price may be much higher than Pdex(BTS price in DEX in bitCNY) in bear market, it may also be much lower than Pdex in bull market, now we have a 5% force settlement offset for bitCNY, but in bull market, it's possible that feed price be more than 5% lower than Pdex, at that time there will be chance for bitCNY holders to make profit by exploiting the debt position owners.

2. black swan possibility increased? now feed price is 12.3% higher than the latest price in DEX, many margined called orders just stayed there without being eaten, at this moment the highest call price in these orders is 0.9088, and we have a global settlement price of 0.5193.

I feel now force settlement and black swan now make little sense for bitCNY, especially after the BSIP implementation.

bitCNY has a force settlement offset of 5% for long time, it is seldom used, no obvious impact on the pegging of bitCNY. thanks to the good liquidity of bitCNY, bitCNY pegging depend little on the force settlement feature.

after BSIP42 implementation, it is the negative feedback mechanism, not the sufficient collateral promise that play the key role for bitCNY pegging, now when bitCNY is close to black swan, bitCNY will also has very high premium, the negative feedback mechanism will work to help to recover the BTS price. no need to trigger global setting.

in my view, for bitCNY, force settlement and black swan now make little sense but bring some trouble, I wonder whether it is possible to disable these 2 features.

any thoughts? we need sufficient discussion on this topic, no need to rush to a conclusion.

recently in China community someone suggest to lower MSSR of bitCNY, I'd like to have a public discuss and opinion survey on this topic.

thanks to the new feature target CR and the good market depth, recently most of the time the bitCNY margin called orders are eaten instantly at the price close to market price, when the price fall down to very low point, some margin called order are stay there for long time without being completely, and normally at this time the bitCNY premium is more than 10%.

when margin called orders stay there, then the sell order price will keep falling down when the feed price come down, shorters always can sell to make the feed price even lower and the buy back from DEX, this process make the price even lower.

so is it possible to lesson the positive feedback by lower the MSSR?

I think it's possible, as lower MSSR can reduce the profit expectation of shorting.

more ideas and opinions are welcome to clarify this.

recently there are a lot of price feeding relevant discussion on Chinese community and wechat groups

summarizing the discussion and reviewing what happened in the market these 2 days, I suggest witnesses to adopt a new model for CNY price feeding:

suppose A = BTS price in bitCNY at DEX + bitCNY deposit fee, Bi = BTS price in CNY got from one big external exchanges.

feed max(A,B1,B2...) as the BTS price in CNY.

let me explain why suggest to do so:

there are always shorters who watch the whole market, the dept positions in DEX everyday, and they are clear about the margin called rules in DEX, so when bear comes, they begin their work: sell BTS in big quantity in centralized exchange and lower the fee price and make the big debt position margin called, and they buy the margin called orders to make profits.

surely there should be shorters exist in a healthy market, but it's not good to always encourage shorting and speed up the falling of BTS price in bear market. to cultivate the smartcoin ecosystem, it's necessary to continually optimize the rules to encourage longers and discourage shorters.

the target CR is a very good new feature to do so, but we still need more optimization.

external centralized exchange are not transparent enough, in some market like, user can borrow BTS and short, and price come from these exchanges are mostly coverted from in BTC to USDT and then CNY, the too long conversion chain involve many uncertain factors.

BTS/bitCNY pair in DEX is the BTS trading pair with highest volume on the earth, and bitCNY has a convenient channel to fiat CNY, so this price can answer exactly in  what a price people can buy/sell BTS in fiat CNY.

sometimes the price in one market can be temporarily lower or higher then other markets, if the finally adopted price  temporarily higher than the actual price, it lead to little problem, but if the finally adopted price is temporarily lower than actual price, it may lead to margin call which should not happen, this is why I suggest to feed max(A, B)

currently the fed price to DEX comes from centralized exchange, it is like the neck of DEX are grabbed by exchanges outside DEX, we should let DEX itself play more important role in price finalizing, let the longers and shorters fight in DEX, not other exchanges.

to be careful, I suggest only try this model in CNY price feeding at first.

General Discussion / review the drastic fall
« on: August 09, 2018, 09:46:39 am »
check below graphs, it's the price chart of BTC/USDT and BTS/BTC and BTS/bitCNY at the same time period in yesterday.

what we can see is, BTS price drastically fell down in 2 hours,  from 0.000023 to 0.0000205BTC, or from 1.05 to 0.85bitCNY. 

comparatively, BTC fell down more  slowly, it cost BTC about 24 hours to fell from about 7100 to 6310 USD.

some factor play the key role to trigger the drastic fall, it is the big debt position.

after the 719 hard fork, target CR feature is enabled, however, unfortunately, GUI does not support this new feature until after the drastic fall.

some big debt position, including mine, are margin called at the begining of the fall, and quickly lead to drastic fall.

if the big debt position could have set target CR, things would be much better, as we can see, in other time, the BTS price change slowly.

so is the cowork of OMO+ spring fund to support the price make sense?  yes, even now I think it make sense, but the problem is that we under evaluate the impact of big debt positions without target CR setting...


利用BTS内盘闲置的BTS,用于共同抵押产生bitCNY,一方面增加bitCNY供应量,另一方面在市场低位时买入BTS, 在BTS高位时卖出BTS, 起到平准基金的作用,具体操作点位以基金管理人的判断为主。同时,当bitCNY供应量充足或者基金本身实现较大盈利后,源水基金还可以作为天使投资基金,投资基石轮的区块链创业项目,为基金持有人持续获得收益。




在2018.07.18-2018.07.31之间,可以在 SPRING/BTS市场直接挂单买入SPRING代币,价格为1 SPRING/BTS。基金账户挂出的SPRING代币的卖单数量取决于第一阶段的参与数额,如果第一阶段满足了基金运作的要求,第二阶段可能不再挂单。


如果在北京时间2018.08.01 零点之前募集到的BTS额度小于5000万,管理团队将退还募集到的BTS并关闭基金,否则,当募集到5000万BTS时,基金即开始操作。











取Max(Min(B*10%, A*40%),0)作为基金留存比例,其余作为净值增加,留存费将以增发SPRING的方式奖励给基金管理人员。






General Discussion / request to upgrade features
« on: July 11, 2018, 03:19:55 am » was born to fulfill the requirement for checking historic txid, and it works well up to now, however, can do more to fulfill demand from BTS community, such as:

1. enable users to check activities in categories.

2. provide some features of trading statistics, for example, user can provide pair and time interval to see the buy/sell volume and average price in that time interval.

3. provide some charts to indicate the key figures of BTS, some can take as a reference, some can be newly added, such as a charts to show the smartcoin balance and debt position data.

4. other necessary new features.

I hope more suggestions can come for upgrading, and team can do some investigation and cost estimation of upgrading the explorer, and then create a worker proposal to get the needed fund to do the job. BTS community really need a prominent blockchain explorer.

Stakeholder Proposals / [Witness Proposal] gdex-witnness
« on: April 11, 2018, 06:59:31 am »
Hello everyone, We, GDEX team, now announce to apply for a witness - gdex-witness

In the past several months, GDEX has provided gateway service for coins like BTC, ETH, EOS, NEO, QTUM, GXS, BTM, BTO, HPB, ATN, etc. we tried to create more user friendly service for all BTSers, hope you can enjoy our service.

I, bitrab, committee member of Bitshares and Lead of GDEX team, have ran a witness by myself 1 year ago, finally I gave up as I am not professional enough on many technology things. now we have development team that include members focus on development/deployment/QA test/maintenance, I believe they can ensure the witness node to run well.

As a big shorter I understand deeply the importance of exact price feeding, in our view, fed price should reflect the market fact about with what a price people can convert BTS with one kind of fiat. we build our price feeding scripts based on this view.

config detail of relevant nodes:

Witness  main  server:

-  Type:  Dedicated
-  System:  Ubuntu  Server  16.04  LTS
-  Processor:  Intel(R)  Xeon(R)  CPU  E5-2686  v4
-  Cores:  4
-  Ram:  32GB  DDR3
-  Disk:  1TB  SSD
-  Bandwidth:  1  Gbit/s
-  Location:  Japan

Witness  backup  server:

-  Type:  Dedicated
-  System:  Ubuntu  Server  16.04  LTS
-  Processor:  Intel(R)  Xeon(R)  CPU  E5-2686  v4
-  Cores:  4
-  Ram:  16GB  DDR3
-  Disk:  500GB  SSD
-  Bandwidth:  1  Gbit/s
-  Location:  Japan

Witness  price  feed  server  *2:

-  Type:  Dedicated
-  System:  Ubuntu  Server  16.04  LTS
-  Processor:  Intel(R)  Xeon(R)  CPU  E5-2686  v4
-  Cores:  4
-  Ram:  16GB  DDR3
-  Disk:  500GB  SSD
-  Bandwidth:  1  Gbit/s
-  Location:  Japan

GDEX  API  server  *2(wss://

-  Type:  Dedicated
-  System:  Ubuntu  Server  16.04  LTS
-  Processor:  Intel(R)  Xeon(R)  CPU  E5-2686  v4
-  Cores:  4
-  Ram:  32GB  DDR3
-  Disk:  1TB  SSD
-  Bandwidth:  1  Gbit/s
-  Location:  Japan

GDEX  API  server  *2(wss://

-  Type:  Dedicated
-  System:  Ubuntu  Server  16.04  LTS
-  Processor:  Intel(R)  Xeon(R)  CPU  E5-2682  v4
-  Cores:  4
-  Ram:  32GB  DDR3
-  Disk:  1TB  SSD
-  Bandwidth:  200  Mbit/s
-  Location:  China

QQ  group:602573197

we also welcome every friends to attend the 2018 Global Graphene Developer Conference:

Thanks for support!

A worker proposal will be created soon with below setting:
Code: [Select]
            "owner": "1.2.0",
            "work_begin_date": "2018-04-01T00:00:00",
            "work_end_date": "2035-12-31T00:00:00",
            "daily_pay": "20000000000",
            "name": "committee controlled open market operation fund",
            "url": "",
            "initializer": [
                "pay_vesting_period_days": 0

we now have 2 committee controlled open market operation accounts: committee-cnytrader for CNY relevant operation and committee-trade for USD relevant operation.

the worker proposal mentioned above has a daily pay of 200k BTS, which will be transferred to the 2 operation accounts for subsequent use, with the collected bitCNY and bitUSD market fees.

below are some suggested principles for the open market operation, surely the principle will be refined in the future. 

1.the purpose of the fund is to adjust the supply of smartcoins, so operators need to decide depend on the market condition, borrow smartcoins and buy BTS while the smartoin is in shortage, sell BTS and reduce debt position while the smartcoin is over supplied.

2. operators need to take good care while operate with debt positions, as an initial rough principle, when BTS price is under 2CNY:
while collateral ratio > 4, borrowing more smartcoin is allowed.
while 4>collateral ratio>3, smartcoin income can be used to buy more BTS, but borrowing more smartcoin is not allowed.
while 3>collateral ratio, smartcoin income need to be used to reduce debt position, buying more BTS is not allowed.

3.when more than 10M BTS are accumulated in one operator account, the account need to be locked by setting both active key and owner key to committee-account, a new operation account will be created for subsequent operation.

hope the worker proposal be approved then we can get great power to cultivate the smartcoin ecosystem and also the whole BTS ecosystem.

This is an upgraded version of the last post "suggestion for an official market value management infrastructure"

After reviewing the last post, I now feel it's better to call them "open market operation" than "market value management", here the operator is like central bank, it trade in the market to adjust the supply of smartcoins and BTS.

Now smartcoins like bitCNY have big demand, but are always in serious shortage, this limit the adoption of smartcoins and also the development of trading in DEX.

So currently the main policy of the open market operation is to buy more BTS, and create more smartcoins, mainly bitCNY  by borrowing.

As the income from market fee is limited, normally 10k-30k, so I suggest to add fund from reserve pool with a worker proposal.

Now Bitshares has daily budget of about 310k, among them about 240k are go into refund400k work proposal and return to the reserve pool.

I suggest to create a new worker proposal “committee controlled  open market operation fund” to replace refund400k, each day about 240k BTS will be collected, with a higher than 4 collateral ratio, more than 50k bitCNY can be borrowed and be used to buy BTS.

We need to make good use of the 1 billion BTS in reserve pool,

I understand that borrowing smartcoin based on collateralizing public BTS bring risk to the system, however the risk is tolerable.

The operation account is a multisig account of committee members under public supervising, not possible to set too lower collateral ratio. When BTS price is under 2CNY, it will be safe enough to set the collateral ratio higher than 4, right?

Committee-account has continuous smart coin income to reduce the risk.

Even the worst thing happen, the result is that the collateralized BTS be sold at a price 10% lower than the market price, no further hurt to the system.

On the other hand, if we just leave the 1 billion BTS sleep in the reserve pool, surely we avoid all the risks, but at the same time we give up the chance to supply more smart coins, create more purchasing power and income and make BTS great.

I believe  a community with courage and vision will select to go ahead with tolerable risks.

I'll collect feedback and build details on this suggestion

Frankly speaking, Bitshares ecosystem, especially smart coin ecosystem is facing bottleneck, recently the whole cryptocurrencies is in bear market, BTS price also wander in low level, consequently, margin calling happen frequently and smartcoins like bitCNY is in big shortage. When I wrote this, in magicwallet  traders need to pay 1.12 fiat CNY to buy 1 bitCNY. AEX, the first central exchange that open bitCNY market, now issue CNC, a token similar to USDT, and adopt it as base currency because now they are not confident that bitCNY can work well and fulfill the exchange demand,if we cannot find solution to overcome these hurdles, “make Bitshares great again” will be hollow words.

The current margin call rule has some flaws, which give BTS shorters big chance to make benefit and bring BTS longer big risk, hopefully the flaws will be solved by a planned hardfork with “sell only required collateral while margin call” feature in 1-2 months, however, even the hard fork happen without delay, it still do not solve all the problems,  Bitshares need some infrastructure to do BTS market value management, to bring the ecosystem to a more stable an active level.

I now propose to do “official market value management” to add power to Bitshares, below is the planned steps:

1. Charge market fee for smarcoins like bitCNY and bitUSD.

2.Use the collected fee to buy BTS. 

3. Borrow bitCNY/bitUSD by putting the bought BTS into collateral with high collateral ratio and continue to buy in BTS.

With this procedure, more and more BTS will be locked as collateral and more and more smartcoins will be supplied, all this will create incentive and also the expectation for BTS price to go up, consequently this will speed up the grow up of the smart coin ecosystem and then the whole Bitshares ecosystem.

what a market fee for smartcoins is appropriate?  

the fee rate should be low enough to keep the user experience as almost same as before, and also should be high enough to provide enough fund for  market value management, considering all this, 0.05% should be a good level.

how to manage the whole operation procedure?

create a trading account for each smartcoin, for example create committee.cnymaker for bitCNY operation,  the account will be owned by committee-account and the active key will be set as say 3/5 multisig, normally the accounts in the multisig structure are from committee members.

operation will follow some predefined rules, taking bitCNY as example:

Rules for placing/canceling orders to buy BTS:

1. while bitCNY is priced lower than 1 fiat CNY in market, then stop placing new buy orders.
2. while bitCNY is priced higher than 1 fiat CNY in market, place order to buy BTS, with the price at least 1% lower than the top buy order in market.
3. if any exist buy order A is with a price more than 10% lower than the top buy order, cancel order A.

Rules for borrowing bitCNY:

While borrowing bitCNY, the collateral ratio should be set as no less than 3, while the collateral go down to less than 3, stop buying BTS and use the collected bitCNY to reduce debt until the collateral is higher than 3.

Now more decentralized exchange appear in the market, CYBEX,a decentralized exchange forked from BTS with adding many ICO friendly features, is planning to get big share in the market, Bitfinex also plan to develop EOSfinex on the coming EOS platform, if Bitshares cannot make big advance by making good use of its specific advantages, no one can guarantee a good future. I hope everyone can carefully check the proposal and suggest constructively, I hope we have chance to make such a change happen and make bitshares great again.

General Discussion / A proposal to update the margin call process
« on: February 04, 2018, 02:45:31 pm »
according to the current margin call rule, when the collateral rate of the debt position fall under 1.75, all the collateral are put into an order to sell at the price of settlement price * 0.9.

a big problem generalized by this rule is, when there is a huge debt position be margin called, a huge sell order will be there, this enhance the trend of the price go down, and speed up the coming of more margin call, this positive-feedback always lead to a disaster.

speculators realize that there a big chance to make money by shorting BTS and buy back BTS from the margin call order, they keep there eye on this and find chance to manually create margin call, the result is, users who generate smartcoin to cultivate the ecosystem are always in danger and be hurt now and then, and the price of BTS are in a big limit to go up.

actually it is not a must to sell all the collaterized BTS when the debt position is margin called, it's possible to split the debt position into 2 parts, give one part(let's call it reserve part) a higher collateral ratio(let's call it reserve collateral ratio) and put the other part(enhance part) into sell with a lower collateral ratio(let's call it enhance collateral ratio), this can reduce the quantity of sell orders and slow down the price to go down.

here we need to introduce 2 global parameters:

reserve collateral ratio (RCR) and enhance collateral ratio(ECR).

when a debt position are margin called, a process will be trigged to splict the position to 2 parts, the ratio for collateral that be put into reserve collateral part are:


suppose MCR = 1.75, RCR = 1.8, ECR = 1.5, then r = 85.7%
suppose MCR = 1.75, RCR = 1.85, ECR = 1.5, then r = 75.5%

I believe this will help BTS a lot.

I wonder whether this is possible from development perspective and I hope this topic can be discussed more.

General Discussion / please leave poloniex
« on: February 02, 2018, 04:47:34 pm »
each time BTS are in serious market situation, poloniex is maintaining BTS wallet and users cannot withdraw BTS, I cannot understand this without supposing poloniex is in collusion with some whales to manipulate the BTS price and make money.

this always put Bitshares into dangerous place.

if you love BTS, please leave poloniex, witnesses, please remove poloniex price from price feeding.

General Discussion / plan for "Graphene DEVCON"
« on: December 27, 2017, 12:46:15 pm »
in 20th Jan 2018  there will be a meetup called "Graphene preDEVCON" in Shanghai, we invite some developers/entrepreneur to share their Graphene relevant projects, some possible topics are:

1.YOYOW's roadmap
2.ChenWei: A Graphene based IoT system.
3. MagicWallet's mission.
4.Introduction to DECENT
5.GXS, a data trading network
6.Harvey: oracle chain and EOS

we called it "preDEVCON" as we regard it also as preparation to a real "DEVCON",  up to now some friends from abroad are also interested in this meetup, surely everyone is welcome however we begin to plan the real international "Graphene DEVCON".

firstly we need to decide the date for the DEVCON, it will be in March or April, now we need to collect more info to decide the exact date.

definitely we hope BM can come to Shanghai and share his ideas, so at first we need to check with him whether he would like to come and what period is ok for him.

any suggestions on this DEVCON, please reply here, your input is important for us.

Stakeholder Proposals / proposal to create bitXCD
« on: December 12, 2017, 01:37:08 pm »
in the past several months I have met Mr. Zheng Xiaojun several times, he is the board member of the Caribbean Free Trade Zone and is very interested in blockchain application. we discussed a lot about the possibility on creating one blockchain currency to solve a lot of problem generated in this area as the finance service there is far from developed.

I introduced Bitshares smartcoins to him and finally he agreed that this is a great solution to solve the problems in payments, exchange in that area. he would like to cooperate with Bitshares community to issue bitXCD and make it wildly used.

XCD is the symbol of Eastern Caribbean dollar, which is designed to peg USD at the rate 1USD=2.7XCD, more detail of XCD can be found here:

I suggest we create bitXCD soon to open a big area for smartcoin.

Mr. Zheng(left 4) and his team with Prime Minister of Dominica and other government officials

Mr.Zheng and his team with Prime Minister of Saint Lucia

Mr.Zheng is also the lead of World Blockchain Organization and Caribbean Institude of Block Chain Industry.

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