Author Topic: USD, EUR and CNY Gateway created on CCEDK.com  (Read 12349 times)

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Offline xeroc

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #31 on: July 07, 2015, 08:35:03 am »
[Feature request] Please provide a NodeJS/Python/PHP and or Java implementation for your API ..

I think the lack of liquidity can be GREATLY reduced if you had a properly described API page and a (few) corresponding implementation(s)

edit: maybe add yourself here:
https://github.com/timmolter/XChange
« Last Edit: July 07, 2015, 08:36:57 am by xeroc »
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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #32 on: July 08, 2015, 01:30:07 am »
I would like to better understand how the actual functionality will look for users, because it appears a bit vague to me at the moment. (Apologies if the answers are obvious to others). So as a starting point:

Say I have fiat USD, and I want to start trading cryptos. I send the fiat USD to CCEDK - do I then receive bitUSD in return or a gateway USD (say CCEDK.USD)?

Likewise if I were to send BTC or alt-coin to CCEDK, do I receive the Smartcoin version (e.g. bitBTC) or a gateway equivalent (say CCEDK.BTC)? If there were more than one privatised Smartcoin equivalent of any fiat or crypto, which version would I receive?

Assuming I receive the appropriate Smartcoin equivalents, then is my crypto-trading limited to whatever cryptos are currently represented in BitShares in Smartcoin form? ie. I speculate in bitDASH rather than real DASH or a gateway IOU called CCEDK.DASH?

What is the profit model for CCEDK dependent on? For example, would CCEDK be creating their own privatised Smartcoins to represent DOGE, DASH, BLK etc in order to earn trading fees as a privatised issuer? Or would they be rewarded in some way for setting up markets for various trading pairs? If there are multiple exchanges like CCEDK in the network competing in these activities, would we end up with multiple representations of each coin (which would not seem very efficient from a user perspective)?

Or is the profit model transformed primarily into a referral model, where CCEDK receives a cut of all trading activity in the BitShares exchange resulting from members brought into the system?

How are different exchanges in the BitShares Exchange Network likely to differentiate themselves?

Offline ccedk

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #33 on: July 08, 2015, 10:53:10 pm »
I would like to better understand how the actual functionality will look for users, because it appears a bit vague to me at the moment. (Apologies if the answers are obvious to others). So as a starting point:

Say I have fiat USD, and I want to start trading cryptos. I send the fiat USD to CCEDK - do I then receive bitUSD in return or a gateway USD (say CCEDK.USD)?

Likewise if I were to send BTC or alt-coin to CCEDK, do I receive the Smartcoin version (e.g. bitBTC) or a gateway equivalent (say CCEDK.BTC)? If there were more than one privatised Smartcoin equivalent of any fiat or crypto, which version would I receive?

Assuming I receive the appropriate Smartcoin equivalents, then is my crypto-trading limited to whatever cryptos are currently represented in BitShares in Smartcoin form? ie. I speculate in bitDASH rather than real DASH or a gateway IOU called CCEDK.DASH?

What is the profit model for CCEDK dependent on? For example, would CCEDK be creating their own privatised Smartcoins to represent DOGE, DASH, BLK etc in order to earn trading fees as a privatised issuer? Or would they be rewarded in some way for setting up markets for various trading pairs? If there are multiple exchanges like CCEDK in the network competing in these activities, would we end up with multiple representations of each coin (which would not seem very efficient from a user perspective)?

Or is the profit model transformed primarily into a referral model, where CCEDK receives a cut of all trading activity in the BitShares exchange resulting from members brought into the system?

How are different exchanges in the BitShares Exchange Network likely to differentiate themselves?

It seems a lot like this is all questions based on CCEDK being the new Bitshares wallet, and as such I would appreciate @Stan to come up with some clever explanation on the various options!
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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #34 on: July 09, 2015, 03:42:40 am »
I would like to better understand how the actual functionality will look for users, because it appears a bit vague to me at the moment. (Apologies if the answers are obvious to others). So as a starting point:

Say I have fiat USD, and I want to start trading cryptos. I send the fiat USD to CCEDK - do I then receive bitUSD in return or a gateway USD (say CCEDK.USD)?

Likewise if I were to send BTC or alt-coin to CCEDK, do I receive the Smartcoin version (e.g. bitBTC) or a gateway equivalent (say CCEDK.BTC)? If there were more than one privatised Smartcoin equivalent of any fiat or crypto, which version would I receive?

Assuming I receive the appropriate Smartcoin equivalents, then is my crypto-trading limited to whatever cryptos are currently represented in BitShares in Smartcoin form? ie. I speculate in bitDASH rather than real DASH or a gateway IOU called CCEDK.DASH?

What is the profit model for CCEDK dependent on? For example, would CCEDK be creating their own privatised Smartcoins to represent DOGE, DASH, BLK etc in order to earn trading fees as a privatised issuer? Or would they be rewarded in some way for setting up markets for various trading pairs? If there are multiple exchanges like CCEDK in the network competing in these activities, would we end up with multiple representations of each coin (which would not seem very efficient from a user perspective)?

Or is the profit model transformed primarily into a referral model, where CCEDK receives a cut of all trading activity in the BitShares exchange resulting from members brought into the system?

How are different exchanges in the BitShares Exchange Network likely to differentiate themselves?

It seems a lot like this is all questions based on CCEDK being the new Bitshares wallet, and as such I would appreciate [member=6]Stan[/member] to come up with some clever explanation on the various options!

Since you are asking a generic question, I'll provide a generic answer and let CCEDK and other partners comment on their specific customizations when they are ready to announce them.

At the core of everything sits the Cryptonomex web wallet with built-in decentralized exchange and financial products factory which will be hosted on partner sites.  This provides the standard back end (market order books and trading engine, etc.) and front end (hosted web wallet that looks like a familiar exchange.)

It also provides built-in interfaces to other leading coins and partner-supplied financial products and services.

Fiat can enter/exit the system via any member with the proper licenses who can buy/sell any asset on the BitShares exchange that they like from their own inventory of SmartCoins and Exchange Issued Assets.  They can even sell assets issued by other partners if they want to.  Just like selling books on Amazon - from inventory in their own wallet accounts. 

So customers can choose between bitDash or CCEDKdash on the network or actual Dash in CCEDK inventory on their dash wallet.  (Of course the CCEDKdash UIA on the bitshares network is essentially nothing but a claim on the actual Dash in the CCEDK wallet and is only as good as their counterparty promise to redeem it.)  Users get the choice whether to take that risk or pay to move into the BitShares bitDash market pegged asset to be counterparty free.  Or they could choose the CCEDK private pegged asset which only trusts CCEDK to publish a price feed not to hold the currency itself.  In practice, other exchanges will offer similar choices and all will trade with slight premiums or discounts based on perceived risk and reputation of each issuer.

Repeat:  Users get the choice.  Shocking.

Once a user has those assets, they can trade them with no further counterparty risk on the decentralized exchange - interacting with users from every partner on the network.

So, as you have just seen and will soon see again (cue the dark mystery music), businesses who are not exchanges can join our network and instantly have a basic exchange and wallet built in (just like a typical shopping cart is built in) and integrated with their industry-specific business processes

Stay tuned for more Summer Announcements.

Then each partner/industry gets to customize it as much as they want, including:
  • Making simple branding or "white label" changes with logos and color schemes.
  • Adding in GUI elements to present extra site-unique tools and features.
  • Linking between these GUI elements to custom business logic between the BitShares wallet and other coin wallets or the APIs of other fiat payment services and partners.
  • Implementing their own assets and financial products using the tools provided by BitShares for which they get their share of the fees associated with those products
  • Implementing their own unique customer support services and loyalty programs.
  • Implementing their own unique customer acquisition strategies competing to sign up BitShares users.
  • Implementing their own unique strategies to train and up-sell customers into using more services for which they are entitled to their share of the fees from the whole network for every customer they signed up.
  • Negotiating their own deals to bring other partners into the mix - like CCEDK did with Bit-X.
Example:  A worker in Omaha feeds some of his paycheck dollars into a Peak Ventures ATM machine and one second later his wife in Tijuana buys groceries with it using her CCEDK Nanocard. 

The use cases of all the newly available seamless partner integrations are mind-boggling.

Everybody wins:
The issuer of an asset   gets the fees from   the use of that asset      by everybody else's users.
The recruiter of a user   gets the fees from   the use of the network   for everybody else's products.

... and we all benefit from greater economic volume - which itself attracts more users and service providers.

So, bottom line:
  • Network members compete to win and retain customers - usually drawn from completely different demographics.
  • Our affiliate incentive program gives them credit for everything those customers do on the whole network - by introducing them to products and services offered by other network partners.
  • They gain by having their own products and services marketed to the customers of other network members.
  • They gain by sharing market depth and liquidity in a single global marketplace.
  • They gain by sharing in the "unhackable" and "transparent" set of order books that protect the consumers for the first time from exchange counterparty risk.

This changes everything.
« Last Edit: July 09, 2015, 04:01:38 am by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Ben Mason

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #35 on: July 09, 2015, 10:28:41 am »
I would like to better understand how the actual functionality will look for users, because it appears a bit vague to me at the moment. (Apologies if the answers are obvious to others). So as a starting point:

Say I have fiat USD, and I want to start trading cryptos. I send the fiat USD to CCEDK - do I then receive bitUSD in return or a gateway USD (say CCEDK.USD)?

Likewise if I were to send BTC or alt-coin to CCEDK, do I receive the Smartcoin version (e.g. bitBTC) or a gateway equivalent (say CCEDK.BTC)? If there were more than one privatised Smartcoin equivalent of any fiat or crypto, which version would I receive?

Assuming I receive the appropriate Smartcoin equivalents, then is my crypto-trading limited to whatever cryptos are currently represented in BitShares in Smartcoin form? ie. I speculate in bitDASH rather than real DASH or a gateway IOU called CCEDK.DASH?

What is the profit model for CCEDK dependent on? For example, would CCEDK be creating their own privatised Smartcoins to represent DOGE, DASH, BLK etc in order to earn trading fees as a privatised issuer? Or would they be rewarded in some way for setting up markets for various trading pairs? If there are multiple exchanges like CCEDK in the network competing in these activities, would we end up with multiple representations of each coin (which would not seem very efficient from a user perspective)?

Or is the profit model transformed primarily into a referral model, where CCEDK receives a cut of all trading activity in the BitShares exchange resulting from members brought into the system?

How are different exchanges in the BitShares Exchange Network likely to differentiate themselves?

It seems a lot like this is all questions based on CCEDK being the new Bitshares wallet, and as such I would appreciate [member=6]Stan[/member] to come up with some clever explanation on the various options!

Since you are asking a generic question, I'll provide a generic answer and let CCEDK and other partners comment on their specific customizations when they are ready to announce them.

At the core of everything sits the Cryptonomex web wallet with built-in decentralized exchange and financial products factory which will be hosted on partner sites.  This provides the standard back end (market order books and trading engine, etc.) and front end (hosted web wallet that looks like a familiar exchange.)

It also provides built-in interfaces to other leading coins and partner-supplied financial products and services.

Fiat can enter/exit the system via any member with the proper licenses who can buy/sell any asset on the BitShares exchange that they like from their own inventory of SmartCoins and Exchange Issued Assets.  They can even sell assets issued by other partners if they want to.  Just like selling books on Amazon - from inventory in their own wallet accounts. 

So customers can choose between bitDash or CCEDKdash on the network or actual Dash in CCEDK inventory on their dash wallet.  (Of course the CCEDKdash UIA on the bitshares network is essentially nothing but a claim on the actual Dash in the CCEDK wallet and is only as good as their counterparty promise to redeem it.)  Users get the choice whether to take that risk or pay to move into the BitShares bitDash market pegged asset to be counterparty free.  Or they could choose the CCEDK private pegged asset which only trusts CCEDK to publish a price feed not to hold the currency itself.  In practice, other exchanges will offer similar choices and all will trade with slight premiums or discounts based on perceived risk and reputation of each issuer.

Repeat:  Users get the choice.  Shocking.

Once a user has those assets, they can trade them with no further counterparty risk on the decentralized exchange - interacting with users from every partner on the network.

So, as you have just seen and will soon see again (cue the dark mystery music), businesses who are not exchanges can join our network and instantly have a basic exchange and wallet built in (just like a typical shopping cart is built in) and integrated with their industry-specific business processes

Stay tuned for more Summer Announcements.

Then each partner/industry gets to customize it as much as they want, including:
  • Making simple branding or "white label" changes with logos and color schemes.
  • Adding in GUI elements to present extra site-unique tools and features.
  • Linking between these GUI elements to custom business logic between the BitShares wallet and other coin wallets or the APIs of other fiat payment services and partners.
  • Implementing their own assets and financial products using the tools provided by BitShares for which they get their share of the fees associated with those products
  • Implementing their own unique customer support services and loyalty programs.
  • Implementing their own unique customer acquisition strategies competing to sign up BitShares users.
  • Implementing their own unique strategies to train and up-sell customers into using more services for which they are entitled to their share of the fees from the whole network for every customer they signed up.
  • Negotiating their own deals to bring other partners into the mix - like CCEDK did with Bit-X.
Example:  A worker in Omaha feeds some of his paycheck dollars into a Peak Ventures ATM machine and one second later his wife in Tijuana buys groceries with it using her CCEDK Nanocard. 

The use cases of all the newly available seamless partner integrations are mind-boggling.

Everybody wins:
The issuer of an asset   gets the fees from   the use of that asset      by everybody else's users.
The recruiter of a user   gets the fees from   the use of the network   for everybody else's products.

... and we all benefit from greater economic volume - which itself attracts more users and service providers.

So, bottom line:
  • Network members compete to win and retain customers - usually drawn from completely different demographics.
  • Our affiliate incentive program gives them credit for everything those customers do on the whole network - by introducing them to products and services offered by other network partners.
  • They gain by having their own products and services marketed to the customers of other network members.
  • They gain by sharing market depth and liquidity in a single global marketplace.
  • They gain by sharing in the "unhackable" and "transparent" set of order books that protect the consumers for the first time from exchange counterparty risk.

This changes everything.

Thanks Stan, this is a super clear explanation that has really helped me to get my head around the exploding possibilities.  I'm starting to understand the potential here, it's mind-blowing.

Offline Permie

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #36 on: July 09, 2015, 12:04:34 pm »
The Tipping Point for BitShares is going to be monumental.
Assuming integration takes a matter of weeks rather than months the dominos are going to fall so fast that taking a long holiday could mean you miss all the fun!

Quote
But it's a centralized SCAMcoin and bitMarmots will never work, just "BECAUSE"!! (Paraphrasing and hyperbole mine)
Nice try, Preston.
(Search "BitShares: Don’t walk away. Run" if you don't know what I'm talking about. He ain't getting any more links here)

So glad there is more detailed information now, bts clarity arrived so recently that I doubt word has even started to spread yet. Money talks, and bts businesses will profit.
Holders profit from their research, businesses profit on their bottom line.
The economic rationale of the BitShares team is what sets it apart from other asset exchanges, the adage "Invest in people" is sound advice indeed.

This post makes a great explanation, Stan.
I've added a little context as an intro for sending to the uninitiated.

Quote
BitShares is a decentralized asset exchange that allows users (people and businesses) to trade real-world assets with almost no counterpary risk and issue their own assets and profit from the fees paid during their use.
BitShares is a shared, transparent order-book that can execute up to 100,000 transactions per second. The bts order-book allows competing exchanges to pool together their liquidity by integrating  bitshares as the back-end and instead compete on User Experience, banking relationships and other consumer friendly features.
This results in a better deal for end users and a more streamlined business and higher profits for the exchanges. As the number of bitshares users and participating exchanges increases, the value of bitshares also increases.
BitShares members are also encouraged to sign up new users with a referral program, up to $80 per user depending on their usage.

1 bts is currently worth: 0.4 pennies (GBP)
If the BitShares ecosystem grows to the size of:
Bitcoin: 1bts would be worth £1 (x250 from today)
Amazon Gift cards (which can be more profitably issued on bts): £4 (x1000)
Air Miles, loyalty points, store credit, giftcards (can be more profitably issued on bts): £40 (x10,000)
Taiwanese Stock Exchange (can use bts): £296 (x74,000)
NYSE (can use bts to increase profits): £7,500 (x1,923,300)
« Last Edit: July 09, 2015, 12:37:10 pm by Permie »
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Offline cylonmaker2053

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #37 on: July 09, 2015, 12:27:51 pm »
[Feature request] Please provide a NodeJS/Python/PHP and or Java implementation for your API ..

I think the lack of liquidity can be GREATLY reduced if you had a properly described API page and a (few) corresponding implementation(s)

edit: maybe add yourself here:
https://github.com/timmolter/XChange

Yup! Making it easy for outsiders to connect makes all the difference in the world...

Offline Xeldal

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #38 on: July 09, 2015, 01:04:12 pm »
[Feature request] Please provide a NodeJS/Python/PHP and or Java implementation for your API ..

I think the lack of liquidity can be GREATLY reduced if you had a properly described API page and a (few) corresponding implementation(s)

edit: maybe add yourself here:
https://github.com/timmolter/XChange

There are code examples in their API docs specifically for PHP.
https://ccedk.mojohelpdesk.com/help/article/136557

I found their documentation sufficient to quickly and easily get up and running.   Certainly no less than what you get from many other exchanges.  Though, noone would complain about more examples in different code languages.


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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #39 on: July 09, 2015, 01:06:14 pm »
[Feature request] Please provide a NodeJS/Python/PHP and or Java implementation for your API ..

I think the lack of liquidity can be GREATLY reduced if you had a properly described API page and a (few) corresponding implementation(s)

edit: maybe add yourself here:
https://github.com/timmolter/XChange

There are code examples in their API docs specifically for PHP.
https://ccedk.mojohelpdesk.com/help/article/136557

I found their documentation sufficient to quickly and easily get up and running.   Certainly no less than what you get from many other exchanges.  Though, noone would complain about more examples in different code languages.

cool. once the big push for 2.0 is complete, it might be worth taking some time and funding effort to make the best API docs and tools on the market. sometimes simply facilitating connectivity offers higher marginal payoffs than new features.

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #40 on: July 09, 2015, 01:08:23 pm »
[Feature request] Please provide a NodeJS/Python/PHP and or Java implementation for your API ..

I think the lack of liquidity can be GREATLY reduced if you had a properly described API page and a (few) corresponding implementation(s)

edit: maybe add yourself here:
https://github.com/timmolter/XChange

There are code examples in their API docs specifically for PHP.
https://ccedk.mojohelpdesk.com/help/article/136557

I found their documentation sufficient to quickly and easily get up and running.   Certainly no less than what you get from many other exchanges.  Though, noone would complain about more examples in different code languages.

Thank you @Xeldal, I must admit I was puzzled about this issue, as I thought we did have sufficient API information to do some nice trading on exchange, and i asked my devs more times, where they could not understand the problem. I know undeatand why, thanks to you :) It saved me some unnessesary headache, but do hope @xeroc will comment as to why he thought it was not sufficient?
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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #41 on: July 09, 2015, 01:09:11 pm »
cool. once the big push for 2.0 is complete, it might be worth taking some time and funding effort to make the best API docs and tools on the market. sometimes simply facilitating connectivity offers higher marginal payoffs than new features.
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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #42 on: July 09, 2015, 01:12:47 pm »
.... but do hope @xeroc will comment as to why he thought it was not sufficient?
I was expecting a differently structured API documentation ... links to the private api can be easily missed (that's what happend to me)
Though I must confess I wasn't looking too much into the API ..

I would love to see something like this:
http://swagger.io/

but can understand I costs alot of time and resources to implement ..


BTW, who's a Java guru and can implement the BitShares DEX into
https://github.com/timmolter/XChange
??????
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Offline cylonmaker2053

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #43 on: July 09, 2015, 01:19:04 pm »
.... but do hope @xeroc will comment as to why he thought it was not sufficient?
I was expecting a differently structured API documentation ... links to the private api can be easily missed (that's what happend to me)
Though I must confess I wasn't looking too much into the API ..

I would love to see something like this:
http://swagger.io/

dude, swagger.io is effing awesome! We should fund a serious effort that focuses solely on BTS interoperability/connectivity/API ...hell, just gaining the reputation of being the friendliest API in the crypto space could pay massive dividends by attracting more talent.

SWAGGER! SWAGGER! SWAGGER!

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Re: USD, EUR and CNY Gateway created on CCEDK.com
« Reply #44 on: July 11, 2015, 02:39:04 am »
I would like to better understand how the actual functionality will look for users, because it appears a bit vague to me at the moment. (Apologies if the answers are obvious to others). So as a starting point:

Say I have fiat USD, and I want to start trading cryptos. I send the fiat USD to CCEDK - do I then receive bitUSD in return or a gateway USD (say CCEDK.USD)?

Likewise if I were to send BTC or alt-coin to CCEDK, do I receive the Smartcoin version (e.g. bitBTC) or a gateway equivalent (say CCEDK.BTC)? If there were more than one privatised Smartcoin equivalent of any fiat or crypto, which version would I receive?

Assuming I receive the appropriate Smartcoin equivalents, then is my crypto-trading limited to whatever cryptos are currently represented in BitShares in Smartcoin form? ie. I speculate in bitDASH rather than real DASH or a gateway IOU called CCEDK.DASH?

What is the profit model for CCEDK dependent on? For example, would CCEDK be creating their own privatised Smartcoins to represent DOGE, DASH, BLK etc in order to earn trading fees as a privatised issuer? Or would they be rewarded in some way for setting up markets for various trading pairs? If there are multiple exchanges like CCEDK in the network competing in these activities, would we end up with multiple representations of each coin (which would not seem very efficient from a user perspective)?

Or is the profit model transformed primarily into a referral model, where CCEDK receives a cut of all trading activity in the BitShares exchange resulting from members brought into the system?

How are different exchanges in the BitShares Exchange Network likely to differentiate themselves?

It seems a lot like this is all questions based on CCEDK being the new Bitshares wallet, and as such I would appreciate [member=6]Stan[/member] to come up with some clever explanation on the various options!

Since you are asking a generic question, I'll provide a generic answer and let CCEDK and other partners comment on their specific customizations when they are ready to announce them.

At the core of everything sits the Cryptonomex web wallet with built-in decentralized exchange and financial products factory which will be hosted on partner sites.  This provides the standard back end (market order books and trading engine, etc.) and front end (hosted web wallet that looks like a familiar exchange.)

It also provides built-in interfaces to other leading coins and partner-supplied financial products and services.

Fiat can enter/exit the system via any member with the proper licenses who can buy/sell any asset on the BitShares exchange that they like from their own inventory of SmartCoins and Exchange Issued Assets.  They can even sell assets issued by other partners if they want to.  Just like selling books on Amazon - from inventory in their own wallet accounts. 

So customers can choose between bitDash or CCEDKdash on the network or actual Dash in CCEDK inventory on their dash wallet.  (Of course the CCEDKdash UIA on the bitshares network is essentially nothing but a claim on the actual Dash in the CCEDK wallet and is only as good as their counterparty promise to redeem it.)  Users get the choice whether to take that risk or pay to move into the BitShares bitDash market pegged asset to be counterparty free.  Or they could choose the CCEDK private pegged asset which only trusts CCEDK to publish a price feed not to hold the currency itself.  In practice, other exchanges will offer similar choices and all will trade with slight premiums or discounts based on perceived risk and reputation of each issuer.

Repeat:  Users get the choice.  Shocking.

Once a user has those assets, they can trade them with no further counterparty risk on the decentralized exchange - interacting with users from every partner on the network.

So, as you have just seen and will soon see again (cue the dark mystery music), businesses who are not exchanges can join our network and instantly have a basic exchange and wallet built in (just like a typical shopping cart is built in) and integrated with their industry-specific business processes

Stay tuned for more Summer Announcements.

Then each partner/industry gets to customize it as much as they want, including:
  • Making simple branding or "white label" changes with logos and color schemes.
  • Adding in GUI elements to present extra site-unique tools and features.
  • Linking between these GUI elements to custom business logic between the BitShares wallet and other coin wallets or the APIs of other fiat payment services and partners.
  • Implementing their own assets and financial products using the tools provided by BitShares for which they get their share of the fees associated with those products
  • Implementing their own unique customer support services and loyalty programs.
  • Implementing their own unique customer acquisition strategies competing to sign up BitShares users.
  • Implementing their own unique strategies to train and up-sell customers into using more services for which they are entitled to their share of the fees from the whole network for every customer they signed up.
  • Negotiating their own deals to bring other partners into the mix - like CCEDK did with Bit-X.
Example:  A worker in Omaha feeds some of his paycheck dollars into a Peak Ventures ATM machine and one second later his wife in Tijuana buys groceries with it using her CCEDK Nanocard. 

The use cases of all the newly available seamless partner integrations are mind-boggling.

Everybody wins:
The issuer of an asset   gets the fees from   the use of that asset      by everybody else's users.
The recruiter of a user   gets the fees from   the use of the network   for everybody else's products.

... and we all benefit from greater economic volume - which itself attracts more users and service providers.

So, bottom line:
  • Network members compete to win and retain customers - usually drawn from completely different demographics.
  • Our affiliate incentive program gives them credit for everything those customers do on the whole network - by introducing them to products and services offered by other network partners.
  • They gain by having their own products and services marketed to the customers of other network members.
  • They gain by sharing market depth and liquidity in a single global marketplace.
  • They gain by sharing in the "unhackable" and "transparent" set of order books that protect the consumers for the first time from exchange counterparty risk.

This changes everything.

Thanks for your comments Stan, and highlighting the flexibility in the range of assets an exchange could offer. Below are some more questions, I'm really just trying to understand how the pieces work. Feel free to correct any of my misunderstandings.

When we say the exchanges will be able to share market depth and liquidity, are we referring specifically to markets where both tokens in the pair are on-chain assets?

The way I am seeing this at the moment (correctly or not) is that, like a traditional exchange, I can deposit fiat USD, alt-coins, or other types of assets to the member exchange. Any deposits in the form of off-chain assets (e.g. fiat currency, BTC, LTC etc) then get credited to my account with that member exchange as an IOU from them, supported by their inventory of that asset, until I withdraw them from the member exchange, or trade them for another asset. I presume I will be able to hold on-chain assets obtained through the member exchange in some way that is counterparty-risk free, and transfer to or from the hosted wallet.

I am then supposing that where I am trading between two assets, at least one of which is an IOU from the exchange, that those markets have liquidity specific to the member exchange, and do not benefit from shared depth or liquidity with other exchanges. I'm thinking this because the buyer or seller on the other side needs to want to accept the issuer-specific IOU in return.

When I do exchange trades exclusively between on-chain assets (e.g. BTS, bitUSD, bitDASH etc), then market depth and liquidity is shared because the exchange GUI is drawing on the common market in the DEX.

Is this close to what users should expect?