Author Topic: Bitspark Switching to Bitshares for Remittances  (Read 970 times)

0 Members and 1 Guest are viewing this topic.

Offline George_Bitspark

  • Full Member
  • ***
  • Posts: 55
  • Co-Founder and CEO of Bitspark
    • View Profile
    • Bitspark
Bitspark Switching to Bitshares for Remittances
« on: August 10, 2017, 04:24:00 am »
Hi all!

We have some big news today, we at Bitspark (www.bitspark.io) will be switching to Bitshares in future for our remittances, starting with our recent deal with the UN ( http://www.eurasia.undp.org/content/rbec/en/home/blog/2017/7/25/-From-Russia-to-Tajikistan-changing-the-way-money-moves.html ) in Tajikistan.

Heres why we came to this conclusion: https://steemit.com/bitcoin/@bitspark/bitspark-switching-to-bitshares-for-remittances
Bitspark- Remittance platform for money transfer businesses.

Offline fav

  • Administrator
  • Hero Member
  • *****
  • Posts: 4267
  • No Pain, No Gain
    • View Profile
  • BitShares: fav
Re: Bitspark Switching to Bitshares for Remittances
« Reply #1 on: August 10, 2017, 07:12:30 am »
 +5%
► How-to Buy BitShares: https://goo.gl/i9j2YZ

Offline lakerta06

Re: Bitspark Switching to Bitshares for Remittances
« Reply #2 on: August 10, 2017, 12:10:48 pm »
A well written article!
And IMHO, a wise decision on your part. Congrats and best of luck!

Offline yvv

  • Hero Member
  • *****
  • Posts: 1185
    • View Profile
Re: Bitspark Switching to Bitshares for Remittances
« Reply #3 on: August 10, 2017, 12:53:32 pm »
Quote
This means there is one less hurdle for liquidity in new markets and there is also a natural incentive to create more liquidity- if there is a rising demand for a fiat pegged cryptocurrency then it will be trading higher than its real price so you can make money in creating (locking up BTS collateral) and selling it to the market.

This is not that easy. By issuing bitAssets backed by BTS collateral, you expose yourself to BTS price volatility. This process needs some smart management.

P.S. A number of very good points are made in the article.  +5%
« Last Edit: August 10, 2017, 01:05:04 pm by yvv »

Offline sudo

  • Hero Member
  • *****
  • Posts: 2255
    • View Profile
  • BitShares: ags
Re: Bitspark Switching to Bitshares for Remittances
« Reply #4 on: August 10, 2017, 02:46:14 pm »
 +5% +5%

Offline George_Bitspark

  • Full Member
  • ***
  • Posts: 55
  • Co-Founder and CEO of Bitspark
    • View Profile
    • Bitspark
Re: Bitspark Switching to Bitshares for Remittances
« Reply #5 on: August 10, 2017, 03:26:49 pm »
Quote
This means there is one less hurdle for liquidity in new markets and there is also a natural incentive to create more liquidity- if there is a rising demand for a fiat pegged cryptocurrency then it will be trading higher than its real price so you can make money in creating (locking up BTS collateral) and selling it to the market.

This is not that easy. By issuing bitAssets backed by BTS collateral, you expose yourself to BTS price volatility. This process needs some smart management.

P.S. A number of very good points are made in the article.  +5%

Our intention is that we wont be shorting them into existence ourselves due to this risk but being the constant buyer in the market for traders who do. Our first obligation is the safe custody of our customers money. Over time we will be able to accumulate enough of the smartcoins to fully switch over our services from BTC and our existing liquidity providers to using only bitassets on the DEX. We will be expanding upon some of the specifics in the coming weeks in follow up posts.
Bitspark- Remittance platform for money transfer businesses.

Offline virtualgrowth

Re: Bitspark Switching to Bitshares for Remittances
« Reply #6 on: September 27, 2017, 07:43:09 pm »
 +5%
Great to hear! Look forward to more.  And of course ZEPH soon enough.