Victor Yermark and George Burlakov from Smartlands joined the AMA session hosted by Stellar Reddit yesterday night. This AMA was a live discussion platform where they answered the questions posed by the audience from various parts of the world and also to some older questions posed by users from the date of announcement i.e. March 30th.
Some light was thrown on roadmap laid out and a legal framework for ABTs. They said that the process of preparation has started for ABT offerings with several companies. It is a preliminary process as the legal framework is still under development.
ABT can be launched successfully only after the completion of the following:
- A legal framework in place
- Final confirmation from a real economy company and a signed agreement
- A reliable partner – technical auditor to perform the audit is found
- Implementation of the legal framework for the specific company and performing the legal due diligence
“We consider 3-5 ABT offerings by the end of 2018 as expected scenario. ABT Index token will be created as soon as sufficient number of ABTs are in circulation. We consider 5-10 ABTs to be sufficient. It will depend on market cap and daily trading volume.”
Jack Geller, a Redditor commented on the forum:
“3-5? That is exciting to know. We look forward for their announcement sometime soon. Very excited for this. Smartlands needs to capitalize before the world realizes ABT is the future!”
Southeast Asia, specifically Vietnam and India, and Eastern Europe are the countries involved with Smartlands and are actively helping companies to create their ABTs for release this year.
Smartlands seeks to be a worldwide platform soon, as they stated:
“We are looking forward for partners in other regions and countries to be present globally.”
The team is also expecting a listing of SLT within this month. With this statement, questions were raised about the volatility of cryptocurrencies and how Stellar will affect Smartlands. They said, ‘if the charts are observed, the history of big dips has barely affected or hurt SLT.
Alan Somerset, a Twitter user says:
“Excellent! Nice send off before the Berlin Conference. Smartlands is one of my favourite and the fee is very low on the Stellar network and even significant increase in XLM price will not affect ABT investors and real economy companies unlike Ethereum, where fees may increase badly and prevent users from making operations.”
The time frame goal for first ABTs to be officially launched:
- Second quarter 2018 – announcement and launch of preparatory procedures
- Third quarter – ABT offering
The competitors have all tried to make token connected real assets or asset-backed tokens. ABTs are significantly revised and upgraded asset-backed securities [ABS] that fit well in all real economy assets which not only makes it a representation of an asset but a financial instrument to raise investment for strategic development, said Victor.
Victor added stating:
“Moreover, we pay huge attention to accountability and transparency to build trust, with the application of blockchain where possible.”
To conclude and Stellar being the main focus of the discussion, he stated:
“I think Stellar is a very perspective platform with a lot of built-in capabilities. It is also cheaper on a transaction level, and Stellar consensus protocol is more efficient than Proof of Work or Proof of Stake. We are also in constant touch with Jed McCaleb, the founder.”
Subscribe to AMBCrypto’s Newsletter
WAVES/BTC sees dramatic drop to reach 1 Satoshi on Binance exchange due to a massive sell order
Waves, the 29th largest cryptocurrency, hit lows against BTC on April 17, and users speculated that this could have been due to a massive sell order.
Waves, at press time, was trading a $2.71 with a market cap of $270 million and had a trading volume of $15 million. However, on April 17, the price of Waves hit rock bottom due to a massive sell-off similar to one that Ethereum witnessed a few years back.
As seen in the above chart, the price of Waves against BTC hit exactly 0.0000001 BTC, which amounts to 1 Satoshi. The volume for the said candle is also massive, further confirming a sell order of massive amounts. The coin has since increased by approximately 3% against Bitcoin in under 24 hours.
Crypto enthusiasts on Twitter couldn’t hold back their opinions as one user, @BitBitCrypto tweeted
“- $WAVES did not trade at 1sat, it traded at 10sat
– It is still a great project and with a huge potential
– This sell order has nothing to do with WAVES (the project)
– This trade wasn’t done on Binance web cause you can’t place this low, it was API
– I didn’t buy it at 10 sat”
Another user @BITCVIX tweeted:
1min WAVES/BTC flash crash on Binance (from 5200 sats to 1 sat) pic.twitter.com/C9WAGyjwp9
— BTCVIX (@BTCVIX) April 17, 2019
TradingView commented on this matter saying:
“Something strange is always happening in the #crypto market”
Subscribe to AMBCrypto’s Newsletter
Gemini’s Winklevoss twins and Charlie Shrem reach settlement in long-standing Bitcoin deal
Bitcoin [BTC] will take another 22 years to regain its all-time high, says research analyst
What is USDQ and Q DAO?
Binance coin [BNB] registers growth over 5% following Binance’s DEX launch hint; XRP too spikes by over 5%
XRP and Stellar Lumens [XLM] Price Analysis: XRP’s market trend remains indecisive as bears take hold of XLM
Bitcoin SV [BSV]: John McAfee ‘sues Calvin Ayre in four different countries’; vows to bankrupt him
Cardano [ADA]: Proof of Stake [PoS] throws away expensive process & advances the network, says Charles Hoskinson
Cardano [ADA]: We will emerge from 2019 more decentralized than any other network, says Charles Hoskinson
Bitcoin [BTC]: Don’t buy into it if you are not ready to be rekt, warns Richard Heart
XRP takes another step into mainstream adoption as Skype hints a possible integration
Japanese ‘Amazon’ Rakuten opens registration for trading cryptocurrencies on Rakuten Wallet
Breaking: SBI Virtual Currencies delists Bitcoin Cash [BCH] in response to Binance’s Bitcoin SV delisting
Is John McAfee among crypto adherents who knows Satoshi’s true identity?
Bitcoin [BTC], Bitcoin Cash [BCH] accepted as payments by Corporate Traveller following tie-up with BitPay