Friday, May 26, 2017

One stop FX exchange

New York - LedgerX, the New York-based bitcoin swap exchange, is currently awaiting regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate the first U.S. regulated exchange and clearing house for bitcoin options. Upon approval, participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally-cleared options contracts."We believe a regulated bitcoin market could substantially expand the bitcoin economy. In this regard, a vibrant options market, which LedgerX plans to build, is a critical foundation to the entire ecosystem," stated James Wo, President of Huiyin Blockchain Venture Investments, a subsidiary of investment conglomerate the Huiyin Group."In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options. In the long term, these strategic investors will help us enter additional marketplaces and territories," states Paul Chou, CEO LedgerX LLC.
 In he sandbox model I use this is a complex of trading pits between bitcoin and the various major central bank currencies.

What if is autotraded?

In that case, the traders are bots, right on board the pits and double spending is a closed problem, bots will register accounts on entry and exit. Local security at the trading pits means users can register without a secure element, just having the proper, provable credit and some cash.  So, right now, today, we are moving to bitcoin as the medium of FX exchange, like a reserve currency.  This takes tools away from central bankers and forces them to adopt sandbox autotrading and secure element to compete..

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